Want a Mortgage With 3 or 4 Applicants?
You can absolutely get a mortgage with three or four people together. Out of more than 100 lenders across the market, around 50 will consider this, and some even accept up to six people. Over the last 10 years, we have helped over 2,600 customers with multiple applicants, and three of our team are dedicated experts in this type of mortgage. We are confident we can get your mortgage approved and find you the best deal. If we cannot and another broker does, we will give you £100.*
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Author: Pete Mugleston
CeMAP Mortgage Advisor, MD
Reviewed by: Luke Naylor
FTB and Bad Credit Specialist
Quick Summary
There are at least 50 lenders that allow up to four applicants on a mortgage, and a handful of specialists that can consider up to 6 people!
It’s important to note that not every lender will consider all the applicants’ incomes when working out affordability, so if you’re doing it simply to maximise your borrowing, there might be better ways to approach it, for instance, “joint borrower, sole proprietor”, which can boost affordability while keeping ownership limited to select applicants.
Bear in mind that everyone named on the mortgage is equally responsible for the repayments, even if only one person plans to live in the property.
To find out the best option for you please make an enquiry and one of the experts can help!
How many people can be on a mortgage?
Three to four people can buy a house together. It’s essential to draft a legal agreement detailing each person’s financial contributions, ownership shares, and exit strategies. This document ensures clarity and fairness and outlines decision-making for maintenance, costs, and unforeseen events among all involved.
All applicants are equally responsible for repayments; lenders will assess each person’s financial details. This option is available to first-time buyers as well as other purchasers.
Most lenders won’t accept more than two applicants, however, and of those that do, some will only do so if they are members of the same family. Only a few will offer three or four-person mortgages where the borrowers are unrelated, such as groups of friends.
Mortgages with three or more named borrowers are sometimes known as multi-applicant or multiple-person mortgages, or occasionally 3-way or 4-way mortgages.
If you’re applying with more than one other person, seeking specialist advice is recommended, as many mainstream lenders are ill-equipped to handle your application.
Here are some of the key criteria lenders will look at when they assess your application:
- Only a few lenders consider 3+ incomes in affordability
- All named parties are equally responsible, even if only one lives in the home
- “Joint borrower, sole proprietor” schemes can help with affordability while limiting ownership
The following are some of the questions lenders will consider when you apply:
- How many applicants are on the mortgage?
- What is the relationship between applicants (e.g. friends, siblings, parents)?
- Do all applicants live in the property, or is one just supporting affordability?
- Is anyone gifting a deposit and not living there?
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Once arranged, multi-applicant mortgages work much the same way as other residential mortgages. The key difference is that three or sometimes four people are legally responsible for the repayments and have rights to the property itself.
In most cases, all applicants will need to live in the property being purchased (owner-occupiers). However, it may also be possible to get a mortgage for two or more people where only one of the named borrowers will be living in the property: this is called a joint borrower sole proprietor agreement.
Mortgages with 3 or more applicants are usually (though not always) taken out on a tenants-in-common basis.
A joint mortgage grants all named parties equal rights over the ownership of the property, but holding as tenants-in-common means each person has their percentage stake in the property, agreed upon and formalised with a solicitor before the purchase.
Many lenders offering multiple-person mortgages will only accept the incomes of up to two applicants, usually the two highest earners, when establishing how much the group can afford to borrow.
In the illustration below, for example, although the group has a combined annual income of £100,000, a lender may only accept the annual earnings of two applicants, i.e. £70,000 per annum.
| Applicant named on deed | Annual income |
|---|---|
| Applicant A | £40,000 |
| Applicant B | £30,000 |
| Applicant C | £30,000 |
| Total income for affordability calculation | £70,000 |
The good news is that a few lenders do allow all parties to declare their incomes for affordability purposes, even where the applicants are not close relatives. This allows the group’s collective buying power to go further, which is often the main reason for resourcing together to buy a house or flat in the first place.
Some multi-person mortgage lenders will consider all applicants’ earnings by default, while others do so only in specific circumstances. This may be tied to the loan-to-value (LTV) ratio, for example, allowing up to 3 people to declare their income only if the LTV is less than 80%.
For a rough estimate of how much you could borrow with a multi-applicant mortgage, simply add the incomes of everyone in your group eligible to be included in the affordability assessment and enter them into our calculator below…
Mortgage Affordability Calculator
Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.
Your Results:
You could borrow up to
Most lenders would consider letting you borrow
This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.
Some lenders would consider letting you borrow
This is based on 5 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.
A minority of lenders would consider letting you borrow
This is based on 6 times your household income, a salary multiple you will struggle to get without a broker. Six-times salary mortgages are usually only available under very specific circumstances.
Get Started with an expert broker to find out exactly how much you could borrow.
Get StartedTo get approved for a three-person mortgage where all parties’ incomes are declared, we strongly recommend speaking to a broker specialising in multi-person mortgages. They will have existing relationships with the most suitable lenders for groups of friends or family members looking to buy property together, maximising your chances of success the first time.
How to get a mortgage with 3 or more people
Your first step should be to find a mortgage broker specialising in arranging mortgages involving three or more people. Enquire with us, and we will match you with an advisor who has these credentials.
Your handpicked mortgage broker will guide you through the following steps to complete the application:
- Getting the necessary paperwork ready. For multiple applicant mortgages, a lender will want to see proof of income, address and identity for all those applying – proof of income, such as payslips (or certified accounts if self-employed), bank statements, copies of utility bills and ID (passport or driving licence)
- Downloading and optimising your credit reports. A lender will review all applicants’ credit records, so you are advised to check each before you apply to correct any inaccuracies or remove outdated information in advance.
- Finding the right lender. Your broker will be able to identify the lenders who can help with an application of this nature.
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Can you apply for a mortgage with friends?
Yes – but this varies a lot between mortgage providers: the strictest will only offer multiple-person mortgages to applicants who are blood relatives. Others will allow up to 3 friends to be named on the deeds. Still, as mentioned above, they are less likely to allow all parties to declare their incomes in the affordability assessment where there’s no family relationship.
Related Articles
Get matched with a broker who specialises in multi-applicant mortgages
While three-person mortgages are not the norm, we can quickly put you in touch with brokers who specialise in the multi-person market, arrange these types of deals every day, and will know which lenders are currently making competitive offers to people in exactly the same situation as you.
If you’d like us to connect you with our experts, call us today on 0330 818 7026 or make an enquiry. We’ll then contact you to arrange a free, no-obligation chat between you and a suitable broker today.
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FAQs
Yes, adding a third person to your existing mortgage is possible in the right circumstances.
If your current lender allows you to add an extra name to the deeds, you will usually have to pay fees for changing the contract between you and the lender. They will also treat the third borrower like any new applicant, putting them through the usual application checks. You’ll usually need a solicitor to oversee the process and advise you.
If your lender does not allow the addition of a third borrower, your best bet is to remortgage and collectively apply for a 3-person mortgage. A whole-of-market broker can quickly guide you towards the most appropriate providers.
There are no specific age restrictions for these types of mortgages other than those which apply, as standard, by each lender.
If there are any age requirements among your applicants, speak with your mortgage broker first. They can find the lender best suited to this situation.
Pete Mugleston
CeMAP Mortgage Advisor, MD
Pete, a CeMAP-qualified mortgage advisor and an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete successfully went the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained and his love of helping people reach their goals led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.
Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for Online Mortgage Advisor of course!
Rhianna has been fantastic
We had a very special need. 3 way mortgage with all 3 salaries counting towards the affordability. We contacted several mortgage advisors but OMA were the only ones who came through for us.
Michael
Robin will succeed where all others fail
Robin was the best Mortgage Advisor ever. I had spoke to others who all said they couldn't help me as there wasn't a mortgage that fitted our needs. Robin found multiple mortgages available and quickly got us to being successfully offered a mortgage in principle where all others failed. Thank you.
Paul
Great
I was put through to Tim at create finance who has been superb from the start. I have two mortgages in principle and going through the paperwork for formal offers.
Terence
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