Why and how to buy jointly
A joint mortgage combines incomes, increasing how much you can borrow, and is the norm for couples. But all parties are jointly and severally liable, and ownership structure matters. The best joint mortgage matches your relationship and goals — and protects each person if circumstances change.
1. Joint mortgages for couples
The standard route for partners, combining two incomes for affordability. Best for couples buying a home together — choose between joint tenants (equal, automatic survivorship) and tenants in common (defined shares) based on your situation.
2. Joint borrower sole proprietor (JBSP)
A family member's income supports affordability while only you own the property — useful for stamp duty and keeping parents off the deeds. Best for first-time buyers with family income support who want sole ownership.
3. Buying with friends or siblings
Some lenders allow up to four people on a mortgage, combining incomes to afford a property together. Best for friends or siblings buying jointly — use a tenants-in-common structure and a deed of trust to define shares.
4. Joint tenants vs tenants in common
Joint tenants: equal ownership, and if one dies their share passes automatically to the other(s) — best for couples. Tenants in common: defined (possibly unequal) shares you can leave in a will — best for friends, family or unequal contributions.
Protecting each party
- Use a deed of trust to record contributions and shares
- Choose the right ownership structure (joint tenants vs tenants in common)
- Consider life insurance so a death doesn't burden the others
- Agree what happens if someone wants to sell or move out
How to find the best joint mortgage
A whole-of-market broker can find lenders that accept your arrangement (including JBSP or multiple buyers) and advise on structure. Find a mortgage broker through Nesto — free, no obligation.
Frequently asked questions
How many people can be on a joint mortgage?
Typically up to four, though all are jointly and severally liable for the full debt. Combining incomes increases borrowing.
What's the difference between joint tenants and tenants in common?
Joint tenants own equally with automatic survivorship (best for couples); tenants in common own defined shares they can leave in a will (best for friends/family or unequal contributions).
What is a joint borrower sole proprietor mortgage?
One where a family member's income supports affordability but only you own the property — useful for stamp duty and keeping parents off the deeds.
Can I buy with a friend?
Yes — some lenders allow it. Use a tenants-in-common structure and a deed of trust to define each person's share.
What happens if one person wants to sell?
Agree this upfront in a deed of trust. Without one, disputes are harder — clarity from the start protects everyone.