Table of Content
With house prices at record highs, more buyers are choosing to combine their resources to get on the property ladder. This could be siblings buying together, friends pooling income, or even families arranging an intergenerational purchase.
Joint mortgages can be a powerful way to boost affordability — but how do they actually work when more than two people are involved?
This guide covers:
- How much you can borrow with 3 or 4 applicants
- Deposit requirements
- Which lenders allow multiple incomes
- Key challenges and considerations
At Strive, we specialise in arranging mortgages where 3 or more incomes are used. Knowing which lenders accept these applications — and understanding their criteria — can make all the difference in maximising affordability and getting your mortgage approved.
Do all 3 incomes count towards affordability?
Most lenders in the UK are set up to handle two applicants, but some will consider mortgages with three people. The key difference is how income is treated:
- Many lenders will only use the two highest incomes when calculating affordability, even if three people are named on the mortgage.
- A smaller pool of specialist lenders may consider all three incomes, which can significantly boost borrowing power.
Example:
- Applicant A earns £40,000
- Applicant B earns £30,000
- Applicant C earns £30,000
With most lenders, only £70,000 (Applicant A + B) would be used for affordability. With a specialist lender, the full £100,000 could be included.
👉 The difference can make or break your chances of buying the home you want.
How Many Applicants’ Incomes Will Lenders Accept?
When applying for a mortgage, not every lender will consider the same number of applicants’ incomes. Some are open to combining up to four incomes, while others cap it at two. Knowing which lenders allow more applicants can make a big difference, especially for joint buyers or family purchases.
| Maximum Incomes Considered | Lenders |
|---|---|
| Up to 4 Applicants | Gen H, Leeds Building Society, Vida Homeloans, Metro Bank, Foundation Home Loans, Penrith Building Society, AIB for Intermediaries, Vernon Building Society, Principality Building Society, Cambridge Building Society, Norton Home Loans, Kent Reliance, Market Harborough Building Society, Buckinghamshire Building Society, Together, Family Building Society, Furness Building Society, Earl Shilton Building Society, Cumberland Building Society, Tipton Building Society, Progressive Building Society, Hinckley and Rugby Building Society, Bluestone Mortgages, Stafford Building Society, Chorley Building Society, Swansea Building Society, Dudley Building Society, Beverley Building Society, Harpenden Building Society, Darlington Intermediaries, Teachers Building Society, Skipton Building Society ✅ |
| Up to 3 Applicants | Scottish Building Society, Bespoke BOI |
| Up to 2 Applicants | Bath Building Society, HSBC, Coventry Building Society, Leek Building Society, Nationwide Building Society, Precise Mortgages, Newcastle for Intermediaries, United Trust Bank, Marsden Building Society, Clydesdale Bank, April Mortgages, West Brom Building Society, West One Loans, Kensington Mortgages, Tandem Bank, Bank of Ireland, The Mortgage Lender, Aldermore, Accord Mortgages, Santander, Central Trust Limited, Hodge, The Co-operative for Intermediaries, Monmouthshire Building Society, Mansfield Building Society, The Loughborough Building Society, LendInvest, NatWest, Atom Bank, Hanley Economic Building Society, Mpowered Mortgages, Pepper Money, Nottingham Building Society, TSB, Halifax, Melton Building Society, Newbury Building Society, Virgin, Livemore Capital, Perenna, Barclays, Suffolk Building Society, Gatehouse Bank, Saffron for Intermediaries |
Mortgages With 4 Applicants
It’s also possible to take out a mortgage with four applicants. Again, policy varies:
- Some lenders cap affordability at two incomes, even with four names on the mortgage.
- A select group of lenders will consider all four incomes, though criteria may be tighter.
- Everyone on the mortgage is jointly liable, meaning if one person can’t pay, the others must cover it.
Mortgages with four people can work well for families buying together or for friends combining forces to buy in expensive areas like London. However, with more applicants, there are more moving parts — from credit checks to age limits — so advice is vital.
How Much Can You Borrow?
Borrowing usually sits around 4.5 to 5 times income, though this depends on:
- Ages of all applicants (the eldest borrower often determines the mortgage term).
- Existing debts such as loans, car finance or credit cards.
- Future commitments like childcare, school fees, or maternity/paternity leave.
Affordability is always “stress tested” to make sure repayments are manageable if interest rates rise.
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Deposit Requirements
The deposit needed for a joint mortgage is generally the same as for two applicants:
- Minimum 5% deposit, provided you meet other lender criteria.
- A 10%+ deposit usually gives access to more lenders and better rates.
- The deposit can be split between all applicants or come from just one.
What About Interest Rates?
Rates for mortgages with three or four people are usually in line with standard mortgages. The main difference is that fewer lenders offer these products. With less competition, choice can be limited and rates may be slightly higher — but a good broker can still help you secure a competitive deal.
Age Considerations
Age can be a major factor, especially if you’re buying with parents or older relatives:
- Lenders typically cap the mortgage term based on the eldest borrower’s age, often 70–75 at the end of the term.
- This can shorten the mortgage term and increase monthly repayments.
- Specialist lenders may offer flexibility, but age is still one of the biggest hurdles in multi-applicant mortgages.
What If One Applicant Has Bad Credit?
Bad credit doesn’t necessarily stop you getting a mortgage if three or four people are applying. In fact, the stronger financial profiles of the other applicants can sometimes balance things out.
That said, lenders will still want to see that the person with poor credit has a stable income and has dealt with past issues. The severity and recency of the credit problem will also matter. In short: bad credit is a hurdle, but not always a deal-breaker when multiple incomes are involved.
What If Applicants Already Have Other Mortgages?
If one or more applicants already has another mortgage (for example, on a buy-to-let or an existing home), lenders will take that into account.
- Other mortgage payments will be factored into affordability calculations.
- The applicant’s income will still count, but their debts reduce overall borrowing power.
- Some lenders are more flexible than others when it comes to people with multiple mortgages.
Is It Possible to Buy With Friends?
Yes. Many lenders allow friends to buy together, provided everyone is named on the mortgage and meets eligibility criteria. Some lenders may prefer applicants to be related, but plenty will consider unrelated buyers too.
Clear agreements are essential, especially if one friend wants to sell their share later on. A legal Declaration of Trust can help protect everyone’s interests.
However, some lenders may be more flexible and consider the income of all applicants, which could increase the amount that could be borrowed.
Outstanding service and clear communication are at the core of what we do. But don’t just take our word for it—read firsthand experiences from our clients and discover why they rate us a 5-star mortgage broker.
Tax Implications & Stamp Duty
Stamp Duty Land Tax (SDLT) can complicate things with multiple applicants:
- If any one buyer already owns property, the 5% additional SDLT surcharge applies to the whole purchase.
- For first-time buyers, this means you lose access to SDLT relief if one applicant is already a homeowner.
This is why ownership structures need careful planning before committing.
Legal Ownership Types
When three or four people buy together, the way the property is legally owned is crucial:
- Joint Tenants – everyone owns the property equally. If one person dies, their share automatically passes to the others.
- Tenants in Common – each person owns a specific share (e.g. 40/30/30). Shares can be unequal and can be left to someone else in a will.
👉 With three or four applicants, Tenants in Common is usually the better option, as it allows flexibility and protects individual investments.
Exit Strategy: What Happens if Someone Wants to Sell?
One of the biggest challenges in multi-applicant mortgages is what happens if someone wants out. Options include:
- The remaining owners buy out their share.
- Remortgaging into fewer names.
- Selling the entire property.
Without a Declaration of Trust and clear agreements, disputes can get messy. Planning this upfront is essential.
Buy-to-Let Mortgages With 3 or 4 People
Yes, you can also get a buy-to-let mortgage with multiple applicants. Lenders will:
- Assess rental income as well as applicants’ personal finances.
- Usually require a 25%+ deposit.
- Run affordability tests on all applicants.
This can work well for groups of investors, but criteria are often stricter than for residential purchases.
Alternatives to a Multi-Applicant Mortgage
If buying with three or four people isn’t the right fit, there are other options:
- Guarantor mortgages – where a family member guarantees repayments.
- Joint Borrower Sole Proprietor (JBSP) – parents help with income but aren’t on the deeds, avoiding the 3% SDLT surcharge. JBSP Mortgages
- Family Springboard mortgages – use savings from relatives instead of multiple incomes.
These can sometimes be a smarter, cleaner route than adding several names to one mortgage.
Speak to an advisor today, to lock you in with the best deal.
How to Get a Multi-Applicant Mortgage
Applying with three or four people can be more complex, but the process broadly follows these steps:
- Speak to a broker – many of the lenders who allow 3–4 applicants aren’t on the high street.
- Check credit reports – every applicant’s file matters, so fix any issues early.
- Gather documents – payslips, ID, bank statements for each applicant.
- Obtain an Agreement in Principle (AIP) – shows how much you could borrow together.
- Find a property – factoring in everyone’s needs.
- Apply for the mortgage – be ready for a detailed assessment and potential extra checks.
Protecting Yourself on a Joint Mortgage
When multiple people buy together, protecting everyone’s interests is key. Consider:
- A Declaration of Trust to outline ownership shares and exit plans.
- Life insurance to cover repayments if one borrower dies.
- A clear written agreement on who pays what, and what happens if someone can’t.
- Legal advice before committing, especially if buying with friends.
How Strive Mortgages Can Help
At Strive Mortgages, we’ve helped thousands of buyers secure joint mortgages, including those with three or four applicants. We know which lenders are open to considering all incomes and which will only use two, saving you time and stress.
We’ll:
- Match you with the right lender for your circumstances.
- Present your case clearly, even if one applicant has bad credit or another mortgage.
- Negotiate the best possible deal.
- Support you from application to completion.
👉 Speak to us today to explore your options for joint mortgages with 3 or 4 applicants.
And if you’d like to see a real-life success story, check out our recent case study: Family Mortgage in London – 3 Incomes Secured £600,000
FAQs: Mortgages With 3 or More People
Can 3 people get a mortgage together?
Yes. Some lenders will allow three people on a joint mortgage. However, many only use the top two incomes when assessing affordability. A smaller pool of specialist lenders may include all three incomes, which can increase how much you can borrow.
Can all 3 incomes be used for a mortgage?
Not always. Most lenders only count two salaries (usually the highest earners). But certain lenders will consider all 3 incomes, making borrowing power stronger. This is where working with a mortgage broker can make a big difference.
How much can 3 borrowers get on a mortgage?
Typically, lenders offer 4.5–5 times income. If all 3 incomes are used, borrowing could be significantly higher. For example, 3 applicants earning £30,000 each could potentially borrow up to £450,000. If only two incomes are used, that figure would drop.
Is it harder to get a mortgage with 3 applicants?
The process can be more complex, with fewer lenders offering mortgages to 3 borrowers. Affordability checks may also be stricter. But with the right advice, it’s absolutely possible.
Can 4 people get a mortgage together?
Yes, but options are even more limited than with 3 applicants. Some lenders still only use 2 incomes, but a few may consider all 4. Everyone named on the mortgage is equally responsible for repayments.
Can I get a mortgage with friends?
Yes, friends can apply for a joint mortgage. All applicants must meet the lender’s eligibility criteria, and a legal agreement such as a Declaration of Trust is strongly recommended to protect everyone’s share.
Jamie Elvin
Jamie is an expert in all things mortgages, and our most experienced broker. Connect with Jamie and get started to see how Strive Mortgages can help you.
