Why would he pay rent if he owns his half of the house?
since the mortgage is interest only and house prices are still falling he wouldn't be any better of taking 1/2 this house than he would be renting imo. his FTB status is valuable & he should think carefully before losing it. he might not be able to get mortgage approval now but things could change a few years down the line - what if he wants to buy with a girlfriend/wife?
He would pay 600E into the mortgage each month
Oh right. It's not rent then.
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