There are a number of Shared Equity Schemes to assist people to purchase a property.
Sharing Ownership is a way of helping people who wish to own their own home, but cannot afford to purchase one on the open market.
Shared Ownership is a low cost home ownership option which allows you to own part of your home and pay a charge on the other part, which is owned by the Association.
With Shared Ownership you can choose a level of investment which suits your budget – 25%, 50% or 75% of the property’s value – and you can increase your share of ownership when your personal or financial circumstances allow, though you don’t have to. If you wish to become a sharing owner you’ll probably need to take out a mortgage to meet the cost of the share you’d like to buy. You will also pay a monthly charge to Hjaltland based on the remaining share not in your ownership.
As a Sharing Owner you will be responsible for all repairs to your property.
We have 57 sharing owners living in Lerwick, Scalloway, Whalsay and Tingwall.
You might be able to buy an existing share in a shared ownership property if the present sharing owner wants to move. We advertise these opportunities on our property page on this website and in the Shetland Times.
If you would like to know more, you can download our leaflet about shared ownership.