A choice of moving options to suit all


Move into a brand new home for less. Simply pick the one
that suits you best.

The Places for People Scotland new supply shared equity scheme

Imagine buying a home and not having to pay the full price. How great would that be? Well that’s exactly what our Shared Equity Scheme can offer you.

What is an Equity Loan?

Equity loans are designed to help you to keep the deposit and monthly payments on your home to a minimum. You fund between 60% and 80% of the full price of the property, made up of your deposit and a mortgage. The equity loan, which is funded by Places for People Scotland and the Scottish Government, finances the remaining percentage.

Who owns the property?

You do. You’ll own 100% of the property and there’ll be no rent to pay. 

When do I have to repay the loan?

The loan will be a set percentage of the property’s value. So when you come to sell your house in future, you’ll pay back the same percentage of the sale price.

For example, if you have a 20% equity loan on a house worth £150,000, you will have borrowed £30,000 as the equity loan and the remaining 80% will be funded by a combination of your deposit and mortgage. If your house is worth £200,000 when you sell it, you’ll pay back 20% — £40,000 — for the equity loan and your own equity will have also increased in value.

You also have the option to reduce the loan and you can do this in two stages. For instance, if your equity loan is 20%, you could pay off a first stage of 10%, which would be divided equally between the two lenders. Then the same again for the second stage, which would reduce the loan to zero. You can only make reduction payments once in any 12-month period.

What restrictions are there on the loan?

There are only a few. You’ll need to tell us about any improvements you plan to make to the property. You must not remortgage it without our permission, and you have to repay the equity loan before you can release any equity for other purposes.

Who can apply?

Anyone who’d like to buy a new home from Places for People. Loans are available subject to status, and please note that an income qualification applies — the household income must be £39,067 or less for properties within
Edinburgh. This must be the only property you own.

So how do I apply?

In the first place, talk to our sales team on . They’ll take your details and refer you to an independent mortgage broker or independent financial advisor. They’ll talk to you about the various options available and take you through the application process, so you’ll get all the help you need.