Housing Options Guide-4a
Shared ownership is a scheme where you part-buy and part-rent a property from a housing association (Registered Social Landlord).
There are 21 shared ownership properties in Moray. Grampian Housing Association has a total of eight shared ownership properties in Elgin, Forres and Lossiemouth. Hanover has six shared ownership properties in Elgin. Next Step Homes (part of the Langstane Group) have a total of seven shared ownership properties in Elgin and Keith.
These properties are normally built by the association specifically to help you get onto the home owner property ladder.
You must purchase at least 25% of the property and no more than 75% of the property to being. After the first year, you then have the option to buy more of a share up to 100%. This reduces the rent/occupancy payment for the share you do not own.
The housing association will assess your financial circumstances e.g. income, savings and your ability to secure a mortgage.
More information on shared ownership can be found by contacting: