I want to enter the property ladder but cannot afford to do so alone so considering going in with a friend. We re prob gonna live in property for few years. Good or bad idea to purchase with friend.
absoultely a bad idea. no mater how close the friend, unless there are very strict agreed rules as to managing, paying, servicing and a final date for selling, then you are wasting time and effort and will lose a friend.
I disagree. Not necessarily a bad idea if it helps you buy a place (partially) of your own and you have a clear written legal agreement governing the joint purchase. See here for example:
Yes, I have to agree with ClubMan. If the two friends were renting together no-one would bat an eyelid. Sure there's extra paperwork and a little more risk when buying together, but if you both want to get on the property ladder then it's as good a way as any to do it.
Lots of planning and research needed but overall I wouldn't knock it.