Preparing to get a mortgage is already a challenging task, but ongoing economic uncertainty makes navigating this milestone even trickier. The Bank of England Base Rate is now at 4.25% and remains its highest in 14 years and coupled with the cost of living crisis is putting extra pressure on the ability to save and budget effectively.
A mortgage is a long-term agreement, so it’s important to be clear on what you can afford and complete the necessary preparation to increase chances of a good deal. Getting onto the property ladder is tough, most of the time you need a hefty deposit, a steady income and good credit.
This is why you might want to consider getting a joint mortgage, grouping together means you’re more likely to afford a bigger property as it will increase how much you are able to borrow. Head of Mortgage at Sambla, Yasin Kayhan, has shared a list of nine things to consider before getting a joint mortgage.
