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News: Struggling FTBs share the burden

Wed, 12 Sep 07

There has been a significant increase in joint property ownership, according to Linden Homes...

Today’s generation of first time buyers are starting to realise that pooling funds is the most affordable way of getting on the housing ladder.

The average age of a first time buyer in 2007 has reached 34, with typical deposits in the region of £25,000 as house prices continue to soar.  Consequently, many buyers are now viewing the process as a continuation of their flat sharing days, teaming up with like-minded individuals to gain an earlier footing on the ladder.

Paul Cooper, Managing Director of Linden Homes South East, comments: “Buying jointly with friends or siblings is becoming increasing popular as young people struggle with property prices in today’s market.  By pooling funds, raising a deposit becomes more manageable and the combined income enables sharers to buy a home they actually want to live in.”

 For further information please visit Linden Homes at http://www.lindenhomes.co.uk

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