Shared Equity Scheme Helps Homebuyers In Aberdeenshire

Homeowners from Aberdeenshire have moved into their perfect home thanks to Places for People’s Shared Equity scheme.

The team at Chapelton recently welcomed new residents to its latest phase of homes, with Kitti and Keith moving into their brand new two-bedroom home along with neighbours Lynn and first-time buyer Sam.

Kitti and Keith Low were living in a rental property in Aberdeen and were keen to move to Chapelton. The couple did not want to compromise on location, and wanted a home to call their own which offered them more space and the benefits of rural living.

Kitti said: “Purchasing a home at Chapelton on the Shared Equity scheme was one of the best experiences we have had. A few years ago we would never have dreamt of moving into Chapelton – but now we get to call it home.

“When we first visited Chapelton we knew straightaway this is where we wanted to live and the Shared Equity scheme has made this a reality for us. We found it a very simple process to go through and the staff at Places for People take you through the scheme step-by-step, answering all questions we had. We also absolutely loved being able to see the progress of our new home being built from the ground to a completed house.”

The Shared Equity loan, available exclusively at Chapelton, is designed to help customers keep their deposit and monthly payments on a new home to a minimum. Customers fund between 60% and 80% of the full price of the property, made up of a deposit and mortgage – and own 100% of the home. The equity loan, which is funded by Places for People Scotland and the Scottish Government, finances the remaining percentage.

The scheme is designed for customers who cannot afford to buy on open market sale. It is open to a range of customers including first-time buyers, people aged over 60, people living in social housing, private rented housing or living with relatives, in the Armed Forces or veterans, widows and widowers, or if you have a disability. Priority will be given to people living in the local area.

Keith explained: “The Shared Equity scheme offers an amazing opportunity for first time buyers and young couples like us to get on to the property ladder, keeping both our deposit and monthly payments at a more affordable price. We never thought we’d be able to buy at Chapelton – but thanks to the team and this scheme – we’ve moved into our forever home.”

A new release of three-bedroom homes are now available through the Shared Equity scheme.

Chapelton

Allison Sutherland, sales and marketing director at Places for People, said: “We are delighted to welcome our newest residents to Chapelton. This is the third phase of our development and it is wonderful to see the community being established in this beautiful location.

“Places for People has obtained grant funding for affordable homes at Chapelton, so we are in the unique position being able to offer these high-quality homes for sale through the Shared Equity scheme with the Scottish government. It means that our customers can have access to a range of homes on a brand-new development in a beautiful location – with a range of three-bedroom homes being added to the scheme.”

Neighbour Lynn Third, said: “As soon as I walked through Chapelton I sensed the calmness and charm of this wee town and knew this was where I was meant to be – the house is wonderful and the views are simply breath-taking. I was greeted by so many friendly faces and instantly felt at home.

First-time buyer Sam Reid, explained: “I didn’t know where to begin when starting the process of buying my first home. However, from the first visit to Chapelton and throughout the process I was supported by the experienced Sales team, who made the whole process of buying a home through Shared Equity very easy to follow. I am so happy and settling into my new home.”

Chapelton is a long-term vision to create a new sustainable town, comprising 8,000 homes as well as all the amenities you would expect. Located just eight miles south of Aberdeen, the development pays homage to the established buildings of north eastern Scotland, with homes integrating local materials such as slate, granite and stone.

There’s a range of two-, three- and four-bedroom homes available to buy or rent. The show home and marketing suite are open Thursday to Monday, from 10.00am to 5.00pm.

Find out more about Chapelton from Place for People.

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