Joint mortgaze

Pseudorc

Hi,
I am working in uk with tier 2 visa and just in second year of my uk life. One of my relatives have asked me to be in a joint mortgaze applicant because of my high salary compared to his salary and bad credit. He's saying after 2 years he will purchase my share of the mortgage and relieve me off the deed.
How realistic is the idea and in which ways it can affect my future finance options, credit reports etc

Many thanks

Craig1981

unsure about applications on a tier 2 visa, however, even if you were a citizen, there is a simple answer - he has bad credit, which means historically bad with finances, so dont do it!!

i wouldnt do it, relative or not. will ruin your chances of 1st time buyer etc in the future as well

Pseudorc

Thanks Craig for the info
I am trying to find out causes to reject the proposals. One is i think what you have mentioned. It will run my chances of first time buying anything.

Tc

MallyGirl

You will be liable for the full amount if he doesn't pay
You will be financially associated with someone with poor credit which could affect all your future credit applications
What is going to change in 2 years that will miraculously mean he can qualify for the full mortgage?

Don't touch this with a barge pole would be my advice