Mortgages with up to 6 Applicants
Combine multiple incomes for greater borrowing power and shared ownership
What is a Multiple Applicant Mortgage?
A multiple applicant mortgage is a home loan taken out by 3-6 people who share ownership and responsibility for the property. This goes beyond traditional joint mortgages (2 applicants) to enable larger groups—families buying together, investment syndicates, business partners purchasing commercial property, or extended family groups pooling resources. All applicants are named on both the mortgage and the property title deed, with their incomes combined for borrowing purposes.
The primary advantage is dramatically increased borrowing power. With 6 applicants earning £30,000 each (£180,000 combined), you could borrow up to £810,000 at standard multiples of 4.5x income. This allows investment groups, extended families, and syndicate structures to access premium properties. However, with more applicants comes greater complexity: all parties are 'jointly and severally liable' (each responsible for 100% of the debt), and relationship breakdown becomes more complicated with more people involved.
Ownership structures and legal protection are critical with multiple applicants. Most mainstream lenders support up to 4 borrowers; specialist lenders extend to 6. Ownership can be 'joint tenants' (all own equally) or 'tenants in common' (specified percentages, often reflecting different deposit contributions). A comprehensive Declaration of Trust is essential to document ownership percentages, how sale proceeds are split, exit arrangements, and death/incapacity scenarios—protecting all parties' investments and preventing costly disputes.
Key Benefits of Multiple Applicant Mortgages
Combine up to 6 incomes to borrow significantly more, accessing premium properties
Spread mortgage payments across multiple parties, making homeownership more accessible
All names on the property title, providing equal legal rights and protections for all applicants
Suitable for families, business partners, friends, or extended family groups buying together
Expert Tips & Insights
Mortgages with up to 6 applicants are ideal for: extended family groups pooling resources, property investment syndicates, business partners buying commercial property, extended family buying a holiday home, or friends forming property investment groups. Most mainstream lenders allow 2-4 applicants, but specialist lenders support up to 6. Each applicant must be over 18 and pass credit and affordability checks independently.
With multiple applicants, lenders combine all incomes and apply standard multiples (typically 4-4.5x combined income). Example: 6 people earning £25k each = £150k combined × 4.5 = £675,000 maximum. However, all applicants' existing debt (credit cards, loans, childcare costs) is deducted from collective affordability. The more people involved, the more complex the affordability assessment, but the greater potential borrowing power.
With more than 2 applicants, ownership clarity becomes critical. 'Joint tenants': all own 100% equally; if one dies their share passes to survivors. 'Tenants in common': each owns a specific percentage (can be unequal). Tenants in common is recommended for multiple applicants as it allows different ownership percentages reflecting different deposit contributions or investment levels. A detailed Declaration of Trust is essential.
All applicants are 'jointly and severally liable'—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. With 6 applicants, this creates complex risk dynamics. Everyone must fully understand they're liable for the full mortgage if others default. This is why carefully chosen co-applicants and robust legal agreements are essential.
If relationships break down (friend fallouts, family disputes, business partner conflicts), all remain liable for the full mortgage until resolved. The more people involved, the higher the risk of disputes. Clear solutions in advance: sell the property and split proceeds according to ownership shares, one person buys out others' shares by remortgaging in fewer names, or continue paying jointly. A detailed Declaration of Trust including exit strategies is critical.
When multiple people contribute different amounts (different deposit sizes, ongoing payment contributions), document everything with a Declaration of Trust. Specify: each person's ownership percentage, how sale proceeds will be split, treatment of mortgage overpayments, what happens if someone wants to exit, death/incapacity scenarios, and how shared maintenance costs are allocated. This protects everyone's investment and prevents costly disputes later. Consider appointing a trustee to manage the arrangement.
Frequently Asked Questions
Ready to Apply with Multiple Applicants?
Our mortgage experts specialise in group and syndicate mortgages. We'll guide you through ownership structures, confirm lender suitability, calculate combined borrowing power, and help you navigate the complexity of multiple-applicant mortgages.