The Sun’s James Flanders explains how to find the best deal on your mortgage
LAUREN Dore was starting to think she would never own a property - but she managed to get a foot on the ladder by pairing up with a pal.
And recent research by Equifax revealed 17% of those it polled have or plan to take out a mortgage with someone other than their partner. "Spouses have long been our ‘go-to’ credit partners, particularly for larger loans like a mortgage, but this won’t be an option for everyone and responsible borrowing alongside wider family and friends unlocks more options to boost financial inclusion."It's becoming more popular - but what are the pros and cons of hopping on the property ladder with someone other than a partner?
"Or, for example, the difference between a studio flat purchase and a three-bedroom house purchase you may be able to get a lodger into the third room for, and this help towards costs." He said it's best to make sure you are "contributing equally" or should opt for a "tenants in common" home ownership, which is where you each own part of the home.Overall though, whether you buy with a friend, parent, sibling or partner, lenders won't look at it any differently financially, Mr Tebbutt said.
There were mixed predictions among lenders and estate agents for whether house prices would go up or down in 2024 at the start of the year.
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