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Pros and cons of borrowing jointly

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  • Perry
    Joint? Joint and several? Who's involved, exactly? All three of you? You don't say.

    Borrowing from what institution?

    I suspect that daughter will have no income on offer, so why bother?

    Is renting to your daughter an option?

    Renting with flatmates might teach her a thing or two.

    Leave a comment:

  • cesami20
    started a topic Pros and cons of borrowing jointly

    Pros and cons of borrowing jointly

    Hello everyone,
    Needing some advice from fellow investors. We are a small family of three. We own our home in Avalon (50K left) and an investment property in Otaki (280K). We are planning to build an accessible home (700K) for our young son. Initial plan was selling home and use the money for the new house keeping the rental property. My student daughter has been offered a stable job. Now thinking of leaving my daughter in her home with a flatmate. My daughter was planning to move out from next year but we all know how difficult is finding a decent accommodation especially for students. We thought it would be a good opportunity if we could keep our home eg. no housing issue, daughter learning to live independently and is still closer to us. What are the pros and cons of being joint borrowers? What other options could be there for us?
    Last edited by Perry; 16-08-2018, 02:42 PM. Reason: formatting