Yes — absolutely. In fact, it’s becoming one of the most common ways people get into the property market sooner, especially when saving a full deposit or managing a mortgage on your own is tough.
Here’s how it works and what you need to know.
1. Buying together can make things easier
When two (or more) people buy together, everything becomes more achievable:
- You can combine your incomes
- You can split the deposit
- Your borrowing power increases
- You can afford a better home or a better location
- You can enter the market years earlier
Instead of renting separately, you’re teaming up to actually own something — which can fast-track your first step into the market.
2. How friends or siblings usually structure the loan
Most buyers choose tenants in common, which means each person owns an agreed share of the property (50/50 is common, but you can split however you want).
You’ll both be on:
- The loan
- The title
- The contract
And both of you are responsible for the repayments.
It’s simple when you’re close, you trust each other, and you have the same goals for the property.
3. What you should agree on first
Before buying together, it’s important to have a clear plan.
Most co-buyers discuss:
- How repayments are split
- Who lives in the home (or if you rent it out)
- How you’ll handle bills and maintenance
- What happens if one person wants to sell
- How long you plan to keep the property
Your conveyancer or solicitor can even draft a simple agreement so everything is clear up front.
This keeps the friendship or family relationship strong and stress-free.
4. Low-deposit options for co-buyers
The good news? Friends and siblings can still use many first-home pathways — including low-deposit options. We help buyers team up all the time — and it’s one of the smartest ways to beat rising rents and get into the market faster.
If you want to know what you could afford together, we can run the numbers for you and show you your options.
