Hi guys - hoping you might be able to help:
My partner and I are planning to buy an investment property as under a 'tenancy in common' loan.
We will be splitting 60/40 and want to know if the rent from the property will also be split by this proportion? Hypothetically, if the rent is $500 per week, will 60% of that be included in his income and 40% included in mine?
Yes
U have to garuntee each other's loan, makes very hard to borrow again
Property share passes through will if a death occurs
For 60/40 split why bother
Which bank you use?