Has anyone got a mortgage with a friend? - Corsa Sport - for Vauxhall and Opel Corsa B, Corsa C and Corsa D

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James

Member

Registered: 1st Jun 02
Location: Surrey
User status: Offline

22nd Sep 06 at 12:13

What sort of stuff do I have to consider?

There is no way I can get onto the property ladder in Surrey on my own

Jambo

Member

Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline

22nd Sep 06 at 12:15

id be dubious of that

Sooty

Banned

Registered: 9th Mar 03
Location: FLAP CENTRAL
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22nd Sep 06 at 12:15

bit risky, unless a good friend.... i cant think of anyone i know i would though

James

Member

Registered: 1st Jun 02
Location: Surrey
User status: Offline

22nd Sep 06 at 12:15

Surely its less risky than getting one with a girlfriend?

Sooty

Banned

Registered: 9th Mar 03
Location: FLAP CENTRAL
User status: Offline

22nd Sep 06 at 12:16

quote:
Originally posted by James
Surely its less risky than getting one with a girlfriend?

actually i agree with that

Dean_W

Member

Registered: 13th Dec 05
Location: Downham Market, Norfolk
User status: Offline

22nd Sep 06 at 12:17

Try looking at shared ownership houses. it is a lot cheaper than buying 100% of a property. Also, you do gain equity.

Aaron

Member

Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline

22nd Sep 06 at 12:17

Probably safer getting one with a good friend then a Gf anyway

Dione J

Member

Registered: 22nd Sep 04
Location: West Midlands Drives: Leon Cupra Turbo
User status: Offline

22nd Sep 06 at 12:17

I would try a family member as a "silent partner" first..

--Dave--

Banned

Registered: 17th Feb 04
Location: Essssseeeeex Drives: Black Supra TT
User status: Offline

22nd Sep 06 at 12:17

it's risky however you do it mate, generally less risky with someone who you're potentially going to spend the rest of your life with rather than just a mate

I certainly wouldn't get one with any of my mates thats for sure.

Saying that, how good is this mate? What would it be like if either of you got a girlfriend and wanted her to move in etc...?

Sooty

Banned

Registered: 9th Mar 03
Location: FLAP CENTRAL
User status: Offline

22nd Sep 06 at 12:18

Dave its for you and him isnt it

--Dave--

Banned

Registered: 17th Feb 04
Location: Essssseeeeex Drives: Black Supra TT
User status: Offline

22nd Sep 06 at 12:18

rephrase that as I know you're a gayer anyway.

What if 'he' got a girlfriend?

Kerry

Member

Registered: 5th Oct 01
Location: Norwich
User status: Offline

22nd Sep 06 at 12:18

try renting with said mate for 6 months first

that way you will also increase your credit score for when you do come to buy

James

Member

Registered: 1st Jun 02
Location: Surrey
User status: Offline

22nd Sep 06 at 12:19

quote:
Originally posted by --Dave--
it's risky however you do it mate, generally less risky with someone who you're potentially going to spend the rest of your life with rather than just a mate

I certainly wouldn't get one with any of my mates thats for sure.

Saying that, how good is this mate? What would it be like if either of you got a girlfriend and wanted her to move in etc...?

I havent got a particular mate in mind yet. Obviously there are only a select few I would consider doing it with.

James

Member

Registered: 1st Jun 02
Location: Surrey
User status: Offline

22nd Sep 06 at 12:19

quote:
Originally posted by --Dave--
rephrase that as I know you're a gayer anyway.

What if 'he' got a girlfriend?

chump

--Dave--

Banned

Registered: 17th Feb 04
Location: Essssseeeeex Drives: Black Supra TT
User status: Offline

22nd Sep 06 at 12:20

you have to be careful mate.

I'd do as kerry said and test the water by renting first. It's dead money but at least you can gauge what you're like living together.

When I think of mortgages I think of 30/35 year commitments. Not something I would ever consider doing with a mate

N16K

Member

Registered: 4th Oct 04
Location: Belfast, NI Drives: Corsa D SRi, Tuned Cooper S, B
User status: Offline

22nd Sep 06 at 12:21

Get legal advise and have a good solicitor.

James

Member

Registered: 1st Jun 02
Location: Surrey
User status: Offline

22nd Sep 06 at 12:21

Look how exspensive property is where I wanna live

http://www.findaproperty.com/searchresults.aspx?loc=Woking&minprice=&maxprice=&bedrooms=2&res=0&salerent=0&edid=0&f.x=58&f.y=2

For anything half decent with more than 1 bedroom you are looking at £150k plus.

James

Member

Registered: 1st Jun 02
Location: Surrey
User status: Offline

22nd Sep 06 at 12:23

quote:
Originally posted by --Dave--
you have to be careful mate.

I'd do as kerry said and test the water by renting first. It's dead money but at least you can gauge what you're like living together.

When I think of mortgages I think of 30/35 year commitments. Not something I would ever consider doing with a mate

Well it would only be to get us onto the property ladder really. Obviously eventually hopefully we will have g/fs that we wanna live with etc.

Would be quite convinient if that happened to both of us at the same time

--Dave--

Banned

Registered: 17th Feb 04
Location: Essssseeeeex Drives: Black Supra TT
User status: Offline

22nd Sep 06 at 12:23

it's getting the same wherever you live now mate.

House prices have pretty much double in 10 years. I don't see any reason why the trend won't continue.

Jamie Walby

Member

Registered: 15th Nov 04
User status: Offline

22nd Sep 06 at 12:23

better get saving then boy.

Kerry

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Registered: 5th Oct 01
Location: Norwich
User status: Offline

22nd Sep 06 at 12:23

quote:
Originally posted by --Dave--

When I think of mortgages I think of 30/35 year commitments. Not something I would ever consider doing with a mate

Its not a commitment its an investment short or long term
He could buy with mate or mates for a few years then sell and be in a good position to purchase on his own with possibly enough for a small deposit

Seems logical to me

James

Member

Registered: 1st Jun 02
Location: Surrey
User status: Offline

22nd Sep 06 at 12:24

I'm fairly confident I'll be on a decent salary when I graduate but as soon as I start renting, it will just be a never ending loop.

Dione J

Member

Registered: 22nd Sep 04
Location: West Midlands Drives: Leon Cupra Turbo
User status: Offline

22nd Sep 06 at 12:24

Have you got a deposit James?

Tom

Member

Registered: 3rd Apr 02
Location: Wirral, Merseyside
User status: Offline

22nd Sep 06 at 12:24

get this one, it looks nice

http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=0&pid=058457&agentid=03070

--Dave--

Banned

Registered: 17th Feb 04
Location: Essssseeeeex Drives: Black Supra TT
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22nd Sep 06 at 12:24

I think I have that outlook because I would never imagine entering into something like that with any of my mates. They are all wasters with shoot jobs that they can't hold down for longer than a few months