I am buying a properties with my friends which has no relationship. Due to the friend of mine already own 3 properties and he is not able to get 90% Loan. So the bank advise us to apply loan and s&p under my name ( this is my first properties) to get 90% Loan. And bank also advise to form a sub-contract between me and my friend stated that both of us own the house. Is this a common way to do it? Any lawyer able to help answer. Thank you

Thank you all for the help