New home purchase grants

Shared ownership

Shared ownership is where householders buy part-ownership of a property and make an occupancy payment to a registered social landlord on the remaining portion.

GRO grants

These are grants to private developers to build houses for sale. They are used both to introduce housing for sale in areas with little or no private housing and to help meet local shortages.

Low-cost initiative for first time buyers: new supply shared equity and open market shared equity 

What is new supply shared equity and how does it operate?

The New Supply Shared Equity scheme aims to help people on low incomes who wish to own their own home but who cannot afford to pay the full price for a house. It is part of the range of assistance from the Scottish Government under LIFT, the Low-cost Initiative for First-Time Buyers.

New Supply Shared Equity is administered by the Scottish Government, the City of Edinburgh Council and Glasgow City Council.

The Scottish Government gives grants to Registered Social Landlords (RSLs) - normally a housing association or housing co-operative - to help them build or buy new homes specifically for New Supply Shared Equity. The homes that are provided are a variety of sizes and are designed to meet a range of housing needs.

RSLs offer New Supply Shared Equity properties for sale on a 'shared equity' basis. Shared equity means that the Scottish Government will keep a financial stake in the property so you do not have to fund all of it. You will pay for the majority share in the property, normally between 60 and 80 per cent, and the Scottish Government will hold the remaining share under a shared equity agreement which they will enter into with you. You will own the property outright but the interests of Scottish Government will be secured by a mortgage or standard security as it is known in Scotland on your property.

You will have to appoint a solicitor to act on your behalf to complete the work involved in buying a home. A solicitor acting on behalf of the Scottish Government will deal with the Scottish Government's interest in the purchase.

You will pay for your share of the purchase price in the usual way, along with legal costs, survey fees and any other costs associated with the purchase. You will also pay for the documenting and securing of Scottish Government's interest including all registration dues and,  if applicable, stamp duty. You do not pay any form of rent on the property.

How do I find out more?

New Supply Shared Equity projects are developed and promoted by RSLs and may be advertised through a variety of local and national media and the internet. The best place to find information on New Supply Shared Equity will be from the RSLs in your area.

You will find some more general information about the schemes above by going to to LIFT page which is listed under the external links section. 

Contact Information

Housing Options
Civic Centre North
John Dickie Street
Kilmarnock
KA1 1HY
Telephone: 01563 554554
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