UK Money News
29th November 2007
Shared ownership 'not right for every property'
While shared ownership can provide a valuable opportunity to get on to the housing ladder for some, it is not suitable for all circumstances.
Personal finance specialist sharetobuy.com admits that in some cases the scheme which gives it its name will not be an appropriate model to provide help with money.
For example, while young people buying with friends or entering into a contract with a housing association might benefit from share-to-buy, buyers looking for a larger, older property would not find such a deal appropriate.
James Cartlidge, director of the company, remarks: "If you want to buy a nice big four bedroom house built in the 1900s or something then you can't do the shared ownership [scheme]. That is the biggest difference, the property that you can potentially buy."
The money news follows a report from the mayor of London's office which states that a record number of shared ownership homes were constructed in the capital last year, reaching 4,686 "intermediate" houses established between 2006-07.
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