Buyingblock -Homes

Any tips

What to look for in a partner; ideally someone who shares the same thoughts and goals as you about co-buying. If they want to invest in a buy-to-let - maybe you can co-buy and be the tenant - but when will they want to sell? The more similar they are to you the easier it will be to co-buy, but be open minded you never know what opportunities there may be! Search our site, look for the right person - then the fun part begins - first contact! Below is an example from another co-buyer that might help:"Once I knew what I wanted from co-buying I started thinking of the type of person I wanted to co-buy with.

This is what I came up with:

- Clean!
- Physical age of no concern as long as they were of similar
- outlook in life as me.
- I wanted a co-buyer to live with.
- Flexible & honest
- Had the same amount of deposit and similar income to me.
- And wanted the same things in the property as I did."

Make sure you meet the other potential co-buyers several times before you buy with them. You need to find people with similar mindsets who have the same goals for the property, such as setting the timeframe for selling the property.

Bear in mind that if you are investing in property you need to ensure that you don't need your money back in a hurry because regardless of your initial plans for the property it may not sell as quickly as you hope.

Keep the lines of communication open through the process with everyone involved.

Keep everybody involved in every aspect of buying the property.

Check all paperwork.

Make sure you understand the buying process in-depth from start to finish before beginning the project.

Find a mortgage provider that offers attention to detail and exceptional customer service as well as low rates.

Ensure that you are able to live happily with your co-buyers.

4.00%

5 yr variable rate mortgage
5.64% fixed