New Supply Shared Equity
Servite has agreed to be involved in the Scottish Executive's New Supply Shared Equity scheme which assists people on low incomes who wish to own a home but cannot afford to pay the full price for a house.
Servite can offer new properties for sale on a 'shared equity' basis. Shared equity means that we will keep a financial stake in the property so that you do not have to buy it all.
When you purchase a New Supply Shared Equity property you will pay for the majority share, normally between 51-80% of the purchase price, Servite will fund the remaining share. You will own the property outright but will only have to arrange a mortgage to cover your share.
New Supply Shared Equity is, in the main, aimed at first time buyers and people with a limited income.
Our homes
Our New Supply Shared Equity housing units are self-contained flats, cottages and houses. They have a number of bedrooms, a living room, separate kitchen and bathroom. All benefit from full central heating, double glazing and good insulation.
Communal facilities
Some New Supply Shared Equity housing (particularly flats), have communal facilities, such as grounds, gardens and common parts, like stairwells and corridors. These may be monitored and maintained by Servite.
Support services
Where a maintenance agreement is in place, New Supply Shared Equity residents will pay a small monthly charge to cover the costs of this service.
3 Way Equity
Servite Housing Association proposes a 3 way Shared Equity Scheme to be incorporated into the Scottish Government's LIFT Shared Equity Scheme.
For more information, please refer to the documents linked below:
Mutual Home Ownership Document
You can also find information at these other websites:
Institute for Community Economics
National Community Land Trust Network
