Eildon Housing Association - Services for Sharing Owners

SERVICES FOR OWNERS AND SHARING OWNERS
Services for Sharing Owners

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Services for Owners and Sharing Owners

How to Contact Eildon

Downloads

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Eildon Housing has approximately 220 Shared Ownership Properties situated in most of the main towns in the Borders. Shared Ownership is a form of tenure that enables people who aspire to home ownership to gradually buy a larger share of their home until they buy it outright if they wish to do so.

What is 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 occpancy 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 on each of these developments can be found in the Property Information Register on this web site by clicking to 'Our Houses'.

How to apply if you are interested

Simply complete a housing application form in the normal way and state your preference for a Shared Ownership property. Go to the 'Downloads' section on this web site for an Application Form.

What happens if I want to leave

The Association may buy back your share or you may, with the Association's agreement, sell to another sharing owner. Alternatively the property may be sold jointly on the open market.

Typical cost of Shared Ownership per month

% Ownership in Property		Rent / Service Charge		Loan		Total

25%	£150.00	£95.00	£245.00
50%	£110.00	£190.00	£300.00
75%	£70.00	£285.00	£355.00

* Based on Property Value of £60,000 and Mortgage Interest Rate of 6%

Eildon Housing Association Ltd
Eildon Tweed Valley H. A. Ltd
Eildon Enterprise Ltd
The Eildon Trust

Registered Office:
Eildon House, Dingleton Road, Melrose, Scottish Borders, Scotland. TD6 9QY.
Tel: 01896 822 121 Email: enquiries@eildon.org.uk

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