Hiya
In the process of financing 2nd Ip. Due to tax reasons, trying to put 99%
in hubby's name and 1% in my name.
Mortgage broker first says Office of State Revenue (the one that collects stamp duty i guess??) does not allow that; checked with conveyancer who says this is not true. Then broker backtracks and says Commonwealth bank (which is where i am getting the loan) will not approve; says minimum 90%, 10% ownership.
Is that true? I smell a rat here, but why would he lie?
Cheers
In the process of financing 2nd Ip. Due to tax reasons, trying to put 99%
in hubby's name and 1% in my name.
Mortgage broker first says Office of State Revenue (the one that collects stamp duty i guess??) does not allow that; checked with conveyancer who says this is not true. Then broker backtracks and says Commonwealth bank (which is where i am getting the loan) will not approve; says minimum 90%, 10% ownership.
Is that true? I smell a rat here, but why would he lie?
Cheers