Buying with a buddy?

The Telegraph’s Laura Miller looks at the realities of buying a property with a friend, noting that with prices rising and deposit requirements often proving a challenge, pooling resources can be a way for young buyers to get a foot on the ladder. Catherine Beaumont, of consultancy London Money, says would-be co-buyers should ensure they seek legal advice over a declaration of trust; consider the credit risks involved and look to shorter-term fixed rate loans “so you aren’t tied in for too long, facing an early redemption penalty to pay should things change.” “A mates mortgage should be carefully considered,” she adds.

The Daily Telegraph (19/08/2018)