Are you planning to buy a property with someone in 2026? Whether you are a couple taking the next step, parents helping a child onto the property ladder, friends combining resources, or business partners investing together, buying property jointly is a significant financial commitment. You also need to think about how you will manage shared responsibilities, protect each person’s investment and deal with any changes in circumstances that may arise in the future.
Have you agreed on how much each of you will contribute to the purchase price; who will cover the bills; and how repairs will be paid for? It is essential to think about how you will manage shared responsibilities, protect each person’s investment and deal with any changes in circumstances that may arise in the future.
A Co‑Purchase Agreement can help you do exactly that.
What is a Co-Purchase Agreement?
A Co-Purchase agreement is a legally binding contract between you and the other property purchasers which provides clarity on expectations, responsibilities, and protections, both now and in the future.
Co-Purchase Agreements can cover key issues such as:
- ownership shares on the title deeds
- financial contributions to be made by each party
- who will pay the mortgage and other household bills
- what is to happen in the event of a separation, disagreement or the death of an owner
Why Co-Purchase agreements matter
Co purchase agreements are particularly relevant in circumstances where different amounts are paid towards the purchase and in guiding how that might be dealt with when the property eventually sells on. You can move forward with your purchase confident in the knowledge that you have taken sensible steps to reduce uncertainty in the future.
A Co‑Purchase Agreement is worthwhile for any group buying property together, as it helps set out clear expectations from the outset. Whether the arrangement involves family members, friends, partners or investment collaborators, having an agreed framework around contributions, ownership and decision‑making can prevent misunderstandings and provide reassurance throughout the period of ownership.
How to get started
If you are buying a property with someone else, you should speak to a Solicitor about putting a Co-Purchase Agreement in place tailored to your specific requirements.
Buying a property jointly involves legal and financial responsibilities that should not be left to chance. A Co-Purchase Agreement is a simple, cost-effective way to protect your investment and avoid future disputes.
If you are planning a joint purchase in 2026, now is the perfect time to put the right safeguards in place – get in touch with Gillespie Macandrew today to discuss your position further.
