What is a Joint Mortgage?

Answer by  safnme3 (179)

A joint mortgage is one that you share with another person. Usually this would be your significant other. It is only a good idea if you trust this person completely.

Answer by  tamarawilhite (17883)

A joint mortgage simply means that all people on the mortgage are jointly responsible for it. However, a joint mortgage does not automatically give you partial ownership of the property purchased with the mortgage. You could be liable for the mortgage but have no ownership of the house.

Answer by  Roger70 (107)

Joint mortgages are loans secured on property granted to more than one person, each of which is liable for the whole amount. This protects the lender should one borrower default.