Can my friends and I get a mortgage together?

With the recent increase in house prices, it is becoming more and more popular for friends to buy together as it's a way of getting onto the property ladder. You can do this with up to four people in total.

When you buy a mortgage with a group of people, it's exactly the same as buying with just one other person, although the salary rules aren't as straightforward. How much you will be able to borrow as a group will depend on the mortgage lender, but there are deals out there that will lend three times the salary of each person.

Legally it can be quite complicated getting a mortgage with a group of friends - so it's vital that you and your group of friends fully appreciate the legal processes if one of you wants to move outn or if one of you dies. For this reason you must consult a solicitor.

Don't forget that if you buy a house as a group, you will all have to cover the full mortgage even if one member of the household can't provide their share of the monthly mortgage payments. Whatever happens, the full amount still needs to be paid each month.