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Joint mortgages

Buying property with other people

Buying property with your partner, family or friends can make sense, as long as you weigh up the benefits and risks of taking out a joint or guarantor mortgage.

Before you apply for a mortgage

When you set out to buy a home, it’s understandable that your mind is set on all the good things you’ve got to look forward to. But a mortgage is the most significant financial commitment you’re likely to make, so you need to think about the things that could change in your life, or in the life of the other mortgage holders, before you take on a joint mortgage.

You should also bear in mind that all of the mortgage holders will be jointly liable for the mortgage repayments – so if one of you can’t pay, the others will need to make up the full amount. And they’ll all need to meet our lending criteria, even though we’ll only consider the income of two applicants. This means we’ll look at everyone’s circumstances and finances, including their credit score, debts, commitments and regular spending. 

Your property ownership options

When you buy a property with other people, you need to choose how it’s going to be owned – this is usually as joint tenants or as tenants in common. You can also enter into a joint mortgage with your parents where they act as guarantor – you’ll find more on this further down the page.

Joint tenants

This option might be suitable if you’re married or in a long-term relationship with the person you’re buying with. It means you each

  • Have equal rights to the property
  • Can claim an equal share in any profit made if the home is sold
  • Will automatically inherit the property if the other person dies

Tenants in common

This option might be suitable if you’re teaming up with friends or family members to buy a home. It means you

  • Can each own a different share of the property
  • Won’t automatically inherit the property if the other tenants die
  • Can choose who to leave your share to in your will

If you choose to be tenants in common, you should consider asking your solicitor to set up a deed of trust.

Buying with your family as guarantor

You can apply for a joint mortgage with members of your family through our Family Affordability Plan. This option could enable you to afford a larger mortgage and access a wider range of mortgage deals. You’ll have full ownership of the property, and your family members won’t be liable for Stamp Duty.

Both you and your family will be responsible for all mortgage repayments and charges, so you’ll all need to demonstrate that you can afford the repayments. Your parents will also need to show us that they’ve taken independent legal and tax advice, so they understand the risks involved.

If your circumstances change and you can afford the repayments on your own, you can remortgage and release your parents from the joint mortgage. 

How to apply

Use our calculators to see how much you could afford to borrow, get an Agreement in Principle to see if we could lend what you need and find out how to prepare for your mortgage appointment.

Mortgage calculators

Work out the kind of mortgage you could afford

Use our mortgage affordability calculators to work out how much you could borrow and what kind of deposit you need for a mortgage.

Agreement in Principle (AiP)

Take the first step to your mortgage with an AiP

Start an Agreement in Principle (AiP) online to find out quickly if you could borrow the amount you need – without affecting your credit score. 

Mortgage appointment

How to prepare

Find out which documents you’ll need and what you’ll discuss with our mortgage adviser at your appointment.

More ways to buy your home

Family Springboard Mortgage

Buy your home without a borrower deposit

Buy a home without a borrower deposit if your family or loved ones can provide 10% of the property’s price as security.

Help to buy centre

Help to buy mortgages

Get a helping hand when buying a home

Struggling to save a deposit? Help to Buy could suit you – while our Help to Buy ISA offers a bonus if you’re saving for a deposit on your first home.

Shared ownership mortgages

Buy a share of a home and pay rent on the rest

Buying a home through shared ownership means you can apply for a smaller mortgage amount – so your deposit could be lower, too.

First-time buyer guides

Start your adventure

Expert tips and guides to help you prepare as you set off on the path towards your first home.

Need some help?

Chat to us online

Start a web chat if you a question about applying (we can’t give advice about choosing a mortgage during web chats).

Call us

Call us1 any time – lines may be closed at off-peak times on bank holidays and during Christmas.

0800 197 1081