Improvements to shared equity housing scheme

Veterans and disabled people among those to benefit from the scheme

Changes to the Scottish Government’s open market shared equity scheme will mean disabled people, first-time buyers and others on low to medium incomes will have an increased opportunity to buy a home that meets their needs.

Now, the threshold of the Open Market Shared Equity Scheme (OMSE scheme)– which allows people to buy a home without having to fund its entire cost – has been raised by 9% across the country to reflect rising house prices. The scheme is aimed at priority groups who need support to buy their own home.

The OMSE scheme is available across Scotland. It’s open to first-time buyers and these priority access groups:

· people aged 60 and over

· social renters (people who rent from the 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 has lost their life while serving.

Applicants will also be able to make offers on properties above the formal valuation amount, where they have funds available. People who have an application in progress do not need to reapply to benefit from the changes.

For more information see the Government website.

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Affordable Housing for Sale – Shared Equity Scheme at Sunnyside Estate, Montrose

If you want to own your own home, here’s an opportunity that might interest you.

20 Adam Christie Avenue, Hillside, Montrose, DD10 9GE

We have one three-bedroom Tiree style house available to buy under the Scottish Government’s New Supply Shared Equity Scheme constructed in the former Sunnyside Royal Hospital and its grounds.

The minimum amount you would need a deposit and mortgage for is £129,600 (60% equity share)

Qualifying criteria

• First time buyer, unless you are an older person (over 60) downsizing or you have experienced a significant change of circumstances e.g., relationship breakdown.
• Earning no more than £29,799 per annum (single income) and £44,146 per annum (joint income)
• Resident in Angus

You can normally only purchase a property one bedroom size larger than you need. This property has 3 bedrooms so we would look for applicants to need 2 or 3 bedrooms.

For more information and to apply please visit our Housing Developments website

Affordable Housing for Sale – Shared Equity Scheme at Sunnyside Estate, Montrose

We’re now accepting applications for our Shared Equity Scheme at Sunnyside Estate, Montrose.

To qualify, you would need a deposit and mortgage for at least 60% equity share advertised at £132,000.

We have 2 three-bedroom houses (Tiree style) to buy under the Scottish Government’s New Supply Shared Equity Scheme in the former Sunnyside Royal Hospital and its grounds:

• Three-bedroom house
• Three-bedroom house

The Tiree specification Download

More details on the specification of the properties can be found on the Sunnyside Estate website.

Please note that any incentives listed on the Sunnyside webpage are not available in conjunction with the purchase of a shared-equity home.

How to apply

For further updates check our Developments Website.

If you are interested in this scheme, we advise you to seek independent financial advice about gaining a mortgage promptly, as this will be a requirement of the scheme. Further requirements of the scheme can be found on the Scottish Government website and we would advise familiarising yourself before contacting us.

Qualifying criteria

• First time buyer, unless you are an older person (over 60) downsizing or you have experienced a significant change of circumstances e.g relationship breakdown.
• Earning no more than £29,799 per annum (single income) and £44,146 per annum (joint income)
• Resident in Angus
• You can normally only purchase a property one apartment size larger than you need (These properties are three-bedroomed so we would look for applicants to need two or three bedrooms)

For further information please contact: affordablehousingteam@angus.gov.uk

High Quality Affordable Homes Snapped Up at the Grange, Monifieth

Our scheme aimed at supporting first time home buyers has proved to be extremely popular, with every property at The Grange in Monifieth sold.

This exciting shared equity project promotes low-cost home ownership and has seen 22 family homes snapped up by qualifying households at discounted rates.

The new residents bought a 60-80% initial stake in their properties, with the option to buy their homes outright in the future. It is a project that mirrors the Scottish Government’s New Supply Shared Equity Scheme.

Our Communities Convener, Cllr Mark Salmond, said “I am really pleased that we are delivering a range of different affordable housing options across Angus, from new-build social rented housing, to shared equity.

“It demonstrates we are serious about providing more choice for our residents when it comes to getting good quality housing that they can afford – not just in terms of the advice we give, but in presenting them with real bricks and mortar options and places they would like to live and be proud to call home.”

Low-cost home ownership is a crucial component of the delivery of affordable housing in Angus. This scheme has helped those on modest incomes into home ownership in Monifieth – a high demand area where many residents are squeezed out by high market values.

The scheme was aimed at first time buyers, although other priority groups, such as older people and disabled households were also eligible. By providing high quality, new build properties for low-cost home ownership, the Council can reduce waiting lists with housing for those seeking greater security than they would have by renting privately.

The mix of two and three bedroom properties were built by Taylor Wimpey to realise the affordable housing contribution on their site at Victoria Grange, Monifieth.

As agent for the scheme, Thorntons’ new build team, managed applications.

Peter Ryder, Managing Director from Thorntons Property said: “This Development in Monifieth proved exceptionally popular and highlighted the high demand for this type of scheme, which helps buyers get on to the property market. The build quality was of a high standard and the feedback we received from clients after they moved into the properties was extremely positive. It is great to see Angus Council being so proactive and helping local residents with their housing needs.”   

Some pictures of The Grange houses:

Affordable Housing for Sale – Shared Equity at Sunnyside Estate, Hillside, by Montrose

If you want to own your own home, but are on a low income, here’s an opportunity that might interest you.

We have 2 three-bedroom houses (Tiree style) to buy under the Scottish Government’s New Supply Shared Equity Scheme constructed in the former Sunnyside Royal Hospital and its grounds. More details about the properties can be found on the Sunnyside Estate website.

The Tiree specificationDownload

Please note that any incentives listed on the Sunnyside webpage are not available with the purchase of a shared-equity home.

The Scottish Government New Supply Shared Equity (NSSE) scheme is a form of affordable home ownership for people on modest incomes.  The owner purchases 60-80% of the value of the property with the Scottish Government providing the equity stake for the remainder.

How to apply

We do not take applications for this scheme yet, but we expect to open the scheme in January 2022. For further updates check the Angus Council Developments Website. We’ll also post information here when the scheme opens.

If you are interested in this scheme, please seek independent financial advice about getting a mortgage, as this will be a requirement of the scheme. Further requirements of the scheme can be found on the Scottish Government website and we would advise familiarising yourself before contacting us.

Qualifying criteria

• First time buyer, unless you are an older person (over 60) downsizing or you have experienced a significant change of circumstances such as relationship breakdown.
• Earning no more than £29,799 per annum (single income) and £44,146 per annum (joint income)
• Resident in Angus, employed in Angus, or with local connection to Angus

For further information please contact: affordablehousingteam@angus.gov.uk

More affordable homes for Monifieth

In the latest part of our determination to make the local housing market as accessible as possible for home seekers, 22 affordable homes will be built at Victoria Grange in Monifieth.

Taylor Wimpey East Scotland is building 12 two-bedroomed homes and 10 three-bedroomed homes in partnership with us as part of our new supply shared equity scheme. Work is expected to complete in summer 2021.

The 22 homes form the final tranche of affordable housing on the development, which includes a range of two-bedroomed mid-terrace and semi-detached houses, as well as three-bedroomed terraced and semi-detached homes across four locations, including three Angus Housing Association sites. This exciting development will form an integral part of the new neighbourhood at Victoria Grange in Monifieth.

Taylor Wimpey has designed and created an affordable housing range that has allowed its team to work closely with us and our Housing Association partners to create affordable homes with a mix of tenures. On completion, this project will have delivered 84 affordable homes for Angus residents.

Our Communities Convener, Cllr Mark Salmond said: “We are delighted to be delivering new properties in partnership with Taylor Wimpey that will be made available through Angus Council’s new supply shared equity scheme in the summer of 2021.

“Low Cost Home Ownership is a crucial component in our commitment to increase the supply of affordable housing in Angus and will supplement the social housing already delivered on this site. We will help to sustain our local communities by providing a range of routes into home ownership for those people on more modest incomes.”

Pauline Mills, Land and Planning Director for Taylor Wimpey East Scotland, said: “Reaching the conclusion of this agreement for Victoria Grange marks another milestone on the journey towards completing the new community that’s growing at this established development in Monifieth.

“We’ll continue to work closely with Angus Council in order to complete the final 22 affordable homes by summer next year, in turn allowing the local community to reap the benefits of our long-term investment in the area.”

Applications for this scheme are not being accepted yet but should be in early 2021, with the properties due for completion by around August 2021 (subject to delay).

Further information, including how to apply, will follow in due course. Please go to the Monifieth, The Grange dedicated pages on our website for more information and qualifying criteria or email grange@angus.gov.uk.

Affordable housing For Sale – Shared Equity in Arbroath

Caledonia Housing Association has 14 properties for sale on the Shared Equity scheme at Monarch’s Rise in Arbroath. There are 4 two-bedroom properties, 8 three-bedroom, and 2 four-bedroom properties at the Stewart Milne Homes Development in Arbroath.

If you want to own your own home, but are on a low income, this is an opportunity that might interest you. The New Supply Shared Equity (NSSE) scheme gives the opportunity to buy a new-build home without having to fund the entire cost, receiving help from Scottish Government grants.

You can get further information about the properties with details of the Scottish Government’s Shared Equity scheme, or if you want to check if you can apply, visit Caledonia Housing Association’s website.

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