Scheme to offer helping hand for people struggling to get on housing ladder
Andrew Hirst
People struggling to get on the housing ladder could get a helping hand when a new scheme opens up later this month.
Hjaltland Housing Association’s Upper Scalloway development will include six units for sale and 26 for social rent.
The new units for sale at Berryview will be available through a Scottish government shared equity scheme to help people who would otherwise struggle to buy their own home.
Successful applicants may only need to fund 60 per cent of the property’s valuation, with the government covering the remainder through a shared equity agreement.
Hjaltland’s head of housing Ian Bray said: “The buoyancy of the local property market is well documented, proving a step too far for many members within our community.
“In particular, we hear on a daily basis of the struggle for first time buyers, and we are therefore excited to be able to facilitate this support for aspiring homeowners.
“This project will offer an alternative housing option for those on a low to medium income who may traditionally struggle to secure a mortgage and compete on the open market.”
The properties include four one-bedroom flats – valued at £140,000 but available from £86,000 – and two two-bedroom houses – valued at £160,000 but available from £96,000.
Viewings will be held on 23rd February after which applications can be submitted until 10th March.
The scheme is open to first-time buyers and other priority groups, including disabled people and members of the armed forces.
Successful applicants will also be able to increase their ownership share in five per cent increments.
When selling the property, they will be entitled to whatever share they own, with the government receiving the remainder.
The social housing is set to be advertised this summer.
Hjaltland is also working on affordable housing projects in Brae, Aith and will soon start on another in Walls.
Call 01595 694986 to book an appointment.
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