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'I bought a house with my friends'

19 May 2011 Last updated at 23:56 BST

Some first-time buyers, faced with demands for large deposits from lenders, are choosing to buy their first property with friends.

Estate agents say that joint ownership can make financial sense, but only if the deal is thoroughly thought through in advance.

Former school friends, Neil Tippett and Andy Jones told the BBC why they decided to buy a house together with a third friend, Sam Jones.