Guide

Shared equity for older people

Last updated: 2 November 2017

New Supply Shared Equity scheme

If you want to buy a new build home from a housing association or local council but can't afford the total cost, you might be able to get help through the New Supply Shared Equity (NSSE) scheme.

Through the NSSE scheme you'll be able to buy a new build home without having to fund its entire cost, and will receive assistance from the Scottish Government.

You'll pay for the biggest share – usually between 60% and 80% of the home's cost – and the Scottish Government will hold the remaining share under a 'shared equity agreement', which it will enter into with you.

Find out how to apply for the New Supply Shared Equity scheme.

NSSE for over-60s

Local councils and social landlords are encouraged to build housing that meets the needs of older people.

If you're aged 60 or over, you may be able to apply for a NSSE development. The minimum equity (share) of the cost you need to pay can be agreed on a case by case basis.

While others have to take out a mortgage if they're buying a house through the NSSE scheme, over-60s don't have to do this.

Instead, you can pay using just the proceeds from selling your existing home and your savings.

A recent example of this was the building of NSSE retirement homes in Paisley. Read the case study to see more about this.

Shared equity for older people
New Supply Shared Equity scheme