Can we get a property loan in both our names and keep the title in my name only to get the maximum tax benefit?

Q.

My wife and I are thinking of buying a second property, however, I am the main money earner (95%) and pay quite a bit of tax. We want to reduce my tax but I cannot get the property loan solely on my own. Can we get the loan in both our names and keep the title in my name only to get the maximum tax benefit?

Keep in mind that buying an investment property is usually a long term process and you could be in very different tax brackets if you sell it in twenty years time. However, I do agree that it is better to take a tax break sooner rather than later so talk to your accountant and your bank about the possibility of buying the house in your name with a loan in your name but with additional security over the additional house and also a guarantee from your wife. This should keep everybody happy.