A co-applicant is a person whose name will be on the property’s title deed together with the main borrower. During the mortgage process, the co-applicant will be required to submit basic KYC documents such as passport, visa and Emirates ID. The bank will not consider the co-applicant’s income or liabilities when deciding the maximum finance amount, and the mortgage will not be booked under the co-applicant. 

However, the co-applicant will be required to sign bank documents such as application forms and the Final Offer Letter. And most commonly, the co-applicant is added for legal or family reasons, such as making sure both spouses’ names are on the property ownership.