Major issue with property division and legal structure - help!

[RumpledElf]

So I was offered a fulltime job in Sydney and I took it.

I am breaking up with my partner.

The joint house we own is going to be an investment property.

I should have just bought out my partner half of the house and had it as an investment property myself.

But no, my boss hasn't given me paperwork or payslips and now I am totally stuck with a JOINT investment property (totally unsuitable to my partner on CENTRELINK) with a low loan.

WHAT THE **** DO I DO ABOUT THIS

I am seriously ready to kill my boss about it, but I think it is safer to just quit and find another job and try and refinance later, but this will be after the property is rented out. Can I even change the loan/structure of this after it is rented out? Can I get the name on the title changed and pretty much write an IOU to my partner for their part of the house?

I can't get a loan. Just can't. Taking this job was supposed to fix this.

Hard to explain how pissed off I am at my boss right now.

 

[Aaron_C]

Why do you need payslips? Get a lender where you can show bank statements to prove income and refinance it now.

 

[RumpledElf]

My boss doesn't pay regularly either.

I've been there two months, I've got 3 pays, none of them were the right amount.

 

[Aaron_C]

Still possible depending on servicing!

 

[MRO]

Sounds like it is time to get a new job regardless of the situation of the property. When you are not paid right and regularly there is probably not a long term future for the company. It is a good sign they are incompetent.

Why not sell the property and purchase at a more suitable time when you have resolved the issues you are trying to deal with.

 

[RumpledElf]

Its going to take months to sell in this climate, and having an empty house is expensive, especially given the loan is an 'interesting' structure and we are paying loosely twice what we would be if we were with any other bank.

It is rural, the advice at the moment is to hold it until the next large infrastructure project goes up in about a year. Of course when that happens rents tend to spiral up to $600+ a week and you don't want to sell.

I've been advised to lodge a formal complaint with Fair Work and possibly the tax office too. New job first, of course.