Shared Equity
Homestake - Scotland Only
This scheme was introduced by the Scottish Executive in September 2005 to assist people in housing need. It enables people to buy a property on the open market with the help of an equity loan provided by the Government. Your client secures an equity share of between 50% & 80% and the Scottish Executive funds/takes an equity share to assist the purchase.
The Scottish Executive's equity share is protected by a ranking agreement and is usually in the form of an interest free, payment free loan that becomes repayable on resale, together with a share of any increase in the value of the property. The schemes are operated by a Registered Social Landlord (usually a Housing Association). Any applications should be processed in line with existing Shared Equity scheme procedures.
For further information on processing Homestake applications or any other Shared Equity schemes please contact your local processing centre.
