Split loan between members of a couple

Discussion in 'Loans & Mortgage Brokers' started by legallyblonde, 10th Oct, 2015.

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  1. legallyblonde

    legallyblonde Well-Known Member

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    Oh that must be so painful!

    I agree, working to secure your financial future is an attractive feature in a partner! Too much tension and conflict otherwise.

    They always say money is the main thing partners fight about.. I think it is so important to be on the same page and aiming for the same place.. Otherwise there will always be resentment!
     
  2. Marg4000

    Marg4000 Well-Known Member

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    Irrelevant today, but hubby and I bought our first block of land in 1971 with individual loans (half each) from each of our banks as we were not married at the time. Probably personal loans?
    Marg
     
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  3. albanga

    albanga Well-Known Member

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    Very interesting thread but none the less of it was a new relationship that went south how does having split loans help?

    If one party wants out then ultimately you need to sell the entire property to pay out the debt. I get it for the other reasons but it has no security against a break-up unless I'm missing something?
     
  4. Terry_w

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

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    No benefits in a split up other than each persons repayments are segregated so easy to say who paid for what - which is something the courts look at under s79 Family Law Act.
     
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  5. EN710

    EN710 Well-Known Member

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    Why would not he let you at all? Zero risk tolerance?

    This was my situation until recently as his goal changes and he ok'd accesing PPOR equity. I did assure him I have similar amount of cash to cover the increase :confused:

    I guess it's easier as we have offset for to get the next PPOR. He became less attached to this one now.