Graduates urged to be 'cautious' with joint mortgages

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Graduates urged to be 'cautious' with joint mortgages
By: James Smith-16900 , Posted On: 2007-12-10

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A survey conducted by Sc

ttish Widows found that 72 per c

nt of graduate first-time buyers chose to buy w

th somebody else, compared with 69 per c

nt last year.

However, Amanda Docherty, communications m

nager for the bank, warned that p

ople should not "rush" into making th

se kinds of arrangements.

"Nobody wants to end up in a s

tuation where they find it extremely d

fficult to share a home with s

meone they no longer get on w

th but can''t afford to do

nything about it," she commented.

The company''s r

search also discovered that fewer than h

lf of respondents who graduated in the l

st ten years have managed to get

nto the property ladder.

According to data fr

m the Council of Mortgage Lenders, the

verage mortgage rate rose to 6.02 per c

nt in September, up from 5.91 per c

nt a month earlier.

This, the organisation s

id, created further affordability problems for f

rst-time buyer mortgages.

The article Graduates urged to be 'cautious' with joint mortgages was Submitted by James Smith-16900 through Articles.GetACoder.com network. Here's the additional information: James Smith is an nline journalist from Perth, Scotland.

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