A co-borrower is a person who applies for the mortgage together with the main borrower. During the mortgage process, the co-borrower will be required to submit all required documents as the main borrower. The bank will consider the income, liabilities, and credit history of both borrowers when deciding the maximum finance amount, and the mortgage will be booked under both names.

Both borrowers will be equally responsible for repaying the loan, and both names will be included on the property’s title deed. Most commonly, a co-borrower is added to increase the eligible loan amount, as two incomes are considered when applying for a mortgage.