Joint Mortgages
Combine incomes to borrow more and share homeownership
Content reviewed: 13 January 2026
How do joint mortgage applications work?
Joint mortgages allow two or more people (couples, friends, or family) to buy property together by combining incomes. Lenders typically offer 4-4.5x combined annual income. All applicants are 'jointly and severally liable', meaning each is responsible for 100% of the debt. Choose joint tenants for equal ownership or tenants in common for unequal shares.
What is a joint mortgage?
A joint mortgage lets two or more people buy property together by combining incomes for higher borrowing. All parties are equally responsible for the debt. Choose joint tenants for equal shares or tenants in common for different splits. Your Home Finance guides you through joint ownership options.
What is a Joint Mortgage?
A joint mortgage is a home loan taken out by two or more people (typically couples, but also friends, siblings, or family members). All applicants are named on both the mortgage agreement and the property title deed, sharing legal ownership and full responsibility for mortgage repayments. Lenders assess the combined income, credit histories, and financial commitments of all applicants to determine how much you can borrow and at what interest rate.
The primary advantage of joint mortgages is increased borrowing power—lenders typically offer 4-4.5 times your combined annual income, allowing you to purchase more expensive properties than either applicant could afford alone. For example, if you earn £30,000 and your partner earns £35,000, you could borrow up to £292,500 jointly compared to £135,000-£157,500 individually. This makes joint mortgages the most common way couples and co-buyers access the property market.
However, joint mortgages come with shared responsibility and risk. All applicants are 'jointly and severally liable'—meaning each person is responsible for 100% of the mortgage debt, not just their share. If one person stops paying, lenders can pursue all co-borrowers for the full amount. It's also important to understand ownership structures: 'joint tenants' (equal ownership, suitable for couples) versus 'tenants in common' (unequal shares, suitable when deposit contributions differ or for non-couple buyers). Legal protection through a Declaration of Trust is highly recommended for unmarried couples or unequal deposit contributions.
Key Benefits of Joint Mortgages
Combine both incomes to borrow more, accessing properties you couldn't afford alone
Split mortgage payments and household costs, making homeownership more affordable
Both names on the property title, providing equal legal rights and protections
Access to more competitive rates with combined higher deposit and stronger application
Expert Tips & Insights
Joint mortgages aren't just for married couples—you can apply with partners, friends, family members, or business partners. Most lenders allow up to 4 people on one mortgage (some allow 6). All applicants must be over 18 and pass credit and affordability checks. Common joint applications: married/unmarried couples, siblings buying together, friends pooling resources, or parents helping children buy with them on the mortgage.
Lenders typically allow 4-4.5x combined annual income. Example: £30k + £35k = £65k combined × 4.5 = £292,500 maximum borrowing. This is significantly more than solo applications. However, lenders also assess total committed expenditure including all applicants' credit commitments, childcare costs, and living expenses. If one applicant has substantial debt or dependents, this reduces borrowing capacity despite combined income.
Joint tenants: you each own 100% of the property equally; if one dies, it automatically passes to the survivor(s). Most couples choose this. Tenants in common: you own specific shares (can be unequal, e.g., 60/40) which pass to your estate if you die, not automatically to the co-owner. This suits friends, siblings, or where one contributed more deposit. Unequal shares are common when deposit contributions differ significantly.
All joint mortgage holders are 'jointly and severally liable'—meaning each person is responsible for 100% of the mortgage, not just their share. If one person stops paying, the lender can pursue any or all borrowers for the full amount. This protects lenders but means if your joint applicant loses their job or refuses to pay, you're still legally responsible for their half. This is why choosing your co-applicant carefully is critical.
If relationships break down (divorce, separation, or friend fallout), both are still liable for mortgage payments until it's paid off, sold, or one buys the other out. Options: sell the property and split proceeds, one person remortgages in their sole name (requires sufficient income and lender approval), or continue paying jointly until resolved. Consider a 'Declaration of Trust' document outlining what happens in various scenarios—particularly important for unmarried couples or friends.
If one applicant contributes more deposit, you can split property ownership unequally using 'tenants in common'—for example 70/30 reflecting deposit contributions. Document this with a Declaration of Trust stating each person's share, what happens on sale, how mortgage overpayments are treated, and death/separation scenarios. Without this legal document, default is 50/50 ownership regardless of deposit contributions. Essential for protection if contributions differ.
Frequently Asked Questions
Ready to Apply for a Joint Mortgage?
Our mortgage experts will help you understand how much you can borrow together, explain ownership options, and find the best rates for your joint application.