Shared Equity
Shared Equity helps people with modest incomes who want to own a suitable home but who cannot afford to pay the full price. It is aimed not just at first-time buyers but also at others whose life circumstances have changed, for example, people affected by a relationship breakdown. The scheme has been designed flexibly so that it can also be used to help disabled people and older people access more suitable housing.
You generally pay for between 60 and 80 per cent of the price of a property through a home loan or savings. The remainder is funded by an interest free loan through Ayrshire Homestake, who market the scheme on behalf of Ayrshire Housing. This is only repayable when the house is subsequently sold with any profit being split in accordance with the relative equity stakes. For example, if the Homestake loan was 20% of the original price, then Ayrshire Housing would be due to 20% of the sale proceeds.
We are not currently building any houses under this scheme. If you are interested in buying with shared equity in the future you may find our dedicated micro-site of interest.
