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  • Profile photo of Kristy27Kristy27
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    @kristy27
    Join Date: 2010
    Post Count: 4
    September 22, 2010 - 9:21 am

    Thanks for the advice…..yes I probably would be reluctant if I was asked to do same thing too.

    But speaking to the ex it might be easier than I thought….he is looking into buying the property himself, so buying me out so will gain the physical cash. So soon enough I may just have the cash to purchase new property & use an offset account to put spare cash into.

    Cheers
    Kristy27

    Profile photo of Kristy27Kristy27
    Member
    @kristy27
    Join Date: 2010
    Post Count: 4
    September 16, 2010 - 12:27 pm

    Hi Richard,

    Yep both names are on the original title & I have had the serviceability of a new loan looked at with no probs, taking into account the 100K still owing on total original loan.

    So are you saying there is a sub loan only on the equity as such – and then the new loan is in my name only. This is obviously what I'd prefer.

    What do you mean by "the entire loan secured would need to be discharged" ??? Is there any physical cost to "lose the guarantor" as such????

    Thanks for your help….flying 1/2 blind here!
    Kristy

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