The Authorization Letter For Co-Borrower is a critical document in Australian lending practices, typically used when multiple parties need to share responsibility for a loan or mortgage. This document becomes necessary when individuals wish to combine their borrowing capacity, such as couples applying for a home loan or business partners seeking joint financing. The letter formally establishes the co-borrower's rights and responsibilities, ensuring clear understanding and legal protection for all parties involved. It must comply with Australian banking regulations, particularly the National Consumer Credit Protection Act 2009, and includes vital information such as the identities of both borrowers, specific authorizations granted, loan details, and duration of the arrangement. This document is especially important in situations where one borrower may need to act on behalf of another or where joint financial responsibility needs to be formally documented.

1. Date and Place: Current date and location where the letter is being executed

2. Recipient Details: Name and address of the financial institution or relevant authority to whom the letter is addressed

3. Subject Line: Clear indication that this is an Authorization Letter for Co-Borrower

4. Primary Borrower Information: Full legal name, address, and identification details of the primary borrower

5. Co-Borrower Information: Full legal name, address, and identification details of the co-borrower

6. Loan Reference: Details of the loan application or existing loan number if applicable

7. Authorization Statement: Clear statement of authorization granted to the co-borrower, including specific powers and responsibilities

8. Duration of Authorization: Time period for which the authorization is valid

9. Declaration of Sound Mind: Statement confirming the primary borrower is acting voluntarily and of sound mind

10. Signature Block: Space for signatures of primary borrower, witnesses, and notary if required