Time to con­sider joint own­er­ship

Yorkshire Post - Property - - PROPERTY -

FIRST-TIME buy­ers hav­ing dif­fi­culty get­ting onto the hous­ing lad­der are be­ing urged by es­tate agents to con­sider pool­ing their fi­nances with friends and fam­ily in or­der to buy their first homes.

The Na­tional As­so­ci­a­tion of Es­tate Agents (NAEA) be­lieves buy­ing with fam­ily or friends could help to spread the costs of buy­ing and main­tain­ing a home.

A spokesman says: “Joint own­er­ship can, in the right cir­cum­stances, of­fer a way of avoid­ing the high costs as­so­ci­ated with buy­ing a prop­erty. By split­ting the de­posit, main­te­nance fees and mort­gage re­pay­ments, this could make own­ing a home a more real­is­tic aim for many would-be first-time buy­ers.”

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