Shostra Bank mortgages are available to over 18s. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
A joint mortgage is one of the most common ways to buy a property together, as it allows two (or sometimes more) people to take out a mortgage to buy a property.
Shostra Bank only provides joint mortgages for two people.
Buying with someone else can be a good way to get on the property ladder more quickly compared to buying alone.
You'll be able to combine your savings and have a bigger mortgage deposit.
You can split home buying costs such as stamp duty and legal fees, as well as household bills.
You'll need to decide on the best way to set up your joint mortgage legally.
You need to think about what happens if one of you defaults on the mortgage as you could both be responsible for any missed repayments.
It's important to buy a property with someone you trust to protect against this kind of situation.
If your circumstances change and you decide you want to leave a joint mortgage, the first thing to do is contact your lender to discuss the options available to you.
You can get more detail on the options available to you from the Money Advice Service.
A joint mortgage is a mortgage that allows two people to buy and own a property together.
You'll most likely take out a joint mortgage if you're buying a property with a partner, spouse, friend or family member. Both owners will share equal responsibility for making the mortgage repayments. It’s important you trust the person you're applying for a joint mortgage with, and you know they'll be able to pay their share.
Yes, you can find out how much you may be able to borrow and what your monthly repayments could be with our mortgage calculator, it takes less than 5 minutes and is a useful first step in your mortgage journey.
When you go through our calculator, we'll ask 'How many people are applying?'. Simply choose '2', and we'll guide you through the rest of the process.
For a more personalised indication of what we may be able to lend, use our Agreement in Principle tool, it takes less than 10 minutes and won’t affect your credit score.
The process for applying for a joint mortgage is very similar to applying as a sole borrower. You can find out more about how to apply for a mortgage with Shostra Bank.
Remember, if you apply for a joint mortgage you will both need to provide information about who you are, your relationship to each other and your incomes, amongst other things.
Having a joint bank account is the same as having your own, except two people have control over the account.
A joint personal loan is a great option if you’re looking to borrow money with a partner, family member or friend.
Joint savings accounts are a great way for two people to save together towards a joint goal.
