I intend to co - own, the house property with my brother/
or/ sister/ or father/ or mother or
these blood relation together. Will I be Eligible for a Housing Loan?
You would not be eligible for a loan as most home loan lenders (Banks
and Housing Finance Companies - HFCs) allow only immediate relatives that is
blood relatives to co-own a house property.
This means that a parents - son (Rarely Daughters) combination and a
husband - wife combination is only allowed.
The reason for this restriction is
that if some dispute arises between the joint borrowers, their incomes might
not be pooled any longer and there might be a problem in repaying the loan to
the bank or HFC.
The reason for this restriction is
that if some dispute arises between the joint borrowers, their incomes might
not be pooled any longer and there might be a problem in repaying the loan to
the bank or HFC.
No comments:
Post a Comment