How to buy a property when you can’t afford it

This blog shows you how to buy a property even if you can’t get a mortgage, or if you don’t have a deposit.

We have all been in the situation of wanting to buy a dream property, and not having the deposit, or not being able to get a mortgage.

  • If you don’t have enough money for a deposit, and you are working, you should be able to obtain a mortgage, and find someone who does have a deposit, to buy the property with.
  • If you can’t get a mortgage, and you have the cash for a deposit, the answer is to find someone who does have the ability to obtain a mortgage, and buy the property with them.

You will need a special contract between you and your fellow property purchaser, in order to protect you both.  Only one party’s name(s) can be on the title deeds, and that is the mortgage owner, so the person who supplies the deposit, particularly needs this special contract for their protection.

This blog describes such a contract.  The contract is called a “Declaration of Trust“.

The main concepts of a legal contract are described between the two parties who are buying a property together.  In this specific example, one party is providing the cash for the deposit (this party is called the “Beneficiary”), and one party is providing the mortgage (this party is called the “Owner”).

The property ownership can be split any way that suits you.

We paid solicitors £780 for this contract in 2016, and have used it for a joint property purchase ourselves.

If you would like the free .pdf of the template contract please email me “YES” to

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