Holyrood picks developers for shared equity scheme
By Jamie Carpenter Tuesday, 09 March 2010
Seven developers including Persimmon and Taylor Wimpey have been picked by the Scottish Government to take part in a pilot scheme to offer unsold or partially built homes to first time buyers.
Under the scheme, participating developers will take equity stakes in the homes with the Scottish Government. Buyers will pay 60 to 80 per cent of the purchase price, with the remainder of the cost split equally between the Scottish Government and the developer.
The £2.5 million New Supply Shared Equity with Developers scheme is intended to allow an extra 100 first time buyers to buy a new shared equity home. Homes available through the trial will be marketed by the developers.
The participating developers are:
- Persimmon Homes
- Bellway Homes
- Cruden Homes
- Parc Craigmillar
- Bett Homes
- Highland Housing Alliance
- Taylor Wimpey
Scotland’s housing minister Alex Neil said: "I am pleased that some of the key players from Scotland’s housebuilding industry have embraced this new trial."
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