I already have a Mate, so what about me?

Mortgage Mates specialises in enabling all Australians to be able to own their own home. We believe co-ownership is a key solution to housing affordability and have developed our algorithm to ensure users can match with new Mates, or, confirm their existing Mates match their home ownership needs.

If you have already found a partner, friend or family member to own a home with, Mortgage Mates can ensure that before you start the process of co-ownership, you are clear about how you want to buy, who you want to buy from and how long you want to buy together for.

Whilst many of us don’t view buying with a partner as co-ownership, it is actually the most traditional form of co-ownership available. By buying with a significant other, you are sharing the ownership, liability and profitability of a property, and potentially your home.

You may be asking, why you would need to use Mortgage Mates when buying with some one that you know, but our research shows, that the hard conversations that are needed when owning a house with some one don’t take place when we know the other person.

We don’t ask to verify our partners income and financial stability or request a police check from a family member before we sign the mortgage agreements. We assume, because of the trust we place in them, that they will share any information we may need to know before buying.

We also know that when deciding what style of property to buy, or what location to buy in, we are more likely to compromise when buying with some one we know, as we do not want to upset them, or damage the relationship we have.

This is where Mortgage Mates comes in. By signing up to our website with your partner, family member or friend, you can both enter your housing preferences into the website to see if what you say you want, and what you actually want, match with your co-owner. For example, you may both agree you want to live in Victoria, but one of you may want to live in Northcote and one may wish to live in Essendon. By knowing this information now- you can work together to look at which location works best for both of you, and where you both wish to buy a house moving forward.

Mortgage Mates uses F and Q’s, info sheets and blog posts, to support our co-owners in their co-ownership journey. Our website has a ‘What’s Next Page’ which links users into suitable mortgage providers, real estate websites and legal advisors who can ensure the relevant steps are taken and legal protections are provided.

It can seem tempting, when buying with some one you know and care about, not to worry about the legal side of buying a home. After all, we don’t go into the relationship assuming it may not work. But whilst putting a co-ownership agreement in place won’t damage the relationship when buying together, failing to have the agreement may enable the relationship to sour further than imagined, should a separation occur.

By following the steps on our website, you can seperate the emotion, from the process, and feel confident that both you and your co-owner are clear on what needs to be completed before you buy a home together. In this instance we aren’t turning Strangers, into Mates, but ensuring, Mates stay Mates.