It’s natural for couples in love to dream of building a life together and starting a family. For those planning to apply for a joint home loan, there are several important details you and your partner should understand. Knowing the rules and requirements of the loan approval process will help you maximize the benefits of co-borrowing and avoid issues in the future.
Who qualifies for a joint home loan? – Love may be strong and meaningful, but love alone isn’t enough when it comes to applying for a home loan. Many couples are surprised to learn that relationships not legally recognized—such as unmarried couples or same-sex couples whose marriage isn’t legally binding—cannot apply for a joint mortgage. Most banks only allow co-borrowers who are legally recognized family members, such as relatives sharing the same surname. Exceptions can be made with proper proof, like a household registration showing shared parents or alternative documents such as wedding photos or evidence of children together.
Options for unmarried or same-sex couples – Even though financial institutions currently don’t permit joint loans for unmarried or same-sex couples, you and your partner can still form a legal entity together—such as a partnership or limited company. In this case, the loan would be under the entity’s name, with both partners sharing liability as business co-owners. However, this route requires real business operations, not just a setup for property purchase, which may not be practical for most couples.
Property ownership rights -In most joint loan scenarios, there are two common approaches:
- One person holds the ownership title, while multiple borrowers co-sign the loan.
- All co-borrowers’ names are listed as co-owners on the property title.
If you choose joint ownership, you must consider that selling the house requires consent from all co-owners. Even transferring ownership between co-owners is treated by the Land Department as a property sale, meaning you’ll face transfer fees, income tax, and stamp duties.
Number of co-borrowers allowed - Some banks limit the number of co-borrowers, often to no more than two people. Loan approval depends on the combined income of all applicants after deducting expenses, which determines the maximum loan amount and monthly repayment capacity.
Tax deduction benefits – Generally, borrowers can claim annual mortgage interest payments as a tax deduction, up to 100,000 THB per year. For joint loans, this benefit must be divided equally among all borrowers.
Relationship changes over time – While couples rarely think about breakups when they’re in love, life is unpredictable. Planning ahead helps minimize risks. If you apply for a joint mortgage, consider carefully whether the property should be under both names or just one. Joint ownership is usually the safest legal option. However, if only one person is making repayments, it may be fairer for that person to hold the ownership rights.
If the relationship ends before the loan is fully paid, all listed owners remain responsible for repayments—unless new agreements with the bank are made.
Changing the borrower’s or owner’s name – If a married couple takes out a joint loan, both names are usually included on the property deed. Removing one name later can be complex, requiring both a new loan agreement with the bank and an ownership change at the Land Department. The new loan will reflect the remaining debt balance at the time of contract revision.
Building a future together - After reviewing all these considerations, what remains is evaluating your long-term financial stability and relationship. Ultimately, the goal is to legally become one family, ready to build a happy life together in a home you both share.
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