All Topics / Finance / Joint & Severally Liable

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  • Profile photo of woodsmanwoodsman
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    @woodsman
    Join Date: 2004
    Post Count: 714

    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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