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With the decline in borrowing capacity over the last nine months we have seen more and more clients ask us about the idea of partnering with a friend or a family member in order to buy a property.
This may seem like a great idea initially as there is likely to be a substantial uplift in borrowing capacity allowing you – as a Joint Venture partnership – to secure a higher quality asset. However there are many risks to be aware of though, for example relationship breakdowns, competing priorities, and reduced lending options for each partner moving forward.
In today’s episode of the Long Property Show we discuss these issues in detail as well as a niche loan product which in certain scenarios may optimise the structure.
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The Long Property Show provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. Nothing in the Long Property Show constitutes legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
