Finding and vetting the right co-buyer

The best co-buyer is not automatically your closest friend. It is the person whose financial habits, time horizon and tolerance for risk look like yours. Someone who plans to stay put for eight years and someone hoping to flip in two will collide eventually.

Start with the boring questions: how long do you expect to own this, what would make you want to sell, and what would you do if the boiler died next month.

Before any offer, everyone shares the same set of facts: income and stability of it, savings available for deposit and fees, all debts and monthly commitments, and a credit report from one of the main agencies.

This feels intrusive right up until you remember that joint and several liability means each person's credit behaviour will affect everyone for decades. Reciprocal disclosure is the fair version.

Partners staying over and eventually moving in. Pets. Working from home and shared space. Noise, guests and cleanliness standards. Whether a room can be let out for income.

None of these are deal-breakers on their own. All of them become deal-breakers if they are discovered rather than agreed.

Reluctance to share financial information, pressure to move faster than you are comfortable with, an unwillingness to sign a Deed of Trust, undisclosed debt discovered later, or a history of not honouring shared commitments.

Do a trial period where you can: a shared savings account with monthly contributions for six months tells you more about someone than any conversation.