Property News · September 26, 2016

Struggling to get on the housing ladder? Why not buy with friends


If you’re prepared to share, then two incomes – or even more – can get you on to the property ladder. But make sure you get all the details agreed in writingFor the single home buyer, the prospects for getting on the property ladder are not encouraging. The difficulty of saving for a deposit, coupled with a lack of appetite among lenders for high loan-to-value (LTV) mortgages, means the number of singletons making purchases is dropping.So it is little surprise that an increasing number of friends are coming together to buy. Figures from conveyancing firm My Home Move show the number of homes bought by “single” purchasers has fallen by an average of 4% over the past five years, equivalent to around 10,000 transactions a year. Continue reading…

Source : theguardian.com
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