Share a Mortgage Isn’t for Life
Think of Share a Mortgage as entering into a business relationship whereby, without each other, you wouldn’t be able to buy a property with the best mortgage interest rate. Unless you want to live together forever, most Mortgage Buddies will move on after a few years because the property has increased value so much that they can get a place on their own or they have found a love interest to buy a property with.
So when you are choosing a Mortgage Buddy, don’t think, " can I live with them forever", think, "can I live with you for a few years whilst I get myself on the property ladder".
Stay In Control
Above all else, Share a Mortgage wants you to have a safe and successful experience. We recommend you stay within our website to communicate with other Mortgage Buddies and only once you are ready, pass on your mobile number to talk to them. Don’t feel rushed into doing anything you don’t want to do.
Honesty is the Best Policy
Do not lie. Remember, this is a business relationship and any lies you say at the outset will have a knock on effect to your relationship with your Mortgage Buddy and, depending on the lie, could breach the legal contract and mean you are unable to get a mortgage, or complete the house purchase.
Communicating with Mortgage Buddies
Remember, they are just like you. They want to buy a property, but can’t afford to do it on their own. Talk about the properties you like, when you want to buy, what part of London you want to move to and why; keep it relaxed and use your time looking for properties as a building block for choosing the right Mortgage Buddy.
Be Flexible
Buying a house is not an exact science. You may not be able to afford the palace you initially dreamed of or be in the exact road you wanted. Be clear on the parts that you can’t move on, such as deposit, or a generic location. But be open to the ideas of the other Mortgage Buddy. It maybe that you want to buy in Battersea, and they want Vauxhall, however if a property came up in Vauxhall you both really liked you should be prepared to buy it.
Tell us if something isn’t right
Help us to ensure the success of our community by alerting us if you come across anything you feel is not right. There are several options available to you if you are unsure about the profile or activities of another member:
- If you have viewed a profile that gives you any cause for concern you can click on the 'Report a concern' link on the left hand menu
- If you receive an IM message that you deem to be inappropriate you can click on the 'Report a concern' link within the IM window.
- If you receive an email that you deem to be inappropriate you can click on the 'Report a concern' link within the email
Taking any of the above actions will flag the member causing you concern to our moderators immediately, which will help us resolve the issue quickly.
Meet Them
Meeting with your Mortgage Buddy for the first time can be extremely exciting, but be sure to keep your feet on the group. Some Mortgage Buddies will visit their first property together, which is good because the Estate Agent will be there with you to take you round.
For your own safety, never agree to be picked up at your home, and always make sure you have a way to get yourself to and from the meeting. Tell at least one friend or family member who you are meeting, where you are going and what time you expect to return. Let your Mortgage Buddy know that the meeting is not a secret and that others are aware of where you are going.
Stay sober throughout the meeting as having one too many could impair your ability to make good decisions. Keep your drink and personal belongings within sight at all times, and if you have a mobile phone, always take it with you. Most mobiles can make emergency calls even when locked, or out of credit.
Important
Remember to follow all of the tips and advice on this page until you feel confident with your Mortgage Buddy. If the other person wants to buy a property with you they will want to feel confident with you and take things slowly as well. Use your time finding properties together as a time for finding out about each other. Most of all, be safe and enjoy yourselves.
