All Topics / Finance / Sharing a home loan between 4 people
Hi all
Are there any limitations in purchasing say an $800,000 property (with a $250,000 deposit) with 3 other people? i.e can 4 people sign up for a $550,000 mortgage? My wife and I along with our aunty and uncle are seriously considering buying a beautiful large home in the inner city, and just quartering the repayments. Thus living close to our work places, in a great location and then we will just quarter (or half since we are 2 married couples) the profit when we sell?
Does anyone see any problems with this? and apart from the obvious (sharing a house) why aren't other people doing the same? or are they??
any feedback is appreciated!
Hi there
I have answered this in the other area which you placed it.
Richard Taylor | Australia's leading private lender
here
https://www.propertyinvesting.com/forums/property-investing/help-needed/4329871?#comment-198359Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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