Dreaming of owning your own home but struggling because you can't get approved or the loan amount isn’t enough? Don’t lose hope! Co-ฺBorrowing could be the solution that helps you move into your dream home sooner.
Let’s explore who you can co-borrow with!

Who Can You Co-Borrow With?
⬤ Family members with the same last name such as siblings, parents, or children
⬤ Biological siblings even if they have different last names (requires proof, such as a house registration or birth certificate stating the same parents)
⬤ Spouses, whether legally married or not
⬤ LGBTQ+ partners: Co-borrowing is allowed with proof of the relationship, such as a shared house registration, co-owned assets (like a car or property), or joint business documents

Benefits of Co-Borrowing
Co-borrowing doesn't just boost your chances of loan approval — it also helps ease your monthly burden. Plus, all co-borrowers can use the home loan interest for tax deductions!
⬤ Higher Approval Chances: Increase your loan limit and approval likelihood
⬤ Shared Responsibility: Split mortgage payments, typically 50/50
⬤ Tax Benefits: All co-borrowers can claim interest paid on the loan for tax deductions
⬤ Faster Homeownership: Save for a down payment and pay off the loan more easily

Documents Required for Co-Borrowing
General Documents:
⬤ Proof of identity: Copy of ID card and house registration
⬤ Proof of income: Payslips, employment certificate
⬤ Proof of collateral: Copy of land title deed (if applicable)
⬤ Other documents: Bank statements from the past 6 months
Additional Documents for Couples:
⬤ If married: Copy of marriage certificate
⬤ If not legally married: Provide proof of relationship, such as wedding photos, joint bank accounts, joint property ownership documents, or a shared house registration
For LGBTQ+ Partners:
⬤ If legally married: Same as heterosexual couples
⬤ If not legally married: Provide similar proof of relationship (e.g., photos, joint accounts, shared address registration), depending on the bank's requirements
Co-Borrowing is a great option that helps many people achieve homeownership. However, careful planning and preparation are key to ensuring the process goes smoothly and successfully.
If you’re interested in getting advice on individual or co-borrowing home loans for purchasing a townhouse or commercial building at Ocean Town Muang–Ratsada, Phuket, please contact us at https://m.me/183975518299717?ref=OTColoadweb
Note: Loan approval conditions are subject to the policies of each bank or financial institution.
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