Co-buy high risk

Looking online for your perfect match is about more than just romance.

Hopeful home buyers are listing their details on website Co-Buy With Me in the hope of finding a partner to bump up their deposit or help cover mortgage payments.

The site was created in the UK and has now expanded to Australia, Canada and New Zealand.

Joanne McGregor hopes to find an investor for her second co-buy property.

McGregor, 48, said it was tough for single women to buy property, as they often earned less than men.

She's been in contact with a few potential investors but hasn't yet met anyone. "At the end of the day you don't know if someone is a psycho or out to rip you off."

Zarelsie Van der Merwe also hasn't moved past initial contact.

"You look at it from a business point of view, but also if their personality is suitable to you, and someone who would be easy to deal with," she said.

Van der Merwe said many of those listed were high-income earners who could service a mortgage, but didn't have a deposit.

Sue Tierney, mortgage broker and Auckland Property Investors Association president, said she "wouldn't even entertain" buying property with a stranger. Both parties were liable if one stopped paying the bills, she said.

And New Zealand Property Investors' Federation president Martin Evans cautioned against buying with a stranger. "If someone can service a mortgage but can't raise a deposit I suggest they hang off for a while, save a deposit, and go on their own," he said.

Co-Buy With Me did not respond to queries.