I have really struggled to get a straight answer out of any finance professional about this question. Yet, i am sure it must be such a common predicament that there must be a reliable solution?
I am wanting to buy property with a sibling, obviously we will buy in Tenants in Common. However, i understand this may negatively affect my individual borrowing capacity should i ever want to buy a home with my partner, or invest with someone else. The banks count 100% of the loan but only 30% of the rental income to calculate your serviceability (apparently). I would like to avoid that!
How does one get around this problem? Does anyone have any solid advice, ideas or experience?
I am wanting to buy property with a sibling, obviously we will buy in Tenants in Common. However, i understand this may negatively affect my individual borrowing capacity should i ever want to buy a home with my partner, or invest with someone else. The banks count 100% of the loan but only 30% of the rental income to calculate your serviceability (apparently). I would like to avoid that!
How does one get around this problem? Does anyone have any solid advice, ideas or experience?