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Joint application mortgage

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Hi, I’m not sure if I’m on the right forum or not but here goes.


After a lot of thought, we are considering the possibility of starting a shared mortgage with our next door neighbours whom we are very good friends with,

we would be looking for a 6 bedroom house as we have four kids between us.


Now my problem is that I haven’t got great credit, past mistakes of being reckless etc, which I’m slowly but surely paying away .

I have no ccj’s but do have a number of defaults, the last issued default being approximately 4-5years ago.


I have a next account that we regularly use and have been sensible with, which I hope shows that I’m managing my credit better than in the past.


My question is though, will I be a liability in a joint mortgage application? Even if the other applicant has good credit? Thanks in advance

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yes the defaults will harm the application

and paying them off wont improve things either

defaults are registered for 6yrs

paid or not, paying or not.


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Begs the question as to what sort of purchase you are making, it will be very complicated and I doubt if a normal Bank/BS will lend and then you fall into their hands of the companies that make money out of misery rather than as mortgage lenders.


For example are you going to be joint tenants or tenants in common? What will be the share each person has if the latter? what agreement will you reach regarding the death of one of the mortgagees?


I woudl say that these things need to be tied down before you search for a mortgage lender as you certainly will be spending money on solicitors as soon as you try and find somewhere to borrow the money

Edited by Andyorch

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