Imagine buying a home and not having to pay the full price. How great would that be? Well that’s exactly what our Shared Equity Scheme can offer you.

Equity loans are designed to help you to keep the deposit and monthly payments on your home to a minimum. You fund between 60% and 80% of the full price of the property made up of your deposit and a mortgage.  

You’ll own 100% of the property and there’ll be no rent to pay.

Example:

Purchase price £200,000 with a 20% equity loan
You will have borrowed £40,000 as the equity loan and the remaining 80% will be funded by a combination of your deposit and mortgage.

Resale price £220,000
You’ll pay back 20% of the current market value eg £44,000. Your own equity will have also increased in value.

Find out more

Speak to the sales team at the development you are interested in to find out if they have shared equity properties available.

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Buying options

Shared equity FAQs

The equity loan is provided by Places for People Scotland and the Scottish Government.

You do. You’ll own 100% of the property and there’ll be no rent to pay. 

The loan will be a set percentage of the property’s value. So when you come to sell your house in future, you’ll pay back the same percentage of the sale price.

For example, if you have a 20% equity loan on a house worth £200,000, you will have borrowed £40,000 as the equity loan and the remaining 80% will be funded by a combination of your deposit and mortgage.

When you sell your house you will pay back the equity loan.  If your house is worth £220,000 when you sell it you’ll pay back 20% of the current market value eg £44,000.  Your own equity will have also increased in value.

You have the option to reduce the loan and you can do this in two stages. For instance, if your equity loan is 20%, you could pay off a first stage of 10%, which would be divided equally between the two lenders. Then the same again for the second stage, which would reduce the loan to zero.

You can only make reduction payments once in any 12-month period.

There are only a few. You must not own any other properties and this property must be your principle residence.  You are not allowed to rent out the property or take in a lodger. You must not re-mortgage without our permission, and you have to repay the equity loan before you can release any equity for other purposes.

In the first place, talk to our sales team. They’ll take your details and refer you to an independent mortgage broker or independent financial advisor, who’ll talk to you about the various options available and take you through the application process. So you’ll get all the help you need.

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From Inverness to Truro, with ZeroC you can be sure of the right home in the right place.