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Shortt takes on Joint Equity role

Goldsmith Williams corporate services director David Shortt has joined Joint Equity, a private shared-equity scheme which pairs investors with property buyers.

He will take up the post of business development director while having a freelance role at Goldsmith Williams.

Joint Equity is a scheme whereby first-time buyers can mortgage between 75 per cent and 50 per cent of a property, sharing the remaining mortgage with an investor partner. It matches buyers with individual or business investors and manages the relationship for a minimum of two years.

The occupier pays rent to the investor and equity can be bought and sold between the pair, with both tied by a deed of co-ownership.

The mortgages are offered by Buckinghamshire Building Society and to the investor through Royal Bank of Scotland’s commercial lending department.

Managing director Brad Bamfield says: “We focus on the occupier taking the lead but the investor becomes a partner in a very equal relationship, unlike buy-to-let, which is a very unequal relationship.”

Shortt says: “This offers a fantastic lifeline to those aspiring first-time buyers and at the same time it offers a great investment opportunity for people looking for a sensible rate of return on a property investment.”



Dismay at proposal to axe child trust funds

The Tories’ pledge to scrap child trust funds for the majority of families will damage the savings culture that the party claims it wants to promote, say industry experts.

Commercial activity

Back in March, I mentioned that I was starting to detect signs of optimism among commercial property fund managers after a torrid couple of years. Don Jordison and Chris Morrogh at Threadneedle had done better than most during the downturn because they had kept a lot of the fund in cash.


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