This is great news for 1st time buyers and if you have a house already, you can get one of your family members, close friends, etc, to help be a guarantor; for a short time... The same principle as renting, but no money exchange hands; it is the same in the buying market...
This is great news than selling the house off, especially with relationships breakdown or joint ownership with friends...
It was very popular, years ago; especially when you are students trying to get on the property ladder... A lot of my friends where buying together and then when boyfriends or girlfriends came along; it caused problems...
I have a couple of friends that have joint ownership and instead of buying it each other out; especially if there is no equity in the house, as the housing market has hit a slump...
http://www.fool.co.uk/news/property-...uaranteed.aspx
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