Joint Mortgages are becoming a more and more popular type of mortgage with many young couples not wanting to commit on their own and not wanting to get married formally. If you are living together but are not married then you will need to formalise any property agreement to prevent any acrimony later.
There are a few things you should be aware of regarding Joint Mortgages:
Have a Deed Of Sale drawn up that has a power of sale. This will prevent one side of the partnership blocking the sale.
Have Wills drawn up for each partner. This will indicate what happens to the other partners share should you die.
Decide What Percentage each partner gets. Is the property to be owned 50:50 or does one partner have a larger share. Are they going to make identical payments for identical durations?
Property Deeds ensure that both names are placed on the property deeds.
Posted in General February 18th, 2008 by Kenny | No comments
The Bank Of England has reduced the mortgage rate for this months by a quarter of one percent to 5.25%.
This news follows concern that house prices in certain areas of the UK are falling with respect to the rest of the UK and the crisis in finance including Northern Rock.
See more detail and get next months changes direct ffrom The Bank Of England website.
Posted in News February 11th, 2008 by Kenny | No comments
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Posted in General February 4th, 2008 by Kenny | No comments
