Columba Court, Lochyside - Lochaber Housing Association

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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.
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Columba Court, Lochyside - Lochaber Housing Association

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