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Can I avail a loan for buying joint property with sister? - Property Hotline
Posted
July 1, 2016
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July 1, 2016
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2:14Now PlayingBe Un Confused
Expert: Kartik Jhaveri, Founder & Director, Transcend Consulting India Pvt Ltd
Question: I am married. I want to buy a flat in Virar jointly with my married sister. Both of us will pay equal amounts for the purchase of the flat. Can we avail a loan from a bank for this?
Answer: Yes you can avail a loan. But to get a loan with siblings is not a good option. Buy what you can afford - That's a better idea. Banks are worried about the servicing of EMI in the event of any family frictions or problems. Alternatively, save up the money and buy the property jointly as loan option seems highly unlikely.
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