With thousands of people in the UK wanting to climb on the property ladder for the first time, is now the time to do it?

Property prices have taken a hit over the last two years but on the bright side Nationwide Building Society have reported the 7th consecutive month of property prices rises so many people feel now is a good time to get on the property ladder and take advantage of some good property prices. Having said that, property is still expensive and with mortgage criteria having tightened up too over the last 12 months it's not easy for first time buyers.

More and more people are overcoming this hurdle by joining forces with other potential buyers and investing in their first property together. This not only has the benefit of sharing the cost of buying a house but also potentially the ongoing costs of running the new home.

Mortgage lenders are on board with this approach and generally happy to consider up to four individual applicants on a mortgage application. As lenders assess an applicants ability to borrow money partly on income, having more than one salary coming into play will usually strengthen an application.

Whilst there are many factors to take into account when considering such a shared purchase one of the most important is making sure you find the right people to share with - finding the right property partner.

It's important to choose your property partner carefully as you are likely to not only have a financial relationship with them but also be living under the same roof. Get to know what each others likes and dislikes are, what sort of hobbies and interests you have and whether you are likely to be compatible 'house-mates'.

Once you're confident you have the right property partner, a good whole of market mortgage broker in addition to a reputable solicitor will help with the red tape and hopefully make the move a safe and cost effective option.

For more information about how to find your ideal property partner visit http://www.propertydating.com or take a look at http://www.equatemortgages.co.uk for tips on getting the right mortgage.

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