How does buying a home together actually work?

Bayley Clarke · Mortgage broker on the road · Last checked 12 November 2026 · 7 min read

The short answer

Two people on one loan is one of the most common ways to buy, whether you're a couple, two mates or a brother and sister. The bank adds both incomes, takes off both sets of debts and living costs, and lends on what's left.

The loan is usually the easy bit. The thinking goes into whose name goes where, what happens if one of you wants out, and whether either of you has owned property before, because that one fact can switch the government help off for both of you.

Buying a house with your partner: two incomes, one assessment

The bank works out what each of you takes home after tax, puts it in one pot, then takes off your debts and living expenses. The split between you doesn't really matter. The total does: My partner and I earn very different amounts. How does the bank look at us as a household?

What matters more is how each income is earned. Casual, probation, self-employed or parental leave, and a lender may only count part of it. See the guides on changing jobs and parental leave.

Book one call for both of you

Half an hour with both of you on the line. I'll work out what your two incomes borrow across the lenders before anything goes near a bank.

Book a 30 minute call Call 0437 189 939

No application, no credit check, nothing on your file. Just the numbers.

One name or both: can I buy without my partner on the loan?

You can, but if you live together the bank still sees a couple. Most lenders put couple living expenses on your application with none of your partner's income, which pulls your borrowing down. A handful will assess you closer to single if your partner works and pays their own way: How much could I borrow on my own, without my partner on the loan?

You can also bring a partner onto your loan later. The bank treats it a lot like a fresh application, usually a refinance. Being on the loan and being on the title are separate, and a title transfer can carry stamp duty depending on your state, so check with your conveyancer: Can I add my partner to my home loan down the track?

Buying a house with a partner when you're not married

Life happens. If you split, you either sell and divide what's left after the loan and costs, or one of you buys the other out. A buyout is a full application on one income, so the person keeping the house has to carry the loan alone and the valuation has to support the equity you're splitting: I want to buy with my partner, but we're not married. What happens if we break up?

How you hold the title matters here as well. As joint tenants you own the whole property together, and if one of you dies it passes to the other. As tenants in common you each own a set share, which can be unequal, and it passes under your own will. Which suits you, and a written agreement on who put in what and what happens if you separate, are questions for a solicitor. Get it in writing while you still agree on everything.

Buying a house with a friend or sibling

Of course you can. I bought my first property with a mate and it worked out great. The bank treats friends and siblings as two households, so it runs two sets of living expenses, and every lender sets that figure differently. Lender choice matters more here than for a couple: Can two friends or siblings buy a home together?

The 5% Deposit Scheme is open to two people buying together, whether you're partners, friends or family members. Three or more borrowers don't qualify, and you both have to pass the tests, including not having owned property in Australia in the last 10 years. Pass them, and one 5% deposit between you gets you in without lenders mortgage insurance: Can my friend and I use the 5% scheme to buy together?

The catches show up later. Each of you owes the whole loan, not your half, and when one of you buys with a partner down the track, most lenders count the whole joint loan against you. Agree what happens if one of you wants out before anyone signs.

My partner owned a home before. Am I still a first home buyer?

If you're buying jointly, generally no. On a joint application the scheme's 10-year ownership test applies to both of you, and state concessions mostly look at everyone on the contract, though a few give a partial break. For some couples the way around it is buying in one name with a lender that assesses you as single. That's a real decision about who owns your home, and some states count a partner's past ownership for duty anyway: My partner owned a house before. Am I still eligible for first home buyer benefits?

The full set of rules on who still counts is in Am I still a first home buyer?

Visas, PR and refinancing later

If one of you is on a temporary visa, the list of lenders gets shorter and lenders mortgage insurance can be harder to get. The 5% Deposit Scheme needs both joint applicants to be citizens or permanent residents when the loan is signed, so a couple where one partner is on a temporary visa can't use it together. The plan is a lender that says yes now, then a review once PR comes through and the whole market opens back up: Once my partner gets permanent residency, can we refinance to a cheaper lender?

Joint savings and ID that matches

Saving in a joint account is fine if you're both on the loan. The whole balance counts as genuine savings. If only one of you is buying, we'll need to show which part of that money is yours, and two names on the account tells the bank you're in a relationship, which brings the living expense question straight back: If I'm saving in a joint account with my partner, does it count as genuine savings if I'm buying by myself? More on what counts in What counts as genuine savings for a home loan?

Passport in your maiden name, everything else married? The official registry marriage certificate links the two: My passport has my maiden name, but my licence and contract have my married name. Will that hold up?

The honest part

The bank will ask about your incomes and your debts. It won't ask what happens if one of you meets someone, moves for work or wants to sell in three years. That part is on the two of you, and the best time to write it down is before the contract, while everyone still agrees.

Buying together? Book one call for both of you

Couple, mates or siblings. Tell me what you both earn, owe and have saved, and I'll show you the number together, whether the scheme fits, and which lenders treat two of you best.

Book a 30 minute call Call 0437 189 939

No application, no credit check, nothing on your file. Just the numbers.

Common questions about buying a home together

Can two friends buy a house together?+

Yes. The bank treats you as two separate households on one loan, so it counts two sets of living expenses. Friends can also use the 5% Deposit Scheme together if both of you pass the eligibility tests. Agree in writing what happens if one of you wants out.

Can siblings get a mortgage together?+

Yes, the same way friends can. Two siblings can be joint borrowers, and the 5% Deposit Scheme allows two joint applicants who are partners, friends or family members, as long as both meet the rules.

Can I buy a house without my partner on the loan?+

Yes, but if you live together most lenders still use couple living expenses, which lowers what you can borrow on your own. A few lenders will apportion those costs if your partner works and is financially self-sufficient.

Can I add my partner to my mortgage later?+

Yes. It's treated a lot like a new application, often a refinance, so your partner is credit checked and assessed. Going on the loan and going on the title are separate, and a title transfer may carry stamp duty depending on your state.

What happens to the house if we break up and we're not married?+

Usually you either sell and split what's left after the loan and costs, or one of you refinances into their own name and buys the other out. A buyout only works if one income can carry the loan. How assets are divided is a question for a solicitor.

Next question

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