Joint mortgages: how much can a couple borrow?
The short answer: lenders add your incomes together and usually lend 4 to 4.5 times the total. Two people on £30,000 each could borrow around £240,000 to £270,000, and a couple on £45,000 and £35,000 around £320,000 to £360,000. As with a single buyer, the lender’s figure can be more than feels comfortable. At 6%, a 4.5 times joint mortgage takes about 40% of a typical couple’s take-home pay.
There’s more to a joint mortgage than adding up two salaries, though. Below are the figures for common pairs of incomes, then the things that catch couples out: different deposits, one bad credit file, first-time buyer stamp duty, and what happens if you split up.
Joint borrowing by income
| Incomes | 4.5× joint income | Payment at 6% | Joint take-home | Share | Loan at 30% of take-home |
|---|---|---|---|---|---|
| £25,000 + £25,000 | £225,000 | £1,349 | £3,462 | 39% | £173,206 |
| £30,000 + £30,000 | £270,000 | £1,619 | £4,028 | 40% | £201,561 |
| £35,000 + £25,000 | £270,000 | £1,619 | £4,028 | 40% | £201,561 |
| £40,000 + £20,000 | £270,000 | £1,619 | £4,028 | 40% | £201,561 |
| £45,000 + £35,000 | £360,000 | £2,158 | £5,162 | 42% | £258,270 |
| £50,000 + £50,000 | £450,000 | £2,698 | £6,295 | 43% | £314,979 |
Repayment mortgage over 30 years. Take-home after 2026/27 tax, National Insurance and a 5% pension each.
Two incomes go further than one
Here’s something lenders don’t look at but you should. A couple on £30,000 each and a single person on £60,000 can both borrow £270,000 at 4.5 times. But the couple takes home £4,028 a month and the single earner £3,670. That’s because each of the couple gets their own tax-free allowance and pays only basic rate tax. So the same £1,619 payment is 40% of the couple’s pay and 44% of the single earner’s.
The flip side: if one of you stops working, for example for parental leave, the household loses a whole income. Check the payment against the smaller income too, and against statutory pay if a baby is on the cards. Our maternity pay calculator shows what maternity leave pays month by month.
Who can apply together
- Couples, married or not.
- Friends or siblings buying together.
- Parents and children, including parents helping a child on to the ladder.
- Up to four people with many lenders, though some only use the two highest incomes in their calculation.
Every name on the mortgage is responsible for the whole debt. Lawyers call this “joint and several liability”. If one person stops paying, the lender can chase the others for the full amount.
Credit files: one affects both
When you apply together, credit reference agencies link your files as “financially associated”. Lenders look at both, so one person’s missed payments, defaults or heavy card use can limit the deals open to you both, or mean a higher rate. Check both files with the three main agencies before you apply, fix any mistakes, and make sure you’re both on the electoral roll. If one record is badly damaged, a broker who knows specialist lenders is worth talking to.
Different deposits and different shares
There are two ways to own a home together in England and Wales, and the choice matters most when you put in different amounts:
| Joint tenants | Tenants in common | |
|---|---|---|
| Who owns what | You both own the whole property together | You each own a set share, such as 60/40 |
| If one of you dies | It passes automatically to the other | Your share goes under your will |
| Best for | Married couples putting in similar amounts | Unequal deposits, friends, unmarried couples and second marriages |
If you’re tenants in common, a declaration of trust drawn up by your solicitor records who put in what and how the money is split if you sell. For unmarried couples it’s especially important, because the law gives cohabitants far fewer rights than married couples if they separate. Scotland has its own rules, and you’ll set it out in the title deeds there.
First-time buyer stamp duty: both of you must qualify
In England and Northern Ireland, first-time buyer relief only applies if every buyer has never owned a home anywhere in the world. If one of you has owned before, you pay the normal rates. On a £280,000 home that’s the difference between £0 and £4,000. Use the stamp duty calculator to check your price, including Scotland’s LBTT and Wales’s LTT.
Joint borrower sole proprietor: help from a parent
If your income alone won’t stretch far enough, some lenders offer a joint borrower sole proprietor (JBSP) mortgage. A parent or relative adds their income to the application and is liable for the payments, but only you own the home and are on the deeds. Because they don’t own part of the property, it doesn’t count as a second home for them, so the stamp duty surcharge doesn’t apply. Lenders usually cap the term at the older person’s retirement age or around 75 to 80, which can push the monthly payment up. Everyone involved should get independent legal advice.
If you split up
A joint mortgage doesn’t end when a relationship does. You’re both still liable until one of these happens:
- One of you buys the other out and takes the mortgage on alone. The lender must agree that you can afford it on one income.
- You sell and split what’s left after the mortgage and costs, according to how you own the home.
- You keep it jointly for a while, for example until children finish school, with a written agreement on who pays what.
Keep paying while you sort it out. Missed payments hit both credit files. If capital gains tax could apply, for example to a home one of you has moved out of, the rules for separating couples are worth checking.
Next step
Put both incomes into the mortgage affordability calculator, then check the payment against your joint take-home. For one income, see how much mortgage you can get on your salary. To see what can cut your offer, read what mortgage lenders look at.
Sources
This is general information, not mortgage or legal advice. Lenders set their own criteria; a solicitor can advise on how to own your home.
Common questions
How much can a couple borrow for a mortgage?
Most lenders add your incomes together and lend 4 to 4.5 times the total. A couple earning £30,000 each could borrow around £240,000 to £270,000. Debts, childcare and credit history can bring that down.
Do you have to be married to get a joint mortgage?
No. Unmarried couples, friends, siblings and parents and children can all apply together. Most lenders accept two applicants and many accept up to four.
Can we get a joint mortgage if one of us has bad credit?
Possibly, but lenders look at both credit files, so one person’s missed payments or defaults can limit the deals available to both of you. Some lenders specialise in this. Check both files before you apply.
Is it first-time buyer stamp duty if only one of us has owned before?
No. In England and Northern Ireland every buyer must be a first-time buyer to get the relief. On a £280,000 home, two first-time buyers pay £0 and anyone else pays £4,000.
What happens to a joint mortgage if we split up?
You are both responsible for the whole mortgage, not just half, until it is paid off, one of you takes it over (which needs the lender’s agreement), or the home is sold. How you own the property, as joint tenants or tenants in common, decides how the equity is split.
What is a joint borrower sole proprietor mortgage?
A mortgage where a second person, often a parent, adds their income to help you borrow more, but only you are on the deeds. They are liable for the payments but don’t own any of the home. It can avoid the second-home stamp duty surcharge for the parent.