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bank account for house-share

Eliza_ST
Eliza_ST Posts: 9 Forumite
in House buying, renting & selling
Hubby, daughter & I want a joint account for the 3 of us, as we're buying a house together. Which bank(s) will let us do that?
«1

Comments

  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Most I imagine. Pick up the phone and ask?

    Bear in mind this will link you all financially, so, for example, if you have or obtain a poor credit record, your poor daughter will struggle to get credit etc.
  • Eliza_ST
    Eliza_ST Posts: 9 Forumite
    G_M wrote: »
    Most I imagine. Pick up the phone and ask?

    Bear in mind this will link you all financially, so, for example, if you have or obtain a poor credit record, your poor daughter will struggle to get credit etc.

    I asked the bank our family all use individually. They said no, they have a limit of 2 people.
    I was hoping for a shortcut with internet research, but will start phoning if no-one answers...
  • steeeb
    steeeb Posts: 373 Forumite
    I'd advise getting a joint account with you and your hubby for the purpose of this - I assume for bills?

    Your daughter can then pay her share into the account.

    Linking yourself with your daughter financially would have no positives for anyone involved but could have a negative affect both ways in the future.
  • harrys_dad
    harrys_dad Posts: 1,997 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Eliza_ST wrote: »
    Hubby, daughter & I want a joint account for the 3 of us, as we're buying a house together. Which bank(s) will let us do that?

    Will all three of you be owners, on the deeds?
  • theartfullodger
    theartfullodger Posts: 15,805 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Is this for the money you will use to purchase the place (if so deposit account paying interest..) or for paying ongoing expenses (if so current account)??

    Who's names will be on the deeds & any mortgage??
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Anyone know if joint-ownership at the Land Registry also links people financially vis-a-vis the credit agencies?

    If so, my earlier warning becomes superfluous....
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    G_M wrote: »
    Anyone know if joint-ownership at the Land Registry also links people financially vis-a-vis the credit agencies?

    If so, my earlier warning becomes superfluous....
    I wouldn't have thought so, as it's not a credit agreement.
    A joint mortgage, however, will definitely link them all.
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    G_M wrote: »
    Anyone know if joint-ownership at the Land Registry also links people financially vis-a-vis the credit agencies?

    If so, my earlier warning becomes superfluous....

    Joint-Ownership doesn't automatically link people financial. If they were to take out a joint mortgage to buy the property then that would financially link them.
  • Eliza_ST
    Eliza_ST Posts: 9 Forumite
    harrysdad: all 3 of us will be owners, 3 names on the deeds.
    srtfullodger: the bank account is for ongoing expenses.
  • Lord_Baltimore
    Lord_Baltimore Posts: 1,348 Forumite
    IHT future-proofing?
    Mornië utulië
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