From: Brian Rich
Can anyone out there tell me if this is normal? I have a loan with a credit union and every time I take out a new loan to buy or refinance an IP they tell me my partner needs to see a solicitor to be read the contract and make sure she understands it. They say it has to be done each time as it is a new contract and she owns half our house (we are defacto) and the loan & house is only in my name. We have to use the equity in our house, as the IP we currently own has not increased sufficiently in value. We have just re-financed for 5 years but want to buy more and are wondering if it might be more beneficial in the long run to change banks, or are all banks the same?
Has anyone else had this problem and if so is there anyway out?
Regards
Brian
Can anyone out there tell me if this is normal? I have a loan with a credit union and every time I take out a new loan to buy or refinance an IP they tell me my partner needs to see a solicitor to be read the contract and make sure she understands it. They say it has to be done each time as it is a new contract and she owns half our house (we are defacto) and the loan & house is only in my name. We have to use the equity in our house, as the IP we currently own has not increased sufficiently in value. We have just re-financed for 5 years but want to buy more and are wondering if it might be more beneficial in the long run to change banks, or are all banks the same?
Has anyone else had this problem and if so is there anyway out?
Regards
Brian
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