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Property Share

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Features and Benefits Eligibility Criteria Applicable Loan Options Lending Margins
  • Property Share allows for borrowers to purchase one property using separate loan facilities. Note: A maximum of two loan facilities per security is allowed where each loan may have multiple borrowers. Borrowers can split their loan facility to best suit their needs (see example below).

  • Each loan facility can be for different amounts, with different loan types, duration and payment structures.

  • LVR is calculated on the combined debt and LMI (where applicable) will be split proportionately and capitalised to each loan.

  • All applicants must be owners of the property – i.e. no third party guarantors.

  • Customers must prove servicing for their own loan facility.

  • Customers must always guarantee each others loan(s) (security support only).

  • It is mandatory that customers seek independent legal advice before entering into a Property Share arrangement and sign a Statutory Declaration which will be sent with the Guarantee to each Guarantor.

Property Share is available on all Home and Investment Home Loans and Viridian Lines of Credit, including Low Docs. Mortgage Advantage (MAV) benefits may apply.

The circumstances of the loan will determine whether LMI may apply. Refer to Security Lending Margins for LVR limits and use the Postcode Lookup Tool for specific LMI Policy.

 

 

Interest Rates

Standard Home Loan, Investment Home Loan, Viridian Line of Credit interest rates apply.

 

Fees and charges

Standard Fees and Charges apply.
A Security Guarantee fee will be payable on each loan.

 

Exclusions

Property Share is not available for:

  • Equity Unlock Loan for Seniors
  • Bridging loans
  • Purchase of land
  • Building/construction loans

 

How does it work?

Example: Nick and Sue, and James are friends who currently rent a house together. They want to buy a house together valued at $540,000 but want to keep their finances separate.

  • James takes a loan for $250,000 in his name (one loan facility);
  • Nick and Sue take out two loans totalling $250,000 in their name (one loan facility);
  • All loan facilities would be liable for LMI in this example.

 

Fact Sheet

Property Share Process

 

The circumstances of the loan will also determine whether LMI may apply. Refer to  Security Lending Margins for LVR limits and use the  Postcode Lookup Tool to determine specific LMI Policy.