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Owning a home with someone else

Joint Mortgages

Buying a home together

A joint mortgage is one of the most common ways to buy a property together, as it allows two (or sometimes more) people to take out a mortgage to buy a property.

NatWest only provides joint mortgages for two people.

Joint mortgage pros and cons...

The pros

Buying with someone else can be a good way to get on the property ladder more quickly compared to buying alone.

You'll be able to combine your savings and have a bigger mortgage deposit.

You can split home buying costs such as stamp duty and legal fees, as well as household bills.

The cons

You'll need to decide on the best way to set up your joint mortgage legally.

You need to think about what happens if one of you defaults on the mortgage as you could both be responsible for any missed repayments.

It's important to buy a property with someone you trust to protect against this kind of situation. 

Joint Tenancy

You should set up your mortgage as a joint tenancy if you both want to hold an equal share of the property, regardless of who paid for what in the purchase. If either one of you dies, full ownership automatically passes to the other.

Tenancy in Common

If one of you has invested more cash into the property than the other, you can divide the ownership rights to reflect this using a Tenancy in Common. You can split the percentages of ownership however you like. If you die, your share of the property will go to the person named as your recipient in your will.

Find the right joint mortgage deal for you

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Compare our rates and repayments

Look at the mortgage rates we offer and the monthly repayments to see what could work for your joint mortgage.
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When you have a property in mind

See how much we could lend you with an Agreement in Principle. It won't affect your credit score as we use a soft credit check.

Leaving a joint mortgage

If your circumstances change and you decide you want to leave a joint mortgage, the first thing to do is contact your lender to discuss the options available to you.

You can get more detail on the options available to you from the Money Advice Service.

Frequently asked joint mortgage questions

What is a joint mortgage?

A joint mortgage is a mortgage that allows two people to buy and own a property together. 

You'll most likely take out a joint mortgage if you're buying a property with a partner, spouse, friend or family member. Both owners will share equal responsibility for making the mortgage repayments. It’s important you trust the person you're applying for a joint mortgage with, and you know they'll be able to pay their share.

Can I use a joint mortgage calculator?

Yes, you can find out how much you may be able to borrow and what your monthly repayments could be with our mortgage calculator, it takes less than 5 minutes and is a useful first step in your mortgage journey.

When you go through our calculator, we'll ask 'How many people are applying?'. Simply choose '2', and we'll guide you through the rest of the process.

For a more personalised indication of what we may be able to lend, use our Agreement in Principle tool, it takes less than 10 minutes and won’t affect your credit score.
 

How do we apply for a joint mortgage?

The process for applying for a joint mortgage is very similar to applying as a sole borrower. You can find out more about how to apply for a mortgage with NatWest.

Remember, if you apply for a joint mortgage you will both need to provide information about who you are, your relationship to each other and your incomes, amongst other things. 

More joint mortgages questions answered

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Other joint options...

We offer a range of banking options between two parties. You can also learn more with our tips and information for thinking about moving in with someone.

Joint bank accounts

Having a joint bank account is the same as having your own, except two people have control over the account. 

Joint loans

A joint personal loan is a great option if you’re looking to borrow money with a partner, family member or friend.

Joint savings

Joint savings accounts are a great way for two people to save together towards a joint goal.