Not everyone will be able to buy a property without some form of assistance or support. There are several options available if you are interested in buying property at a reduced cost.
Help to buy
There are a range of help to buy schemes for people who can afford a mortgage but don't have a large deposit.
Low cost home ownership
You can buy a new property at a reduced cost if you are a first time buyer unable to purchase on the open market. Developers provide low cost homes at some new developments in Aberdeen.
New Supply Shared Equity
Under the New Supply Shared Equity scheme, the Scottish Government will keep a financial stake in the property so you do not have to fund all of it. You will pay for a majority share of the home (usually between 60 and 80%) and the Scottish Government will buy the remaining share through a registered social landlord.
Open Market Shared Equity
Under the Open Market Shared Equity scheme you can buy homes that are for sale on the open market and the Scottish Government will keep a financial stake in the property so you do not have to fund all of it. The scheme is open to all first time buyers on low to moderate incomes, with priority for certain groups. You will pay for the majority share (between 60% - 90% based on your income) with the Scottish Government helping to fund the remainder of the price of the property.
The owner purchases part of the home and rents the remainder, usually from a registered social landlord. The owner can buy tranches of 25%, 50% and 75% of the property. Several registered social landlords have this type of property available although some may have restrictions on who qualifies: