{"id":175426,"date":"2019-03-07T11:46:05","date_gmt":"2019-03-07T11:46:05","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=175426"},"modified":"2026-02-18T07:54:33","modified_gmt":"2026-02-18T07:54:33","slug":"joint-mortgages","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/mortgages\/joint-mortgages","title":{"rendered":"Joint mortgages explained: Buying property with parents"},"content":{"rendered":"

There are plenty of advantages to securing a joint mortgage, but it\u2019s important to be aware of the terms involved.<\/p>

Your co-applicant(s) will have a huge impact on whether you\u2019re approved for a mortgage, as well as the result of other financial applications you make in the future.<\/p>

You\u2019ll be equally responsible for repaying the mortgage debt, even if only one person stops making repayments. You\u2019ll also need to agree when you want to sell the property.<\/p>

Who are joint mortgages for?<\/h3>

You can get a joint mortgage with up to three other people and there are no limits as to who <\/em>these people are. However, when you apply for a joint mortgage, all applicants are considered jointly. So, if your co-applicant is considered a risky prospect, it could harm your chances of having a mortgage approved.<\/p><\/div><\/div><\/div>

How much can you borrow with a joint mortgage?<\/h3>

A key advantage of a joint mortgage is the extra borrowing power it provides. Lenders will consider the annual income of all applicants jointly and agree to lend a specific multiple of this figure (usually between four and five times as much). The exact multiple will depend on your choice of lender and how reliable it deems you to be. Applicants with good credit scores are often approved to borrow bigger multiples of their income.<\/p><\/div><\/div><\/div>

We've teamed up with L&C Mortgages to help you compare live rates from over 80 lenders.<\/p>\n

I want to...<\/div>\n
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<\/use><\/svg>Move house<\/a><\/div>\n<\/article>\n<\/div>\n
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Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.<\/div><\/article>