If you are having problems getting onto the property ladder it may be that the Scottish government’s “Golden Share” scheme could help.
The Golden Share scheme is one of a range of affordable housing schemes designed to help first time buyers who wish to own their own home but who cannot afford to pay the full price for a house.
It is part of the “shared equity” type scheme which means that the Scottish government or local authority keeps a financial stake in the property so you do not have to fund it all. You will pay for the majority share in the property and the Scottish government/local authority will hold the remaining share under a Minute of Agreement which they will enter into with you.
The sales process is similar to a standard house sale but the property price is capped at 80% of open market value for all future re-sales. A purchaser must show that he/she is eligible in order to qualify for the scheme and it must be his or her sole and primary residence.
Lindsays has acted in a number of these specialised purchases and would be delighted to answer any queries you may have.
