Podcast: Could co-buying be the future of homeownership?

On this episode of the ESPC Property Show, Paul & Megan are joined by Will Mushett and Martin Pallant, the founders of CoHaus, an innovative new initiative designed to help tackle the growing affordability challenges facing first-time buyers. Drawing on decades of experience in financial services and large-scale change management, they explain how co-buying could become a mainstream route to homeownership in Scotland and beyond.

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Key Insights

The growing challenge of homeownership

For many first-time buyers, getting onto the property ladder feels increasingly out of reach. Rising property prices, large deposit requirements, and strict affordability checks mean that buying alone is no longer realistic for many people. While some buyers can rely on support from family, not everyone has access to the so-called “Bank of Mum and Dad.” As a result, alternative ways of purchasing property are becoming more important than ever.

What is CoHaus?

CoHaus is a platform designed to make “co-buying” easier and more secure. The concept allows multiple people to pool their deposits and incomes in order to purchase a property together. While informal co-buying arrangements already exist between friends or family members, CoHaus aims to provide a structured and legally supported framework that removes much of the uncertainty and risk involved.

Why co-buying is gaining popularity

Research suggests there is strong interest in collaborative homeownership. Surveys referenced in the episode showed that over half of people would consider co-buying, with many others open to the idea if they had more information and reassurance about how it works. As affordability pressures continue, co-buying is increasingly being viewed as a practical and realistic solution for younger buyers.

How the CoHaus process works

CoHaus is currently running a pilot programme in Edinburgh, helping both individuals and pre-formed groups explore co-buying opportunities. The process begins with interested participants registering through the CoHaus website. From there, CoHaus carries out financial and identity checks, including Know Your Customer (KYC) and Anti-Money Laundering (AML) verification, to ensure all participants are financially suitable and properly vetted.

Mortgage considerations for co-buyers

Once participants are matched or grouped together, they are introduced to a mortgage advisor to secure an agreement in principle. In many cases, lenders will combine all deposits while basing affordability calculations on the two highest salaries in the group. This flexibility allows buyers with different financial circumstances to work together, with groups of up to four co-buyers potentially purchasing a property jointly.

The importance of legal protection

A key part of the CoHaus model is the legal framework designed to protect all parties involved. Solicitors draft a formal “minute of agreement,” outlining ownership shares, responsibilities, and exit arrangements. This ensures that if circumstances change, there is a clear process for selling shares, buying someone out, or resolving disagreements. The episode highlights how crucial proper legal advice is when entering any shared ownership arrangement.

Matching people beyond finances

Looking ahead, CoHaus plans to develop an automated matching platform that considers not only financial compatibility but also lifestyle preferences. Factors such as working from home habits, cleanliness, and social lifestyles could all play a role in creating successful long-term living arrangements. The aim is to make co-buying feel more secure and sustainable for everyone involved.

Why Edinburgh was chosen for the pilot

Edinburgh was selected as the launch location due to its strong property market and affordability dynamics. In some cases, monthly mortgage payments can be lower than rental costs, making ownership more attractive if buyers can overcome the initial affordability barriers. The city’s stable property values and consistent demand also make it a suitable environment for shared equity growth.

Risks of informal co-buying

The episode also explores the potential risks of entering a co-buying arrangement without proper structure or support. Miscommunication, unclear financial expectations, and difficulties around maintenance or exiting the arrangement can quickly become problematic. CoHaus aims to reduce these risks through formal agreements, financial transparency, and professional guidance throughout the process.

The future of collaborative homeownership

CoHaus hopes to expand beyond Edinburgh and eventually operate across Scotland and the wider UK. Their long-term ambition is to make co-buying a recognised and mainstream pathway into homeownership, rather than a niche alternative. As affordability challenges continue, collaborative ownership models may become an increasingly important part of the housing market.