In Montreal, Undivided co-ownership's require a larger down payment (20%) and are only financed by 2 banks: “The National Bank” and “Caisse Populaire”. The lender will already be involved when you make an offer to purchase, so you won’t be able to shop around and choose the best rate the way you can for a divided co-ownership.
There are also other risks associated with buying a property as part undivided co-ownership agreement which is part of the reason most lenders will not provide loans for these investment types.
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