More than half of prospective first-time buyers would consider purchasing a home with a friend or family member as affordability pressures encourage alternative routes into homeownership.
Research from Mojo Mortgages found that 52% would consider buying with somebody other than a romantic partner, rising to 61% among Generation Z.
The trend reflects the financial disparity between sole and joint applicants. Mojo’s customer data shows that joint buyers borrowed an average of around £301,000 during 2025, compared with £203,000 among those applying alone — a difference of approximately 48%.
Nevertheless, sole buyers accounted for 53% of the broker’s applicants last year, marginally outnumbering joint applications.
BUYING POWER REMAINS THE BARRIER
Joint applicants provided an average deposit of approximately £97,000 during 2025, compared with £68,000 among sole buyers.
Mojo calculates that somebody earning the average UK salary of £39,000 might typically borrow between £156,000 and £195,000, based on an income multiple of four to five times earnings.
Younger buyers aged between 18 and 24 were the most likely to consider purchasing with friends, at 23%. However, those aged 65 and over followed closely at 20%, suggesting platonic co-buying is not exclusively a Gen Z trend.
Meanwhile, 30% of respondents would only buy with a partner and 19% would only consider purchasing alone.
LEGAL AGREEMENTS ARE ESSENTIAL
Friends buying together are normally jointly responsible for the entire mortgage, meaning each borrower remains liable if the other stops making their share of the payments.
Buyers must also decide whether to own as joint tenants or tenants in common. The latter allows each party to hold a defined percentage, which may be appropriate where deposit contributions differ.
A declaration of trust can record contributions, responsibility for mortgage payments and maintenance costs, and how equity will be divided. Buyers should also agree an exit strategy covering a sale, buyout or change in personal circumstances.
ALTERNATIVES FOR SOLE BUYERS
John Fraser-Tucker, Head of Mortgages at Mojo Mortgages, says: “With more young people prioritising independence and choosing to stay single, property ownership strategies are evolving rapidly. Buying solo is completely achievable, but when relying on one salary, the main barrier isn’t eligibility, it’s borrowing power.
“For those who want to buy without a romantic partner, non-romantic co-buying with friends or siblings is becoming a genuine alternative. However, for those who prefer sole ownership, there are several lesser-known pathways to boost affordability without taking on a full joint mortgage.”
These include Joint Borrower Sole Proprietor mortgages, guarantor arrangements, gifted deposits, Shared Ownership, longer mortgage terms and 95% loan-to-value products supported by the Mortgage Guarantee Scheme.
