- Warning. Beware of financial advisers promising unusually high investment returns.
- In Money Marketing this week the Financial Services Authority is warning advisers about the dangers of selling dodgy non regulated investment products. What about warning the public?
- Wed 28th Jul 2010
- Have you been miss-sold your mortgage and are now stuck in mortgage hell.
- I have been speaking to a number of mortgage gurus over the last few days and the prickly topic that keeps cropping up is mortgage miss-selling.
- Wed 14th Jul 2010
- Bank of England to hold interest rates until May 2011. Good news.
- The british chamber of commerce have stated that rates will be on hold for quite some time.
- Tue 6th Jul 2010
Warning issued over joint mortgages
Wed 19 Dec 2007 4pm
A mortgage adviser has warned prospective homeowners that entering into a co-buying scheme to get on to the property ladder is "extremely risky".Peter O'Donovan, mortgage manager at independent financial advice firm Bestinvest, said that buyers should think carefully before proceeding with a joint mortgage, as personal circumstances and relationships can easily change.
He advised people to be sure of the other person's credit record before taking out a joint mortgage, but maintained that such an arrangement always contains an element of risk, even between good friends.
"There is always a possibility that people will fall out, or that someone's circumstances change before the other," Mr O'Donovan explained.
He also advised those considering a joint property purchase to "be totally clear as to the obligation you have entered in to".
According to a recent survey from Scottish Widows, 63 per cent of house purchases made by graduates involve some kind of joint buying arrangement with a partner.
