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Friend Co-Purchase

Buying a Home With a Friend in Australia: Co-Ownership Made Workable

Mortgagefy Broker Team · Published · Last reviewed

Two friends combining to buy property is increasingly common as Sydney prices climb. Done right with proper agreement, it works. Mortgagefy helps structure it.

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Who this guide is for

Australians wanting to buy property with a friend (not partner) — pooling deposits and incomes for affordability or investment.

The local picture

Friend co-purchases are unusual for major banks. Joint and several liability on the loan creates risk if one friend's circumstances change. Without proper deed, exits get messy.

How Mortgagefy helps locally

Mortgagefy works with friend co-purchases. We identify lenders comfortable with non-couple joint applications and refer to family lawyers for proper co-ownership deed.

Free advice.

How it works — 4 simple steps

1

Free chat with both friends

20-minute call with both parties about the structure.

2

Compare lender options

We identify lenders comfortable with friend co-purchases.

3

Application + co-ownership deed

We coordinate the loan and refer to family lawyers for the deed.

4

Move in together

Both friends move in with structure in place.

Frequently asked questions

We use offer letters and vesting schedules to value RSUs conservatively. We present current vesting value + projected future vesting as a 3-5 year income average. This gives lenders confidence in your income stability while accounting for market volatility.
Both. We work with W2 employees, 1099 contractors, and consultants. For contractors, we use 2 years of tax returns plus business financials. We have lenders who specialise in contractor income—they understand the variability.
Unvested options have zero value for refinancing. We count only vested equity. If you have a 4-year vest, we use 25% of the grant value (what's vested) plus a conservative projection of future vesting.
If you've been in your new role 6+ months, most lenders will refinance. We'll use your offer letter plus 6 months of pay stubs. If less than 6 months, it's harder but possible with specialist lenders.
Yes, if you have 2+ years of bonus history. We average the past 2 years and present it conservatively. Some bonuses get counted at 50% to be conservative with variable compensation.
ESPP is counted as deferred compensation. If your company matches or you have a discount, we value it as part of total compensation package.

Talk to us about friend co-purchase

Free 20-minute call with both friends.

Start Your Free Assessment Call 0432 634 648

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