Renfrewshire Council

New Supply Shared Equity (Low Cost Home Ownership)

The New Supply Shared Equity (NSSE) scheme can help low to moderate income households buy a new build home developed as part of the Scottish Government's Affordable Housing Supply Programme as part of the Council's Strategic Housing Investment Programme (SHIP).

As part of the SHIP, a proportion of homes may be offered for sale on a shared equity basis on larger affordable housing sites although the majority of affordable homes generally will be made available for social rent.

Under this scheme, any potential buyer would purchase a majority stake in an available affordable new build homes (normally 60% to 80% of the full purchase price) with the remaining share paid through grant from the Scottish Government. The purchaser does not pay any rent on the share of the property they do not own.

In most instances, buyers can increase their share of the property over time to own a larger share of the property. However in certain circumstances, the government will retain a 'golden share' to ensure than the property remains in the affordable housing sector in the future.

At present, new supply shared equity homes are available on the following developments in Renfrewshire :

  • Love Street, Paisley - Sanctuary Scotland are developing 29 new two and three bedroom houses for new supply share equity low cost home ownership. Prices currently start at £75,000 with further information available from Sanctuary Scotland by calling 0800 916 1444.  

 

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