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Joint and guarantor 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.

What’s a joint mortgage?

A joint mortgage is when you apply to borrow money to buy a home with someone else, like your partner, a friend or a relative. Everyone who applies will have to meet our lending criteria, and they’ll be jointly liable for the mortgage payments. This means that if one you is unable to pay your share of the monthly mortgage payment, the other person has to pay the whole amount. All applicants will have a legal claim to ownership of the property.

Can I get a mortgage with a guarantor?

No, but you can ask us about applying for a joint-borrower, sole-proprietor mortgage. This means that you can apply with someone who’s willing to accept joint responsibility for making mortgage payments without having a legal claim to the property. This differs from a guarantor mortgage, as guarantors only become liable for the debt if the mortgage applicant can’t make them at all. Both you and the non-proprietor applicant will need to show that you can afford the mortgage payments.

What does being joint tenants or tenants in common mean?

When you buy a property with other people using a joint mortgage, you need to choose how your ownership of the property is defined legally. Here’s an outline of your options, but you should consider getting legal advice before making any decisions if you’re in this situation.

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 whether you need to set up a deed of trust, which sets out how much of the property each tenant owns. This helps you avoid any misunderstandings or problems if you later part and sell the property.

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. 

Starting your mortgage application

Get ready to apply

Find out how to book an appointment to start your mortgage application, and see the list of documents and information you’ll need to provide.

More ways to buy your home

Family Springboard Mortgage

Buy your home with help from a loved one

Saving for your first home isn’t easy – now family and friends can help with the deposit.

Help to buy centre

Help to buy mortgages

Get a helping hand when buying a home

Struggling to save a deposit? See how the government’s Help to Buy scheme could help you take the first steps towards your new home.

Shared ownership mortgages

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

When you part-buy, part-rent a home through shared ownership, 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.

0333 202 7580