Development At Anderson Court, Carnoustie
The New Supply Shared Equity (NSSE) scheme allows you to buy a new build home without having to fund the entire cost, receiving assistance via Scottish Government grants available to Caledonia House Association.
How does it work?
Caledonia Housing Association is a Registered Social Landlord. They receive Scottish Government grants which go towards the cost of the property you buy from them.
The NSSE scheme requires buyers to purchase a minimum of 60% of the property, and up to a maximum of 80%, depending on your income and the level of mortgage you can secure.
The Scottish Government would retain the remaining 20-40% stake under a 'shared equity agreement'. The Scottish Government's stake is in the form of an interest-free loan, and no rent is applicable on the stake.
It also means if you ever choose to sell your home the Scottish Government will get a share of the sale proceeds.
What I need to know?
Homes available from Caledonia Housing Association via the NSSE project are a mix of sizes, designed for a range of housing needs in a range of locations.
You will not be permitted to buy a home which has more than two extra bed spaces above the needs of your family.
Your Shared Equity home must be your sole residence. As the outright owner you are responsible for all of your home's running costs, including maintenance, insurance, repairs, service charges and council tax. These costs should be taken into consideration when deciding if you can afford to purchase the property.