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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.”

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