If you are unable to buy a property outright on the open market, then shared ownership, run by some housing associations, may be an option for you. Shared Ownership is a part buy, part rent scheme, which enables you to buy a home in stages.
- You can buy an initial share between 25% and 75% of the value of the property
- You then pay rent on the remaining share, which remains the property of the housing association.
- The bigger the share that you purchase, the less rent you have to pay
- When you can afford to do so, you can buy more shares until you own your home outright
There are three housing associations in Dundee that run shared ownership schemes. There are relatively few homes available and you may have to wait some time before a home becomes available. For more information or to make an application you can contact the following housing association.