Can I get a mortgage with friends?

Yes, you can absolutely purchase a property with friends. Generally speaking, you will need to factor in the same rules as you would for any mortgage. However, bear in mind some lenders may limit the number of people you are allowed to put on the mortgage or how many incomes can be factored in.

Can more than two people apply for a mortgage?

It is standard practice for a mortgage lender to cap the number of people they are happy to offer a mortgage to at two. However, in some instances, joint mortgages can be offered for three and sometimes even four applicants.

How do mortgage lenders assess eligibility for a joint mortgage with applicants?

For a joint application, mortgage lenders tend to assess mortgage affordability by evaluating the mortgage multiples on offer and adding up each applicant’s income to identify how much they can borrow.

Ultimately, the lending criteria, mortgage term, and mortgage repayments will vary from applicant to applicant.