Lenders 'will not accept separate mortgages on one property'

Date:Thursday 16th October 2008

Couples buying a house will find that they are unable to take out separate mortgages to pay for the property.

At least this is what has been suggested on the HouseDoctor letters page in the Independent, with the newspaper's expert saying that lenders will not accept such an arrangement in case the home needs to be repossessed.

Peta Murphy wrote in to ask about whether separate mortgages would be a possibility, given that he and his partner are both about to sell their respective houses and move in together.

However, he was told that joint-mortgages are the only real option.

"The last thing they want is to be fighting with another lender as to who gets the first share of the money if they have to repossess and sell the property quickly," explained Cobalt Capital mortgage broker Andrew


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