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All Topics / Finance / Joint & Severally Liable
From a finance viewpoint, where there are two applicants in purchasing property, both are joint and severally liable for the entire debt. Consequently, as I understand it, when you are going for your next IP or PPOR, banks will take into account your the entire debt when calculating LVR & serviceability impacts.
Is that true for all banks? Is there a way around this at all?
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