Buying with friends

With house prices having risen substantially over the past 20 years (despite recent falls), the plight of UK first-time buyers has resulted in people seeking alternative ways of getting on the property ladder.

One such route is buying with friends or family. This means that instead of you, or you and your partner getting a mortgage, you have a number of people on the deeds, which can ease the financial burden.

Lenders that allow friends to buy together usually allow a maximum of four people, however this can vary. Not only will different lenders allow different numbers of people to buy together, the amount you can borrow varies as well.

Some may only consider the two highest incomes, whereas others could take all four into account.

Click here for more information on buying with friends.

Houses for sale

First-time buyers reach pre-recession high

First-time buyer numbers hit a pre-recession high in March as Help to Buy took the pressure of fledgling home owners to raise a large deposit, research from LSL showed.

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First-time buyer lending up

The number of first-time buyers taking out a mortgage in October increased by 20%.

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The Bank of England has held the base interest rate at 0.5%.

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Nationwide Building Society will cut the interest rates charged on reduce its 90% loan-to-value (LTV) mortgages by 0.5% to 0.7% tomorrow.

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Nationwide hits highest lending levels in four years

Nationwide Building Society’s lending to first-time buyers has doubled in the first six months of the financial year and has reached its highest level of lending in four years.

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London first-time buyer numbers hit 3-year high

The level of first-time buyers in London hit a three-year high in the last quarter, despite the affordability issues faced by many in the Capital.

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Halifax has passed the 1,000 mark for NewBuy applications, seven months after the lender launched its products as part of the scheme.

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The Financial Services Authority (FSA) has been accused of restricting a recovery in the mortgage market.

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Buying a house seen as bigger commitment than marriage

For the nation's 25-34 year olds, buying a property with a partner is a bigger commitment than getting married.

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Welsh government to launch NewBuy-esque scheme

The Welsh government is to fund a mortgage guarantee scheme to support the purchase of new build homes by struggling buyers.

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Trio of lenders slash mortgage rates

Virgin Money, Nationwide Building Society and Precise Mortgage have announced cuts to their mortgage rates, available from today.

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Nottingham BS launches fee-free deals

Nottingham Building Society has today launched a range of mortgage products offering free valuations and free legal fees for remortgages.

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