Co-buying: a savvy property strategy

As average UK house prices continue to rise, many individuals are opting to co-buy properties to overcome affordability challenges. A survey revealed that 40% of adults aged 18 to 45 believe they may never own a home alone. Co-buying offers benefits such as pooling savings for a larger deposit and sharing costs. However, understanding the legal implications is crucial. Lisa Parker from L&C Mortgages emphasises the importance of discussing future plans, noting: “The main potential challenges are if one person wants to sell up or move out before the other". Buyers can choose between joint tenants or tenants in common arrangements, each with distinct ownership rights. Mark Harris from SPF Private Clients notes that joint tenants is common among married couples, while tenants in common is preferred by friends or siblings. 

The Observer (16/03/2025)