Overview
- Mortimer and a friend bought a £420,000 two-bed flat in Hackney in July 2015, splitting a £42,000 deposit and £600-a-month mortgage payments.
- The partnership unraveled after two years when Mortimer’s desire to live with her partner sparked disagreements, leading to a protracted dispute and a year of forced cohabitation following her January 2020 breakup.
- Unable to agree on the property’s future, Mortimer’s friend bought out her share in mid-2021, ending the joint ownership but leaving their decade-long friendship irreparable.
- Since then, Mortimer has purchased her own £460,000 two-bed flat and now shares her experience online to caution millennial buyers about informal co-ownership agreements.
- She recommends prospective co-buyers secure a declaration of trust before purchase, outline clear exit strategies and wait for individual financing where possible to avoid disputes.