Property Buying Guide

Joint Ownership, Co-buying and Joint Equity

Joint ownership is increasingly being seen as a way onto the property ladder. It brings the first rung within reach, because it lowers the amount of deposit required by each investor and ongoing monthly costs. Because many people are used to sharing accommodation as students, trainees or renters for example, the idea of living in jointly owned property is the logical next step.

Whoever you are thinking of investing with, you should put measures in place to protect your investment. You will also need to seek joint mortgage advice.

FirstRungNow Ltd does not recommend that you proceed with joint ownership without drawing up a trust deed or declaration of trust and a co-habitation agreement between all the parties. This may seem daunting at first but your solicitor will help you turn your agreements into working legal documents. Similarly, a mortgage advisor will help you understand how a joint mortgage works and the advantages, or disadvantages, of different types of mortgages.

This guide is meant to give you, in plain English, the points you need to consider when drawing up the agreements with your property partner/s and your solicitor.

Find out more about Joint Ownership, Joint Equity and Co-Buying a property in our guide:
 
What's good about joint ownership? What are the downsides of joint ownership?  l How much can we borrow for a joint ownership mortgage? l The two types of joint ownership, joint tenancy and tenants in common l Drawing up a trust deed, or declaration of trust and joint ownership agreement l Example of a declaration of trust l Example of a joint ownership agreement l Joint mortgages and how the finances could work when you buy with others l Finding someone to invest with and tips for those using joint ownership schemes where you can meet other prospective joint owners. l Frequently asked questions about joint ownership 

Most useful and most popular pages on this site:

Look for your First Property l Seek First Time Buyer Mortgage Advice l See our Best First Mortgages Comparison Table l Find out about First Time Buyer Mortgages l Find out How to Buy a House l Learn all about The First Time Buyer Mortgage l Shared Ownership

• Request a quote for drawing up co-habitation agreements and wills
• Request joint mortgage advice
• See our table of best first time buyer mortgages
• Find out more about getting a mortgage with a parent
• Find a list of co-buying networks where you kind others to co-buy a property with
• Did you know you can get a mortgage with a parent  without both having to be on the title deeds?
• Ask for a quote for conveyancing
• Ask a mortgage advisor about mortgage payment protection insurance and life insurance
• Find a first property