Co-buying sees ''online matching trend''

With house prices remaining high and pricing many first time buyers out of purchasing a property independently, a fascinating development has taken place within the co-buying sector.

Websites offering to set-up a co-buying match between two independent parties are now appearing which aim to help people to find housing more affordable.

Ray Boulger, from the UK''s leading independent mortgage adviser John Charcol, says that many of the websites, such as co-buywithme.co.uk resemble dating sites for homeowners.

He added: "They put together two or more people who want to buy a property but can''t afford to buy one on their own.

"They are mortgage matchmakers. That can be very dangerous because most of us wouldn''t buy a property with a friend let alone a stranger."

Other mortgage experts from Firstrung, which deals only with first time buyers, have also expressed concern at the pitfalls of co-buying.

Dividing up profits can become a headache and might not be worth the hassle while the ambition of home ownership is never realised if you only own half of it.


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