Mortgage question to all experts out here please -
I am married and FTB and looking to secure my first property. I am in a long contract and just got a years extension. My spouse has only recently started working as a permie (<6 months).
The mortgage rate I get on a sole mortgage is cheaper than a joint one - that translates to £30 per month on mortgage payments.
I wanted to understand if there is any advantage of 1.) sole ownership + sole mortgage over 2.) joint ownership + joint mortgage or the other way round?
Or any implications with regards to death, insurance, inheritance etc that I need to be aware of in either of the two cases to help me make a decision?
Thank you
I am married and FTB and looking to secure my first property. I am in a long contract and just got a years extension. My spouse has only recently started working as a permie (<6 months).
The mortgage rate I get on a sole mortgage is cheaper than a joint one - that translates to £30 per month on mortgage payments.
I wanted to understand if there is any advantage of 1.) sole ownership + sole mortgage over 2.) joint ownership + joint mortgage or the other way round?
Or any implications with regards to death, insurance, inheritance etc that I need to be aware of in either of the two cases to help me make a decision?
Thank you
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