Joint Purchase
Unless you are single and planning to remain so, it is always advisable to
buy the property in joint names with your partner. The bank,
building society or mortgage
lender, will require joint signatories to the mortgage application, even if this
is based on only one income. You both sign the application, both sign the purchase
contracts, and both own the house equally – it is generally easier this
way, but again if in doubt ask your solicitor. Legally you will usually become
Joint Tenants which means the survivor automatically
inherits the property. Alternatively, you may prefer to own your own share which
is a more business-like approach when you will be Tenants in Common.
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