These Homes North East Scotland

Other Housing Options

Mid Market Rent

This type of property is normally managed by a Registered Social Landlord (RSL). To qualify prospective tenants must meet certain qualifying criteria, which may include restrictions on income level. Each RSL will have its own policy regarding how allocations are made.

These properties are becoming more widely available and new developments are often advertised in the local press. RSLs currently managing this type of property are:

Shared Ownership

What is shared ownership?

Shared ownership schemes aim to help people who are otherwise unable to buy a suitable home to become homeowners. Through a shared ownership scheme, you can buy a 25 per cent, 50 per cent or 75 per cent share in a house or flat owned by the housing association.

You'll then pay a reduced 'rent', called an occupancy payment, for the part of the home that you don't own. The total monthly cost of your mortgage repayments and occupancy payment should come to less than the repayments on a mortgage for the whole property.

Who can apply for shared ownership?

Different housing associations have different application criteria and priorities when allocating properties. For example, some housing associations may only offer shared ownership properties to families or disabled people. Before you apply to a housing association for a shared ownership property, make sure you understand how their system works.

Financial criteria - in order to qualify to buy a shared ownership property, you must be able to afford at least a 25 per cent share of the home. The housing association will need to be satisfied that you can keep up the mortgage and occupancy payments, as well as the other housing costs involved, such as council tax, factoring and service charges and household bills. Some housing associations will only accept you if you earn above a certain income level. However, if you can afford to buy a home outright, you won't be eligible for a shared ownership scheme.

Castlehill Housing Association has shared ownership properties which are available to those over 55 or with a medical need.