LTR held in dual partnership and mortgage with one partner only

[Chirisum Venkataramaiah]

Fellow BP,

A relatively newbie investing in RE in partnerships. We are in the process of acquiring a LTR property which we plan to hold between 2 of us partners. We are planning to use leverage on one of the partners only. The question I have is, are there any disadvantages to this approach as against both partners being on the mortgage. How does this work when it comes to claiming tax exemption on mortgage interest paid? Would it be useful still maintain a joint account to handle income/expenses? 

Thanks in advance!