68. Messy Mortgages

Buying a house is one of the biggest purchases of your life. So it makes sense that it can be a little stressful.

An extra layer of complexity get's added when you haven't different financial circumstances to the person you are buying with. That could be a host of reasons. Second (or third or fourth) relationships, one of you has inherited money, one of you earns more than the other.

In this episode we're tackling the questions you sent in when we asked you about your less than straightforward mortgage situations.

You asked us how to handle buying a house when:

1.     Someone has a bigger deposit.
2.     That money was gifted.
3.     One earns more than the other.
4.     What if you want different mortgage terms?
5.     What if one of you want to overpay?

Jennifer was on hand to handle the technical questions. As with everything though, communication is key.

If you're entering into a process of spending hundreds of thousands of pounds, it makes sense to sit down and have a conversation about what money means to you  and what the home means to you. What are your expectations? Today and in the future.

A key takeaway was being prepared for the fact that things change. You may have vastly different financial circumstances today, but that may not always be the case. Roles may be reversed. Keep checking in with each other financially, and create a space to have open and honest conversations.

Check out episode 27 The Art of Sharing Finances for more tips.
And check out Jennifer's first appearance on the podcast back in January 2022 episode 10 Everything Mortgages

YOUR HOSTS
Julie Flynn is an experienced independent financial adviser and financial coach. Justice and equality drive Julie. Which is why she’s spent years studying and researching how stress affects our financial decision making.

Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.
Ebb & Flow Financial Coaching | Bree Wealth & Tax | Instagram

Cafe Mortgage Expert:
Jennifer O'Neil is a mortgage and protection specialist and director of Athena Mortgages. Having been in the industry since 2014 Jennifer decided to set up a company in 2020 that suited her core values as a broker – integrity, service, honesty and continuous improvement.
LinkedIn | Instagram | Facebook

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