*Yawn, what a boring thread I am about to start.
However I need some advice. At the moment I have a mortgage with my best mate, (Pamplemoose), and my boyfriend pays us ‘rent’ to live here. When we move does anyone know if we will be able to get a three way mortgage? We coudln’t get a three way account but maybe mortgages are different.
I used to work in a bank, but I didn’t have to advise on mortgages so I don’t know. I suppose its not an everyday question!
I’d recommend speaking to a mortgage provider. Never heard of it before though.
Originally posted by TechnoKitty
[B]When we move does anyone know if we will be able to get a three way mortgage? We coudln’t get a three way account but maybe mortgages are different.I used to work in a bank, but I didn’t have to advise on mortgages so I don’t know. I suppose its not an everyday question! [/B]
Yes they are possible as Sculli has one along with her mother & mother’s partner - the problem is getting her name off it :rolleyes:
I’d strongly recommend speaking to an independent financial advisor though - the mess Sculli is in was caused by the 3 of them just going to their building society and taking their very narrow advice.
Cool, thanks for your help and advice. At least of you know someone whos got one then it shows its possible 
Over here we have a legal term for shared ownership of land/house
called “tenants-in-common”.
It doesn’t have to have any fixed number of people who can be on the same title deed.
It is mainly used by people sharing the same (large) block of land.
Each house (site) can then be on-sold at leisure without affecting
any of the other title holders/residents on the block.
Each persons contribution (deposit/ or % of ownership) to the purchase
of the land/house is then listed according to how many dinaris they
put up. That is then their % of
ownership if the whole block gets subsequently disposed of/sold.
It can apply to mortgages here as well.
Say you put up 40% of the purchase price, pamlemoose 40% and your boyfriend the remaining 20%
then that is the amount of the mortgage each of you owns & is legally liable for.
HTH