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Publication - Guidance

New Supply Shared Equity scheme: information leaflet

Published: 4 Apr 2014
Part of:
Housing
ISBN:
9781784123772

Information on the New Supply Shared Equity scheme (NSSE), part of the Low-cost Initiative for First Time Buyers (LIFT).

16 page PDF

348.1kB

16 page PDF

348.1kB

Contents
New Supply Shared Equity scheme: information leaflet
Post Sale Information For Shared Equity Homeowners

16 page PDF

348.1kB

Post Sale Information For Shared Equity Homeowners

Remortgaging

If you wish to remortgage your property, you must contact the Registered Social Landlord who administered the initial purchase of your property. You are advised to send a copy of your Ranking Agreement to the Registered Social Landlord.

You will be responsible for meeting all costs (including those incurred by the registered social landlord and Scottish Ministers) when remortgaging your property. The Registered Social Landlord will provide you with information on what these costs will be.

Adding or removing a person to your shared equity documentation

You may wish to add a person who will assume liability under the shared equity documentation. Alternatively, you may seek to remove a person from any liability under the shared equity documentation. In either case, you should obtain the agreement of your primary lender in the first instance before contacting the registered social landlord who administered your New Supply Shared Equity Scheme transaction.

You will be responsible for meeting all costs (including those incurred by the registered social landlord and Scottish Ministers) when adding or removing a person to your shared equity documentation. The Registered Social Landlord will provide you with information on what these costs will be.

Contact from registered social landlord

On or around the fifth, tenth, and fifteenth anniversary of the settlement of a shared equity transaction, a registered social landlord will send you a copy letter to you to remind you that you are able to purchase additional equity.


Contact

Email: ceu@gov.scot