Simmonds Mortgages

Mortgage Brokers covering Berkshire and beyond

Call: 01344 225 149 or 07979 690 056

Considerations when co-buying a property

By |

We all know how difficult it is to get on the property ladder these days. One increasingly popular solution for first-time buyers is to co-buy a property with friends.

In fact, a recent survey found that 60% of millennials would take out a multiple person mortgage with friends.

Pause for thought

Buying a property is a huge commitment, so here are some factors you might want to consider before taking the plunge:

  • Try renting first to make sure you're suited to sharing the same space
  • Make sure you understand the two ownership types (joint tenancy or tenancy in common) and choose the option that's right for you
  • Consider drafting a cohabitation agreement, to avoid disagreements over who owns what assets. 
 
 
Your home may be repossessed if you do not keep up repayments on your mortgage


We can help you!

At Simmonds Mortgage Services we can give you the expert advice you need and help you with your mortgage or insurance needs. Get in touch today 01344 225 149 or 07979 690 056. Alternatively please send us an email at info@simmondsmortgage.co.uk

 

simmonds_mortgage_service_final_logo.png

 

Simmonds Mortgage Services is an appointed representative of Stonebridge Mortgage Solutions Ltd and can source the most appropriate cover from its panel of insurers with a free review of you overall protection and insurance needs. As with all insurance policies, conditions and exclusions will apply.

What our Customers Say...

Your home may be repossessed if you do not keep up repayments on your mortgage.

Simmonds Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.

Registered Office: Simmonds Mortgage Services Ltd, Lexham House, Forest Road, Binfield, Berkshire, RG42 4HP. Registered Company Number: 1152 8784 Registered in England & Wales.

There may be a fee for arranging a Mortgage and the precise amount will depend on your circumstances. This will typically be £399.00 paid once the mortgage offer has been confirmed.

There may be a fee for arranging an Equity Release or Lifetime Mortgage and the precise amount will depend on your circumstances. This will typically be £799.00 and is due on completion of the mortgage.

To view our Privacy Statement, please click here.

To view our Cookie Policy, please click here.

To view our Data Protection Policy, please click here.

© . All rights reserved.