Joint Ownership with a friend Clarification

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10 Posts
9 years ago
Hi, I am new here and have a plan I wanted to get some thoughts on if there are any problems associated I haven't considered.

I am buying BTL house but am a first time buyer. So my plan is to get one of my friends on the deed who owns there own house. I am looking for my own residential house in the meantime and will re-mortgage in a year or so to take my friend off the deed.

I would have a trust deed with my friend that basically says I will pay all the bills and own the house.

I have plenty of additional capital and my own house, the numbers stack very well on the property and will come already tenanted, so the risk is extremely minimal.

Might there be any difficulties or concerns with doing this?

Thanks for advice in advance!

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