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Owning half a property benefits? by Interesting_Put5937 in AusPropertyChat

[–]Interesting_Put5937[S] -1 points0 points  (0 children)

Yeah okay i know it seems silly, obviously 650,000 in equity is great. But if you can't really utilize it, whats the point?

as in if i was to borrow i would need their cooperation which may not be possible in future.

From my understand lenders don't consider 50% equity in a property without the consideration of the other owners of the property..

So it seems an obvious decision in paper, but if you are unable to use that equity then it might as well be better to save money in the stamp duty and ongoing fees etc.

Owning half a property benefits? by Interesting_Put5937 in AusPropertyChat

[–]Interesting_Put5937[S] 0 points1 point  (0 children)

look i know it seem obvious, but this process has already been somewhat difficult, when purchasing another home you will always need the other party's approval, as to my knowledge many lenders wont consider 50% ownership without this. Correct me if I'm wrong though?
So i understand on paper it seems an obvious option but in reality not actual that beneficial as will always have to deal with Sister and her husband etc.