First-time buyers James, 26, and Danny, 27, bought a £200,000 flat together in Prestwich, Greater Manchester earlier this year
Getting a foot on the property ladder has become even more daunting for first-time buyers, especially in the current climate. Hundreds of mortgage deals have fallen through in recent weeks and the offers that are now being put to new homeowners appear to be even more unaffordable than before.
James, 26, from Manchester bought a two-bed flat in Prestwich, Bury in February this year after getting accepted for a mortgage with his friend Danny Turner, 27. “The flat that we bought is one that we originally viewed to rent. The estate agent told us that they were also selling it and that’s when we started to look into mortgages and how much it might cost.
“I had a girlfriend at the time - and I don't think she wasn’t too happy about it. In all honesty I was a bit blasé about getting a mortgage with Danny at first because I wasn’t sure how far it was going to go. “I find that the responsibilities are easier to handle as friends. It would be a lot more amicable if there were any issues. I've seen situations that some of my friends have been in when they're in a relationship and it can get quite messy.