Crowdfunding Right-To-Buy?

[juvenal]

http://www.theguardian.com/money/blog/2015/apr/18/right-to-buy-council-houses-wrong

But now something else emerges about the right-to-buy process. According to the agent, there can be up to six names on the purchase agreement, in what he describes as a “crowdfunding” arrangement – although they do have to prove a connection to the property.

Extract from link.

So are we now in a situation where a little 'syndicate' of six people can club together on a hugely discounted house/flat purchase?

Discount up to £100k....

Sell the property in five years at market value plus bonus of HPI and the embedded discount. A better payday for the syndicate than any ISA - that's for sure.

Or has Patrick Collinson got it wrong? He doesn't very often....

Edited April 18, 2015 by juvenal

[Arpeggio]

With many pyramid schemes the rip of amount is far less per person, therefore you can have more people at the bottom of the pyramid.

.....but I think 6 is probably the max for housing, if even that.

[renting til I die]

As a private tenant, right to buy, with 1 2, 3, 4, 5 or even 6 persons buying, just makes me feel sick.