People considering shared ownership could opt for flats to rent in London
People who are struggling to buy a home on their own and considering shared ownership could decide to rent flats in London while the market remains uncertain.
David Amstell, founder of Briffy.com - a British property website - said even though a decision to purchase an establishment with the help of someone else may give them a small step on the ladder, it may not be a worthwhile strategy at the moment.
He stated that it is now more difficult than it ever has been to buy a home and the idea of shared ownership is not one he particularly likes.
"You have to be careful," Mr Amstell added. "You have to watch what the schemes have to offer and what all the details are. Read the small print."
Earlier this week, Stephen Ludlow, director of the Ludlow Thompson letting agency, told the London Evening Standard that the high demand for rental properties experienced this summer showed no sign of losing pace.
By Ben Carter
Published 11th November, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
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Shared ownership of a home may not be a worthwhile venture, it has been noted.