Shared Ownership
Shared Ownership is a part-rent, part-buy option. Sharing Owners have a mortgage to meet the cost of the share they own and pay a rent, known as an Occupancy Charge, on the remaining share not in ownership. Over time it is possible for Sharing Owners to increase the percentage share they own until they achieve outright ownership if they wish to become an owner-occupier.
How does it work?
Sharing Owners purchase an initial investment of 25%, 50% or 75% of the value of the property. Rent, in the form of an occupancy charge, is paid on the remaining percentage not in ownership.
Where are Eildon's Shared Ownership Properties?
Eildon has Shared Ownership properties in the following locations -
West Linton, Peebles, Galashiels, Earlston, Lauder, Newstead, Selkirk, St Boswells, Tweedbank, Broughton, Eddleston, Ancrum, Denholm, Jedburgh, Kelso, Newcastleton, Cockburnspath, Coldstream, Duns, Eyemouth.
Details of these can be found using our property map.
We are not currently building new properties for Shared Ownership. At the moment, Shared Ownership properties only become available if a Sharing Owner decides to sell their share on the open market. For details of Shared Ownership properties available for sale now, click here.