Hebridean Housing Partnership is expanding its Shared Equity Scheme to rural sites across the Outer Hebrides with the support of the Scottish Government.
Sites are currently being identified to expand the New Supply Shared Equity Scheme and are currently hoped to include Breasclete, Balivanich and Horgabost with others to follow.
Previous new developments at Manor Drive, Ardanmhor Court, Mackenzie Park and Memorial View have helped over 50 households purchase a new home.
Norman Macleod, who chairs HHP’s Board said “This is an exciting opportunity for HHP to build affordable homes in areas across the Outer Hebrides that have limited options for households on a low to moderate income.
“We are also very pleased by the Scottish Government expansion of Shared Equity for those over 60” In 2017 the Scottish Government announced that they were opening up the scheme to give better access to affordable housing for those over 60.
If you're aged 60 or over, you may be able to apply for one of the shared equity properties HHP are building.
The minimum equity (share) of the cost you need to pay can be agreed on a case by case basis. You can pay using just the proceeds from selling your existing home and your savings. There is no requirement for those over 60 to take out a mortgage.
How it Works
The New Supply Shared Equity scheme is designed to help people who, without assistance from the scheme, would be unable to buy a new build house that suits their needs. It is available to first time buyers and priority will be given to:
- people aged over 60
- social renters (people who rent from a council or a housing association)
- disabled people
- members of the armed forces
- veterans who have left the armed forces within the past two years
- widows, widowers and other partners of service personnel for up to two years after their partner lost their life while serving
The NSSE scheme is also available to people who have previously owned a home and have experienced a significant change in circumstances – for example, a marital breakdown.
If you are interested in this scheme, please contact Tighean Innse Gall on 01851 706121.