Joint Account for Mortgage

mistertea

Interesting to see the majority here opting for joint accounts.

All monthly bills, mortgage, mortgage overpayment etc. come out of my account every month. My wife will pay for holidays (yes I do get to go) and any other big purchases. On rare occasions when I have a lot of monthly outgoings my wife will transfer me money as necessary.

It's worked well for us for 10 years so I guess if both parties are happy and the bills get paid...

hazyjo

Even paying it all on my own, I have a separate account for the mortgage, bills, etc.


Always had a joint a/c for it all when owned a property jointly with a partner.


Much easier Pay it all on direct debit too. You know what's in/out.

takman

Personally i think the best way to do it is to have a cashback current account (either Natwest Reward or Santander 123 Lite depending on which will give the highest cashback based on your bills). This account should only have fixed amounts being paid out of it; so in your case mortgage, energy bills, telecoms etc. Simply work out how much your monthly bills total each month and pay in a week/monthly amount (depending on how your paid) to cover this. How you split this amount between you and your partner is up to you.

This means funds for your bills are automatically taken and they are paid without thinking about it.

Anything else such as Savings and Food money etc should go into different accounts.