Question regarding ownership

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    Question regarding ownership

    hi, is thier anyone out there that can help me with my question. for future plans as you may know property is very expensive. i wish to apply for a mortgage with a friend as my income is not enough.but i do not want the friend or partner to have anthing/rights with the property. can something like this ever exist. please provide your experience or advice

    thank you

    #2
    I have no doubt that such an agreement exists, but I can't see anybody in their right mind signing one on the terms you suggest!

    P.P.
    Any information given in this post is based on my personal experience as a landlord, what I have learned from this and other boards and elsewhere. It is not to be relied on. Definitive advice is only available from a Solicitor or other appropriately qualified person.

    Comment


      #3
      p.pilcher, what about something like a gurantor for a mortgage please.thanks

      Comment


        #4
        A number of organisations offer self certifiction mortgages, in other words you certify what your income is and the mortgage provider takes your word for it and does not check with your employer. Nobody condones making false statements, but it is done. If therefore you feel that you can afford to borrow more than the maximum that a mortgage provider would normally lend based on your current income, then the answer is obvious. A mortgage provider does not need a guarantor - this is provided by the property on which the loan is seured. If you fail to make the agreed repayments, you loose the property.

        P.P.
        Any information given in this post is based on my personal experience as a landlord, what I have learned from this and other boards and elsewhere. It is not to be relied on. Definitive advice is only available from a Solicitor or other appropriately qualified person.

        Comment

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