Cashback Remortgages · First-time buyers
Joint Ownership for First-Time Buyers
Buying together can improve affordability but creates shared legal and financial responsibility. The ownership structure you choose matters.
Joint tenants vs tenants in common
Joint tenants own the whole property together, with the survivor inheriting automatically. Tenants in common own defined shares that can be left to others. The right choice depends on your circumstances and wishes.
A solicitor can advise, and a declaration of trust can record unequal contributions.
Shared responsibility
Everyone named is responsible for the full mortgage payment, not just their share, and each person's credit history is relevant. Consider how a future change would be handled.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.