Co-buying ''is not an option''

Co-buying a property will never catch on, or at least that is the opinion of one property expert.

Although it is a good thing that there are alternatives for getting on to the property market for those who feel it is too expensive, co-buying is unworkable according to one estate agent.

Firstrung helps first-time buyers and its spokesperson Paul Holmes says that there are far better things you can go than co-buy where you will end up with juts a quarter of a property.

He said: "Kent Reliance offer a mortgage taking into consideration lodger contributions and Rooftop offer a mortgage based on rental payments having been met on time at a previous residence."

He added that in short there are enough opportunities available for the adventurous first time buyers without the need to buddy up.

Home ownership is a very British phenomenon with only 14 per cent of homes in Germany being privately owned because renting is so popular and without a social stigma.


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