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SHARED OWNERSHIP
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NOMINATION RESALE09 Sep 2010
Families Go Back To School – To Live27 Aug 2010
Affordable Homes for the Heart of The Highlands27 Aug 2010
Albyn backs local scheme to boost IT training20 Aug 2010
Four Hundred Affordable Homes Secured for Highlands18 Aug 2010
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Low Cost Home Ownership Options
last updated
26/11/2009 16:07
Lift New Supply
Lift is a shared equity scheme aimed at lower income households including: first time buyers, Housing Association tenants and Council tenants. The initiative enables them to purchase between 60% and 80% of a new property provided by a Registered Social Landlord.
The Registered Social Landlord funds part of the price of the property and the buyer funds the rest.
If you can afford a 75% share of a property, the registered Social Landlord will retain the remaining 25%. You will own the property outright and will have a 75% stake in its value, whatever changes there are to the property’s value over time.
You will pay for your share of the purchase price, along with the legal costs, survey fees and any other cost associated with the purchase. You do not pay any form of rent to the Registered Social Landlord.
Lift off the Shelf
The LIFT Open Market scheme has proved to be extremely popular and successful in this area. There has been a very high level of demand from applicants. Despite the substantial resources invested by the Scottish Government in the scheme, the available funding for this area has been allocated for this financial year. No further application forms are therefore being issued at this time.
This pilot enables lower income households to purchase a property available on the open market. Maximum prices for different house sizes have been set by the Scottish Government – limiting the type of property you can buy in terms of value and size according to need. As with the new supply Lift you take out a mortgage to the maximum level you can afford, but in this case the Scottish Government retains the remaining equity. This initiative is particularly looking to help existing Council or Housing Association tenants and first time buyers; however, there is some scope to help the wider community.
If you would like further information on either of these two initiatives, please contact Samantha Cribb on telephone: 01463 259894 or Toni Magee on telephone: 01463 259895. Alternatively, please email: info@albyn-enterprises.co.uk
contact us
t 01349 852978
e send email
98-100 High Street,
Invergordon, Ross-shire IV18 0DL
tel 01349 852978 | fax 01349 853859 | email office@albynhousing.org.uk
A Scottish Charity: SC027123 | Register of Scottish Landlords: 64 | Register of Friendly Societies: 1776R (S)
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