Opening a shared account when you’re renting can take away the stress of splitting the monthly outgoings.
‘Providing all parties have good credit history, a joint account for paying bills is the easiest way to neatly manage finances in a rented property,’ says Mustard estate agents, which covers Milton Keynes, Towcester and beyond. But there are some things you should know before taking the plunge – including what to do if it does go wrong…
Money talks
The issue of trust obviously comes up, particularly if you’re moving in with people you don’t know that well. The government’s Single Financial Guidance Body (SFGB) says that if you have doubts, you shouldn’t open a joint account.
OnTheMarket plc (LON:OTMP) provides property search services for buyers, sellers, landlords, and tenants in the United Kingdom.
