Couples and finance

Discussion in 'Loans & Mortgage Brokers' started by smallbuyer, 6th Jan, 2017.

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  1. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Yes as you are each liable for the whole debt but only get income on your portion of the rent based on ownership %
     
    Terry_w, 24th Jan, 2017
    #21
  2. _alex_

    _alex_ Active Member

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    Unless we continue to buy in tenancy in common for all future properties??
     
    _alex_, 24th Jan, 2017
    #22
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    If you can continue to buy jointly you will be both on the loan, with no options, so it won't hurt servicing. But if one of you suffers a credit problem it could hold you back.
     
    Terry_w, 24th Jan, 2017
    #23
  4. Ethan Timor

    Ethan Timor Well-Known Member

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    I have seen cases where both partners are on each of the loans but the title of each property is under only one of their names. Makes it easy when calculating land tax, negative gearing (if applies), CGT (if selling) and in case they break up... :oops:
     
    Last edited: 28th Jan, 2017
    Ethan Timor, 28th Jan, 2017
    #24
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