However, the current skyward housing market in Ireland has seen all sorts of outlandish alternatives. In parts of Dublin, for instance, where houses were built big and gardens even bigger, parents are carving up their plot to build for their thirtysomething-year-old kids who simply can't go it alone. Meanwhile, young people are casually talking about the advent of 50 and 60-year mortgages that may be passed on to their children.

On www. co-buywithme. co. uk (soon to have a . ie Irish arm) there are already plucky Irish people registered and actively searching for mortgage mates. Budding co-buyers simply register on the site and search the database for a co-buyer who matches their requirements. Once a potential co-buyer has been found, contact can be made via the websites anonymous email facility.

Catherine, a residential social worker is in her mid-30s and earns 44,000 a year. She can't afford to buy on her own and is registered on the site as wanting to "buy with someone interested in investment, short-term or long-term. I'm especially interested in areas in Belfast, where cheaper 'excouncil' housing can be found."

Prospective mortgage buddies should be female and around the same age. Catherine's available deposit is between 9,000 and 14,000.

In additional information, she adds that she's living with a partner, has a pet and smokes.

Another registered Irish user gets straight to the point:

"I am working as a professional and have had recent promotions, so now I feel in a position to buy a property, but as you know the prices are rising at an alarming rate. So I have no option but to buy with another person. I would prefer to live in a good area, sacrificing location for extra room. I am in my late 20s so still like to socialise but am certainly no party animal these days." She earns around 37,000 and has a deposit of 7,000 to play with.

Danny and his wife are investors and are looking to buy a property to renovate and sell on anywhere in Ireland. "We have a certain amount in cash and would be looking for other cash buyers or someone who could get a mortgage to match our investment and share the work and profit."

"Of course, you have to kiss a few frogs to work out what you really want, " says 29-yearold Comebuywithme cofounder Theo Michaels, who thought up the idea when he could not afford to buy alone.

He ended up buying a threebed with two other people in Crouch End, London, two years ago. It has since gone up in value by about 119,000 and two of the buyers have agreed to buy out the third, who is moving on.

"It does take time, but it's not like a dating site even if that analogy has been used, " he says. "The fact that people are serious about buying means that it has a high success rate from the off as the expectations and goals are the same."

According to Michaels, the first step is to answer some basic questions: are you cobuying as an investment or to live there? How much deposit have you got? What is the age group (and gender) or person you want to buy with? How long do you see yourself staying in the place?

Of course, a venture such as co-buying is legally binding and the same as any other mortgage procedure. Each person named on the mortgage is jointly responsible for repayments . . . if one or more doesn't pay, the mortgage lender will expect the other person to make up the difference.

"Once you have established what you want, you can spend time finding people that match, " explains Michaels.

"The site functions as a messaging mediator until people feel comfortable enough to swap emails, then get on the phone, and eventually meet up.

"When the co-buying venture is ready to proceed, there are other legal issues to consider. A Declaration of Trust is a joint agreement that can cover issues such as minimum length of stay before any party is willing to sell. If someone has to move on, will they take on the onus of renting their room, and so on? Generally speaking, people only want to do this for a few years to get a head-start.

Some co-buyers also opt for a 'Co-habitation Agreement' which is a bit like a lease, covering all the nitty-gritty daily living issues (cleaning communal areas, having friends over, etc). We also recommend that all parties take out income protection and a will."

Lending institutions across the UK are now taking cobuying seriously. The Britannia Building Society provides loans to a number of people who are pooling together to purchase a property. It works on a salary multiple of three times each of up to four incomes and works out individual mortgage repayments in a co-buy based on the deposits paid. HSBC also tailors a package for co-buyers.

Irish banks are bound to follow suit once the concept takes off here.

"The process may sound daunting at first, but it's actually very logical, " says Michaels. "By the time you've physically bought the house you'll know each other quite well. However, it isn't necessarily for everyone; it demands honesty, flexibility and real partnership."