Joint account with no salary

Tippex

I have just bought a property with a friend. Which is the best joint account to set up for our mortgage payments to come out of which doesn't require a monthly salary to be paid into it? We will probably pay about £500 a month each in, which will then more or less go straight out again.

Dickieburd

You could look at Alliance And Leicester Current Account which you apply for in branch. My wife and I have one and it does not require minimum payment each month. You get a Visa Electron debit card each and one cheque book for the account an overdraft is not available for this account. We opened the account with a photocard driving licence each (one full, one provisional) and a couple of utility bills with each applicants name on to be on the safe side. It is best to ensure they are opening the correct account as the Premier and Premier Direct need a minimum balance each month. You get online and telephone banking and you can pay in at the Post Office (cash credits instantly) and withdraw at Post Office as well.

Another option to look into are some basic accounts that have no minimum requirement but allow joint applicants.