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Shared equity scheme to help first-time buyers get onto the property ladder

Published: 18/05/2017 Last Updated: 18/05/2017 14:30:31 By: Alison Mackay Tags: shared equityfirst time buyer

If you are having problems getting onto the property ladder it may be that the Scottish government’s “Golden Share” scheme could help. 

The Golden Share scheme is one of a range of affordable housing schemes designed to help first time buyers who wish to own their own home but who cannot afford to pay the full price for a house.

It is part of the “shared equity” type scheme which means that the Scottish government or local authority keeps a financial stake in the property so you do not have to fund it all. You will pay for the majority share in the property and the Scottish government/local authority will hold the remaining share under a Minute of Agreement which they will enter into with you.

The sales process is similar to a standard house sale but the property price is capped at 80% of open market value for all future re-sales. A purchaser must show that he/she is eligible in order to qualify for the scheme and it must be his or her sole and primary residence.

We have acted in a number of these specialised purchases and would be delighted to answer any queries you may have.