Can family buy a house in equal shares?

[johnd]

My friends have a grown up family of 2 but neither of them can afford to buy a house of their own so are renting. The family home is quite small and my friends would like to sell it and together with their adult children buy a larger house which they will own jointly and eventually the adult children would inherit their share. There is no mortgage on the property.
It sounds an ideal solution but is it possible for the adult childfren to get a mortgage in this kind of situation and what are the pitfalls?

Many thanks

 

[ClubMan]

Multiple people including multiple members of the same family can buy a property in this way. I would imagine that 2-3 joint buyers is not that uncommon. Not sure about more than that if that's what you mean. They would need to put in place a joint buying agreement to cover various issues including how to deal with matters should one of them want out at some stage. There is a sample draft agreement in the key posts ("buying with a friend").