Joint or single home loan?

Buying a home is one of the biggest deals of your life. When you’re buying a shared home with your spouse or parent, for example, it’s worth considering whether you should take out a joint home loan or single ones.

A joint home loan is usually the more affordable option since you pay the arrangement fee and other fees for just one loan. When you have a joint loan, you are both responsible for paying off the loan and can decide between you how you make your monthly loan payments.

If only one applicant has savings in an ASP account and wants to get an ASP loan, you need to take out separate home loans. It’s also better to have separate home loans if one person wants to buy a smaller share of the home, for example.

To apply for a joint home loan, select that you would like to apply for a loan with a co-applicant at the top of the application form. We will process your application once both applicants have confirmed it with their online banking credentials.