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Miles

1 week ago

Hi Max, I glean from the limited information provided that you do not intend to buy another property with your current co property owner / partner. This is ok with certain lenders - however the thing to remember is that depending which lender you use to buy another property, the total servicing obligation of the existing mortgage would be added to the new debt servicing obligation of the additional property mortgage servicing assessment and may impact / limit on the total amount the you wish to borrow for the acquisition of the additional / new property.

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Alex

1 week ago

Hi Max, the 10% equity owner would need to consent to the borrowing of additional funds. Provided they do so, then most lenders would consider. However I'd need to know more about your situation (i.e income, expenses, other debts & assets etc) to recommend a specific lender. Click on my profile if you'd like to discuss further.

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Ivano

1 week ago

G'morn Max. Lenders can consider your position but if you wish to utilize equity from a property that is also owned by another party, albeit 10% holding, that party would still need to agree to it. Click on my profile and contact me if you wish to discuss further queries or concerns, thanks.

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Robin

1 week ago

Hi Max Hi Max. I have lenders who will consider using your equity but I need to know a couple of things. Do you and the 10% holder have the same lender (common mortgage), and are you related to the other party - blood or marriage? The main issue that lenders have is that either one of you could sell your share to another party and involve another lender (difficult but possible). Lenders will consider all of the debt as yours should the other party walk away from their 10%. Best email me extra information covering the above and also indicate what the property is worth (is it commercial or residential?) and how much equity do you own. Cheers.

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Andrew

1 week ago

Hello Max, there may be some options available to you but more information is needed. Please feel free to click my profile and contact me if you would like to discuss further.

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