shared ownership

Shared ownership has been available in England since the 1980s and enables a first-time buyer to own a "share" in their home of between 25% and 75% of the value.

"Although shared ownership is usually seen as an option for younger, first-time buyers, that is not always the case," says Laura Gaskell, sales manager at shared ownership specialists Snugg Homes.

She didn’t want that to happen, but she said that Covarrubias, who shared ownership of the trees on the property line, needed to be consulted.

Two years ago, Guy Benson, a young city worker and part time Liberal Democrat activist, bought 25% of the lease for his £700,000 flat under a shared ownership scheme.

Although Mr Kretinsky said he is "very open" to profit sharing, he is not in favour of shared ownership.