Shared Equity Scheme
The Scottish Executive are handing all first time buyers a helping hand up onto the property ladder by lending between 40% and 20% of the property value through a registered Social Landlord.
This will give much needed assistance to first time buyers who are short of a deposit or struggling to get a larger enough mortgage or are on low wages. The equity will be shared by the buyer and the Housing Association.
Whether owners will want to have part ownership of a property will remain to be seen…
The popularity of this scheme North of the border will determine whether it is expanded to the rest of the UK.
Find out more about the Scottish Supply Shared Equity Agreement Scheme