Joint borrowing: important issues when co-borrowing money as "tenants in common"
When a group of people borrow money together as tenants in common, lenders will usually just add up the incomes, commitments, assets and liabilities of each member in the group and assess the group together.
All the purchasers’ names will go on the mortgage and title deed and the co-borrowers will be jointly and severally liable for each other's debts.
PodProperty's group finance service - you are in safe hands!
PodProperty is pleased to provide you a complete range of finance and insurance solutions covering your group purchase as tenants in common and all insurances that you need to safeguard against things going wrong.
PodProperty is able to secure you the most competitive financing solution, whatever your purpose, because it has such a wide range of leading banks and financial institutions on its books.
Can we help you?PodProperty has assisted thousands of groups of people with their finance needs. Our finance services are provided to you at no charge, obligation free.
So what are you waiting for? Call now on 1300 791 782 or download our free Guide.
Useful Links:
Mortgage default: what happens if I am a co-borrower and one of us defaults?
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