Buying property with someone else — a partner, a sibling, or a friend — is increasingly common, and it changes both the ownership structure and the loan application itself.
Joint applications assess everyone's position
When applying together, a lender typically assesses the combined income, debts and credit history of all applicants — which can increase borrowing power, but also means everyone's financial situation affects the outcome, not just your own.
Ownership structure is a separate decision from the loan
Whether you hold the property as joint tenants or tenants in common is a legal ownership question, generally decided with your solicitor, and is separate from (though related to) how the loan itself is structured.
Everyone on the loan is usually liable for all of it
In most joint loan arrangements, each borrower is liable for the full loan amount, not just their 'share' — meaning if one person can't contribute, the others remain responsible for the whole repayment. Worth discussing openly before signing, not after.
Chris Brown
Managing Director & Finance Broker at New Vision Financial Services, a credit representative under Australian Credit Licence 384704 and a member of the FBAA and AFCA. More about Chris →
Frequently asked
Can I get a loan with a friend, not just a partner?
Yes, joint applications aren't limited to couples — friends, siblings or parents and children can apply together, though it's worth having a written agreement about contributions and an exit plan.
What happens if one person wants to sell later and the other doesn't?
This is a legal and financial question best addressed upfront with a solicitor, often through a co-ownership agreement, rather than left to be resolved if and when it comes up.
Does one person's poor credit history affect the whole application?
Generally yes — most lenders assess the application as a whole, so one applicant's credit history or existing debts can affect the outcome for everyone on the loan.