Saturday, August 27, 2011
Return of the ‘canny’ property buyer meme
First-time buyers are cannily pooling resources, asking for parental help and using part-buy schemes. Charlotte and Anna used help from their families to raise a deposit on a townhouse in Cardiff Bay. "We both knew we couldn't afford it on our own so it made sense to buy with someone who was in a similar position," explains Charlotte, 25. Housing minister Grant Shapps has urged lenders to further embrace the concept of so-called "mates mortgages."