Some years ago I bought an investment property with my family as tenants in common. I now want to buy my own main residence ( I still live at home). I own 45% of the investment property and when I have seen the ANZ bank and a couple brokers, they have told me that they look at 100% of the loan liability and only 45% the income. This basically blows my liabilities out and I can only borrown 100k, which is no where near enough.
As far as I know I have the following options:
A) transfer the title of my share to my family (pay stamp duty and CGT, refinance the loan and hopefully their incomes will cover it)
B) Transfer title to a trust I set up with a trustee company and take my income as guarantor for the trust ( same as above but I still own the share of the property).
Selling is not an option unfortunately. I was wondering if I were to do option B will I still need to disclose the investment loan when applying for a home loan? Or because it is a contigent liability I will then be able to free up my borrowing capacity?
Or if anyone else has any ideas that might help me out?