Kelli28

Some people can salary sacrifice mortgage payments like nurses or at least they used to be unsure if you can still do that. So if the mortgage was in joint then only 50% could be sacrificed.

bitzenpces

I think that if the property is in both names and rented out, then both can claim costs on their tax return. If only one is working and paying tax, then only that one can claim costs of renting out that property. For the one not working, then the costs of renting out the property are added to any income received, further reducing any tax benefits. I think that any tax benefits accrued while that owner is not working can later be claimed when work is resumed, for a certain time anyway. If the property is in only one name, then it is probably more sensible to have it in the name of the person most likely to be working. Personally, I think that it is fairer to have the property in both names, certainly if both persons are contributing to the costs.

Elvis71

How long will it be for a new entrant to access mortgage?

old.sparkles

I think that would depend on how much of a deposit you have and how long you have been with your employer. Less than 20% deposit and you need mortgage insurance, and some lenders want you to be with employer for at least a year. Some lenders will do less. If you have the 20% deposit, you don't need the insurance and it may be easier. I think minimum deposit is 5%. Don't forget there are other costs involved too

Elvis71

Thanks old.sparkles