Joint venture with family member

Discussion in 'Investment Strategy' started by QB12, 30th Apr, 2020.

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  1. QB12

    QB12 Member

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    Hey guys - just after a bit more information on a JV.
    Are these only used as a short term option or can you use one for long term purposes too? Say - to buy your next PPOR.. with plans to keep it for 10 years or so? Both servicing the mortgage, both going halves with deposit/ using our properties equity. And then we we sell / parting ways/ splitting down the middle / or option to buy out drawn up in the contract ?
     
  2. Terry_w

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

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    A 'joint venture' is a pretty vague term used with many different meanings. Sounds like joint ownership is what you are talking about.
     
  3. QB12

    QB12 Member

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    That is a thing in terms of lending criteria? Joint ownership application?
     
  4. Terry_w

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

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    Usually all owners will need to be on the loan, either as a borrower or a guarantor