Shared Equity

Established in 2005, Fyne Inititiatives is the commercial arm of Fyne Homes Ltd - developing the choice of housing currently available through promoting and expanding ownership initiatives such as serviced building plots and Shared Equity homes for sale.

To register your interest in our current Shared Equity properties please contact Kathryn Armstrong: 
If you have any other queries please contact our Housing department on: 0345 607 7117.

Below are some of the most frequently asked questions regarding Shared Equity.

1. What is Shared Equity?

Shared Equity is a scheme to help people on low incomes who wish to own their home but cannot afford to pay the full price for a house. Fyne Initiatives develop new Shared Equity properties for sale on a ‘shared equity’ basis. This means that Fyne Initiatives will keep a stake in the property, making it more affordable to the buyer. The Shared Equity buyer will pay for a majority share in the property (normally between 60% and 80% – but in some circumstances 51%) and will own the property outright. When the house is sold, both the Shared Equity owner and Fyne Initiatives will receive their percentage share of the property value.

2. How does Shared Equity Work?

The Scottish Government is committed to helping people meet their aspirations to become home owners. Shared Equity is one way to do this. The scheme is financed by The Scottish Government. They will provide grants to Fyne Initiatives to help them build new homes, which will be more affordable than typical property prices in the area because purchasers will only be buying a partial 'stake' in the property.

3. What is Classed as Income?

Shared Equity applicants will have to state all sources of finance. A household's income will be considered to be the total of:

gross earnings, per single person or couple, as appropriate;

any other income, comprising sickness benefit, unemployment benefit, bank interest, superannuation or pension from previous employment, social security benefit, working families tax credit, widow's pension and shareholder's profits;

Personal contributions may comprise savings, gifts or any other contributions by the applicant.

The definition of savings that we use includes: cash, premium bonds, stocks and shares, unit trusts, bank or building society accounts and fixed term investments; the surrender value of any life assurance or endowment policies; property; redundancy payments; pension lump sum payments.

It does not include: personal possessions; business assets; tax rebates; personal pension schemes; retirement annuity contracts and annuity surrender values; any capital sum awarded for the purpose of support or care costs.

We will include savings held by all prospective applicants. A Shared Equity purchaser may retain £5,000 of any savings held. Above this amount, 90 per cent of the balance will be treated as a contribution towards the Shared Equity equity stake.

4. Is Shared Equity only for 1st time buyers?

Shared Equity will mainly help first-time buyers, but it can help others too. A disabled person who owns a house which isn't suitable for their needs could be helped to move to a more suitable house. The type of people that Shared Equity will prioritise will vary locally but may include, for example: people who cannot afford to purchase on the open market but have an identifiable need to stay in the local area; local families unable to purchase a home; people living in or applying for Local Authority or Housing Association property.

5. Can I ever own 100% of the property?

Fyne Initiatives will always retain a 20% "Golden Share" of the property. This means that you can only ever own up to 80% of the property. When the property is sold on, Fyne Initiatives will receive at least 20% of the selling price.

6. Will Fyne Initiatives contribute to the upkeep of the property?

It is the responsibility of the purchaser to ensure the upkeep of the property. Although a purchaser will own only a percentage stake in the property the purchaser is fully liable for costs of all repairs and maintenance.

7. Can I increase or decrease my stake?

The purchaser is entitled to increase his/her share in the property to a maximum of 80%, two years after the date that missives of sale have been concluded. At the time of increasing the share, an independent valuer, will determine the value of the property.

If owners increase their share in the property they must meet all associated costs, including those of Fyne Initiatives.

It is not possible to reduce an owner's share in the property under any circumstances. This is important and means that you should be as confident as possible that you can meet your mortgage payments each time you increase your stake.

8. What happens if I want to sell my House?

An independent valuer will value the property, Fyne Initiatives will either buy back your share or arrange for another first time buyer to purchase your share, both options will be at the market rate. If any of these options are not available you would then sell your property on the open market, with Fyne Initiatives receiving their share of the value.

9. I am interested in a Shared Equity Property, What do I do next?

To register your interest in our Shared Equity properties, please contact Kathryn Armstrong, Housing Team Leader on 0345 607 7117 or

Additonal Information

The home that you purchase must be your sole residence.

The property will be suitable for your housing need, although you will be able to buy a home that has two bed-spaces more than the people in your household.

No rent is payable to Fyne Initiatives you only pay for your share of the property.

Before entering into negotiations with Fyne Initiatives it is recommended that you seek advice from an independent financial adviser.

All owners must have buildings insurance in place before any sale can be concluded.Shared Ownership

What is Shared Ownership?

Shared Ownership aims to help people on low to moderate incomes to purchase a property where it is affordable for them to over the long term. Through a Shared Ownership scheme, you can buy a 25 per cent, 50 per cent or 75 per cent share in a house or flat owned by the Housing Association.

Priority access is given to the needs of first time buyers with limited housing alternatives, members of the armed forces and veterans who have left the armed forces within the past two years, and widows, widowers and other partners of service personnel for up to two years after their partner has been killed while serving in the armed forces.

How Shared Ownership Operates

Shared Ownership allows you to buy a share of the property and pay an Occupancy Charge on the remainder to a housing association. An Occupancy Charge is an amount you pay because a housing association allows you to occupy the whole property although technically it still owns a share. An Occupancy Charge does not include a cost for repairs to your property and like other home owners you will be responsible for all internal and external repairs for your property, and any ongoing maintenance costs.

For more information please contact Fyne Homes on: 0345 6077117 or local estate agents.