Share Dealing
Shared mortgage with a friend
Myself and a friend have been discussing a shared mortgage. Does anyone know of any site with sound info/advice?
He just finished university and has joined our work full time now. We are civil servants and earn £22,000 each. How would a shared mortgage work with both our salaries?
I 've heard good things about sharing a mortgage (Can be cheaper than renting, getting on the property ladder, shared expenses etc). Thing is I currently have a loan outstanding (worst thing Ive ever done). My monthly income is £1400, £350 of that goes on to the loan and then there's petrol/insurance for car, phone etc. After everything (including the £300 housekeeping I am currently paying anyway) I'm left with about £550 at the end of the month.
I checked my credit score a couple of months back and it was 99/100 which is great but I know it also takes into account affordability. Is there a good mortgage calculator that takes into account these figures.
I'd just like to know before going any firther only to discover we couldn't do it.
Thanks for any help
Didgey Sun 24/02/08 22:27
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