In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
Joint loan
It is loan you share with one or more people. Each borrower is jointly liable for a joint loan.
If you're approved, both you and the other party involved will sign a promissory note. You will both be equally responsible for making payments on the loan, though one of you can make the payments on behalf of the pair or group.
Be aware that if someone stops making their share of the payments, the lender can penalise and come after any of the borrowers for the money, since they are all equally responsible. There is no legal limit to how many people can be on a mortgage, but your lender may have restrictions in place.
The benefits of a joint loan are that it may be easier for approval of a loan, as both applicants are assessed on their credit rating and financial history, so there is more income to be considered.
Learn MoreThe process of taking out a loan or other sort of finance with another individual, known as a co-borrower, is known as joint borrowing. If your application is approved, a joint personal loan or credit card will be issued in both of your names, and you will be legally responsible for the debt repayment.
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