Borrowing as tenants in common
Joint borrowing: important issues when co-borrowing money as “tenants in common” When a group of people borrow money together as tenants in common, lenders will usually just add up the incomes, commitments, assets and liabilities of each member in the group and assess the group together. All the purchasers’ names will go on the mortgage and title deed and the co-borrowers will be jointly and severally liable for each other’s debts. Useful Links: What if I want to sell out? Mortgage default: what happens if I am a co-borrower and one of us defaults?