A guide to
joint mortgages

On this page

Buying a home together

Consider the pros and cons

The legal side of things

Leaving a joint mortgage

Finding the deal for you

Find out how much we could lend you

Buying a home together

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

Royal Bank of Scotland only provides joint mortgages for two people.

Consider the pros and cons

The pros

Buying with someone else can be a good way to get on the property ladder quicker than if you were buying alone
You'll be able to combine your savings and have a bigger deposit
You can split homebuying 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 in many cases 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.

The legal side of things

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.

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.

Visit the Money Advice Service website

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.

Use our calculator

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.

Get an Agreement in Principle

A guide to
joint mortgages

Buying a home together