With property prices rising faster than wages in many parts of the UK, buying on your own can be difficult, especially if you are a first time buyer in Manchester. That’s why more people are choosing to buy a home jointly with a partner, family member or friend.
Buying in joint names means you can combine your incomes, which can increase your borrowing potential and help you afford a home that might have been out of reach on a single income.
It’s also an approach that many lenders are happy with, provided the arrangement is clear and manageable.
How many people can buy together?
Most lenders will allow up to four people to buy a property together. All applicants must be included on the mortgage and the title deeds, and each person is responsible for the full monthly payment, not just their share.
This means that if one person stops paying, the others are still legally responsible for covering the full amount. Any changes to the mortgage in future, such as borrowing more or removing someone from the agreement, must be approved by all named parties.
What’s the difference between joint tenants and tenants in common?
When you buy a home in joint names, you’ll need to decide how the legal ownership will be structured. There are two main options:
Joint Tenants
This option is often chosen by couples. You both own the whole property equally, and if one of you passes away, the other automatically inherits the home.
You’ll need each other’s agreement to sell or remortgage, and you can’t leave your share to someone else in your will.
Tenants in Common
This arrangement gives each person a defined share of the property, which doesn’t have to be equal. It’s often used by friends, siblings or where one buyer is contributing more to the deposit.
You can choose what happens to your share in your will, and each person can sell or gift their share independently.
Your solicitor will explain both options and help you decide what’s most suitable for your situation when you’re getting ready to buy.
What happens if you separate?
If you have a joint mortgage and decide to separate, both of you remain responsible for the mortgage until it’s paid off or changed. Even if one person moves out, they’re still legally liable and any missed payments could affect both parties’ credit scores.
It’s important to talk to your mortgage lender or advisor early if you’re separating. We can help explain your options, whether that’s selling the home, keeping it in one person’s name or looking at a new agreement.
Can I remove my ex from the mortgage?
To remove someone from a joint mortgage, the lender needs to be sure the remaining borrower can afford the repayments on their own. This is called a transfer of equity.
You’ll need to go through an affordability check, and the lender will review your income, credit history and current financial commitments. If they’re satisfied you can manage the mortgage solo, they may approve the change. If not, you may need to consider other options, such as a guarantor or family member stepping in.
Even if you’ve agreed privately to take on the mortgage, it’s important to get it legally updated. Until the lender removes the other person’s name, they remain liable and so do you if things go wrong.
Date Last Edited: June 18, 2025
