Columba Court, Lochyside - Lochaber Housing Association

Columba Court 

Lochyside 

101 High Street 

Fort William 

PH33 6DG 

Telephone 01397 702530 

e-mail: LCHO@lochaberhousing.org.uk 

Shared Equity Houses for Sale 

Information and Initial Application Form

Site Plan - Columba Court, Lochyside 

Situated between Riverside Park 

and Castle Drive, Lochyside, 

Fort William

What is LIFT New Supply Shared Equity (NSSE)? 

LIFT New Supply Shared Equity is a Scottish Government initiative aimed at 

making owner occupation more affordable to first-time buyers with a priority 

been given to defined groups such as people living in social housing and 

people in the Armed Forces or veterans, widows, widowers and other 

partners of service personnel. 

Shared equity means that the Scottish Government will keep a financial 

stake in the property so you do not have to fund all of it. You will pay for the 

majority share in the property and the Scottish Government will hold the 

remaining share under a shared equity agreement which they will enter into 

with you. You will own the property outright but the interests of Scottish 

Government will be secured by a mortgage (or standard security as it is 

known in Scotland) on your property. 

Shared Equity owners have full title to their property. Unlike shared 

ownership, no occupancy charge is paid to the Housing Association. 

When the property is sold on, all receipts are split between the owner and the 

Scottish Government in proportion to the equity shares. If, for example, you 

own a 65% equity share, when you sell on you will get 65% of the selling 

price. The minimum equity share you can buy is 60% and the maximum is 

80% of the property’s value. The Scottish Government will always retain a 

minimum 20% equity share. 

Lochaber Housing Association completed the building of 5 houses at the end 

of April 2012 for sale under this scheme as part of our new development at 

Columba Court, Lochyside. 

The houses are now ready for occupation. They have been valued between 

£150,000 and £165,000 therefore a minimum 60% equity share is £90,000 

on the lowest priced property and a maximum 80% share on the highest 

priced property is £132,000. The amount of equity share you can buy will 

depend on your household income, outgoings and savings. 

The shared equity houses at Columba Court are situated between Riverside 

Park and Castle Drive and are located off Riverside Grove. 

There are 1 * single-storey 2-bedroom, 3 * 2-storey 2-bedroom and 1 * 2storey 

3-bedroom houses for sale. 

Where the house does not have an allocated parking space; there will be car 

parking spaces in the development available to residents on a first come first 

served basis.

Key points to consider: 

• You can apply to buy a property which is up to 2 bed spaces more than your 

current needs. 

` 

• You will buy full title to the property purchased and do not pay any form of 

occupancy charge/rent to the Housing Association. 

• You must pay for your share of the purchase, usually by obtaining a mortgage, as 

well as all costs associated with house purchase including your legal costs, stamp 

duty where applicable, and survey fees. You will also pay for the documenting and 

securing of the Scottish Government’s interest including all registration dues and (if 

applicable) stamp duty. 

• You will be responsible for all the costs of ownership of the property such as 

maintenance, repairs, building insurance, service charges, factoring costs and 

utility bills, as well as making mortgage repayments and paying Council Tax. You 

will need to take these costs into account when assessing whether you can afford to 

buy a property. There will be a factoring charge payable to the Association, full 

details of which will be provided at time of viewing. 

• You are responsible for keeping the property in a good state of repair. 

• You must occupy the property as your only home. Subletting is allowed only with 

prior written consent from the Scottish Government, and for a short period of time. 

• You are expected to buy a 60-80% equity share in the price of the property. You 

must purchase the maximum equity share you can reasonably afford. A form of 

‘means testing’ will be taken to ascertain affordability 

• You can increase your equity share, up to the maximum 80%, after two years. The 

property will be surveyed by a professional surveyor and the value may have 

increased or decreased in this time. 

• The Scottish Government will retain a minimum 20% equity share. 

• The Shared Equity Agreement that you enter into with the Scottish Ministers is 

initially for a 19 year period although you will have the opportunity to extend 

provided certain technical legal issues can satisfactorily be overcome. 

• If you are offered a property you should seek independent financial and legal 

advice on the LIFT NSSE scheme and the responsibilities that come with being a 

home owner.

Location: 

2 Columba Court 


Fort William 

PH33 7QA 

Located between Riverside 

Park and Castle Drive. 

Accommodation: 

Living room 

Hall and hall storage 

Kitchen 

Bathroom 

1 double bedroom 

1 single bedroom 

Specification: 

Highly insulated 

High performance double 

glazing and external doors 

Mitsibushi air-to-air 

conditioner/heating/filter 

system 

Fitted kitchen 

Fitted wardrobe 

Valuation: 

£157,000

Location: 



Fort William 

PH33 7QA 




Living room 

Hall and hall storage 

Kitchen 

Bathroom 









system 



Valuation: 

£157,000

Location: 



Fort William 

PH33 7QA 




Living room 

Kitchen 

Downstairs toilet 



Bathroom 







system 



Valuation: 

£150,000

Location: 



Fort William 

PH33 7QA 




Living room 

Kitchen 




Bathroom 







system 


Fitted wardrobes 

Valuation: 

£150,000

Location: 



Fort William 

PH33 7QA 




Living room 

Kitchen 




Bathroom 







system 



Valuation: 

£150,000

Location: 



Fort William 

PH33 7QA 




Living room 

Kitchen 




Bathroom 







system 



Valuation: 

£150,000

Location: 



Fort William 

PH33 7QA 




Living room 

Kitchen 




Bathroom 







system 



Valuation: 

£152,000

Location: 



Fort William 

PH33 7QA 




Living room 

Kitchen 




Bathroom 







system 



Valuation: 

£152,000

Location: 



Fort William 

PH33 7QA 




Living/dining room 

Kitchen 



2 single bedrooms 

Bathroom 







system 



Valuation: 

£165,000

Location: 



Fort William 

PH33 7QA 




Living/dining room 

Kitchen 



2 single bedrooms 

Bathroom 







system 



Valuation: 

£165,000

101 High Street 

Fort William 

PH33 6DG 

Telephone 01397 702530 e-mail: LCHO@lochaberhousing.org.uk 

Applicant(s) Full Name(s) 1 

Current Address 

Telephone Number(s) 

E-mail 

SHARED EQUITY INITIAL ASSESSMENT 

2 

Are you a UK National YES NO 

If NO do you have a right to permanent residency in the UK YES NO 

Current Accommodation (Please tick) 

Home Owner Sharing Owner Council Tenant Housing Association Tenant 

Private Tenant Lodger Living with parents/relatives 

Tied Accommodation Other 

Are you registered for housing with the Highland Housing Register? Please tick YES NO 

Qualifying Criteria (Please tick all relevant boxes) 

You are a first time buyer 

You are a Local authority or Housing Association tenant 

You are serving in the Armed Forces or have left the Armed Forces within the last year 

You are a widow, widower or other partner of a member of the Armed Services who was 

killed in action within the last year 

You have particular needs and your property is unsuitable or you are unable to purchase 

a suitable property for your needs. 

You are an existing or previous home owner who is unable to sustain or move back 

Into home ownership due to significant changes in your household circumstances 

You have lived in the area 6 months or more 

DATA PROTECTION ACT 1998 

The information you provide on this form will only be 

used for purposes in connection with considering 

your application. By signing this form, you agree to 

your personal information being used for these 

purposes. 

All information you provide will be held in secure 

manual and computerised files. You may ask to see 

a copy of the information about you and your 

application held in these files. 

Registered Social Landlord No 151 and having Charitable Status SC030951 

Registered as an Industrial and Provident Society Reg. No 2289 R (S) Consumer Credit License 625546/1

Details of Household Members 

NAME SEX DATE OF BIRTH RELATIONSHIP 

INCOME DETAILS PER ANNUM Applicant 1 Applicant 2 

Gross Income £ 

Any other income £ 

TOTAL income £ 

TOTAL SAVINGS/CAPITAL £ 

LOANS/CREDIT CARD REGULAR REPAYMENTS PER ANNUM 

TOTAL £ 

Are you or anyone of your household a member or related to a member of staff or committee of the 

Association? Please tick YES NO 

If yes please give details. 

Signed 1 ……………………………………………..………… 2 ………………………………………………………….. 

Date ………………………………….. 

IMPORTANT 

Please note that this form does not constitute an offer of a property – it is only the first stage in the 

LIFT process to establish if the applicant(s) qualify for the next stage. 

Any Further Comments: (Please use this box to provide any further relevant information regarding your 

living circumstances, qualifying criteria, or income) 

Please state Development you are interested in 

Where did you hear about Shared Equity properties? Please tick 

LHA Leaflet 

Highland Council Notice 

Board 

Work Newsletter Received in 

post 

LHA Website Other Website 

Newspaper Advert Lochaber Life Site Sign 

Board 

Other – Please state 

Open Day Received other

Your home 

Your home is at risk if you do not keep up repayments on a mortgage or 

other loan secured on it. Mortgage availability is subject to appraisal of 

financial standing. The information in this leaflet is not Sales Particulars 

and whilst the information contained or referred to in this pack is believed 

to be correct, it is not guaranteed and cannot be relied upon by anyone. 

This leaflet is not to be incorporated into any future formal missives of 

sale/purchase to follow hereon. It is a guidance only for people interested 

in looking at a Shared Equity purchase. Any measurements and/or 

conversions are approximations only and are not to be founded upon. 

Drawings are indicative only, are not to be relied upon and will not 

necessarily represent what will be built. The Association can accept no 

liability for anything contained herein and would urge applicants to take 

the advice of their own solicitor before entering into any formal agreement 

to purchase.

Columba Court, Lochyside - Lochaber Housing Association

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