Investment loan in joint name and sole owner on property title

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Bruce4Tax · Answer

However, our mortgage has to be in both our names as we can't take out a mortgage of that size individually. Mortgage can be in joint names, but loan should be only in the name of property owner. This can be done e.g. with you as guarantor. Can my husband claim the interest paid in full, given that the mortgage is in both our names? No - That is why loan should not be in joint names. it may be possible to create a legal document whereby your role in borrowing is only as his agent - legal advice needed. Does not matter so much what bank account the rent is paid into.

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