I am expecting to be entering in to a tenants in common agreement later in the year and wanted to clear a few things up before seeing a broker. I expect the broker to be able to answer everything but it would be nice to go in with a bit of knowledge and understanding.
In terms of getting our separate loans, how does the bank view genuine savings, deposits, LVR and FHOG between the two of us? If they need 5% genuine savings, should we each be showing at least 5% of half the value of the property?
In terms of pre-approval in order to know what we can afford, should we be sorting out an agreement first?