Tuesday, July 21, 2009

Co-ownership mortgages being offered by banks

Check this!! Commonwealth Bank and several other banks are launching mortgage products which would enable co owners to keep their repayments separate after it visualized several friends opting to buy a house together.

Already there has been a 300% in the number of buyers opting to take mortgage with their friend in the last six months. This is being opted by first time home buyers who cannot afford it on their own or don’t meet the strict lending requirements. All of them seem to be eager to seek advantage from the boosted federal grant before its expiry by the end of this year. Life is not as easy mate as you might feel!!

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