Meridian launches family and friends mortgage

Meridian has launched a family and friends mortgage, which allows members to pool their money so they can buy a shared home.

The mortgage lets as many as four people be placed on a title, with no additional set-up costs. The credit union is also offering tips on preparing an agreement, creating a budget and discussing shared expenses.

For more on mortgages, read:

Is mortgage fraud on the rise?

Only 12% of millennials confident enough to make mortgage decisions

Not all mortgage rate hikes are created equal

Should coupled clients have joint accounts?

Five ways to navigate blended-family finances

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.