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  1. B

    Loan when investing with friends

    Thanks for your thoughtful responses. I rang CBA and so did my broker at a separate time. Call Centre guy said we could although not the property share loan as that would only be available if we were going to live in the property. Our broker spoke to an account manager (or whatever they are...
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    Loan when investing with friends

    It is in a rural area (pop approx 8000) but nobody has said this is the actual problem citing the security position as being the issue. From my simplistic viewpoint, I would have thought if you could take security over the whole property with a guarantee in place as well that you, as a bank...
  3. B

    Loan when investing with friends

    All correct. No bank jostling. They are using Line of Credit so no mortgage over the IP needed on their side as borrowing against LOC on their PPOR. Ours (A) would be the only mortgage on the place and would only be for half the total value of the place. Yes, they are offering guarantee for...
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    Loan when investing with friends

    Hi After having a pre-approval in place for some time we decided to sign a purchase contract on our first IP with friends (highest earner in each couple are parties to contract). Well, turns out that although our required 50% share is much less than our pre-approval no lender seems to want to...
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