Shared ownership schemes are not for everyone

People looking at shared ownership schemes as a way of getting onto the property ladder should be aware that they are not suitable for everyone, according to a sector specialist.

Sharetobuy.com said today (November 27th) that such schemes were "not the only way" for people to get into the UK property market, adding that it depended on "the person and the circumstances".

James Cartlidge, director of sharetobuy.com, said: "In terms of whether it is 'best', it is very hard to say. Some people may not like shared ownership because they feel that if they were renting before what is the point of renting again and if you are buying with friends then at least you own the whole property."

A record number of shared ownership homes were built in London last year, according to the Mayor of London's office, with a total of 4,686 new "intermediate" houses being completed in 2006/07.

Property Investment News posted on 27/11/2007 17:04:23