How do people today manage to get their foot on the property ladder today when soaring house prices far outstrip their salary and chances of a mortgage?
Take Cambridge, where average house prices are £277,812 - way beyond the means of the average worker.
One answer seems to be doubling up with a stranger to find your dream home, with co-buywithme placing ads along the same lines as a dating agency.
A couple of examples are Oliver, in his 20s, who has a deposit up to £30,000 and whose first choice is Cambridge, he is flexible and gets on with most people; then there is Kim in her 40s who is looking to buy a 3-bed house with her husband in Cambridgeshire, they have up to £5,000 deposit.
So even couples can’t afford a mortgage, they have to buy in with a stranger, what will happen in the next ten years? How will our kids be able to afford to buy somewhere?
Would you buy a property with a stranger? What would happen if you fell out, if you disagreed about the colour of a new carpet, sharing the housework? What other ways can you suggest for people to buy their first property, or should they not even think about it? What can government do to help people become home-owners?
Nathan’s experience is cited as a success story, he bought two properties this way, including one abroad with six co-buyers, and Steve tells how he bought a 3-bed flat in Crouch End with two co-buyers, and they are now buying other properties.
