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What is Access Ownership?
Access Ownership is a new scheme designed to offer more housing choice, flexibility and control to disabled people. It is based on the principles of shared ownership.
The scheme is open to people with any form of disability including
- physical impairment,
- learning difficulties
- and mental health issues.
It is available to those who are looking to buy a more suitable home and to people who already own a property but are seeking to reduce their financial commitments.
We run Access Ownership with a Scottish charity called Ownership Options, which has specialist knowledge of the issues surrounding disabled people and home ownership in Scotland.
How does it work?
Under the scheme, you own a share in a property and Link owns the rest. The size of the share can range from 25% to 75% and you pay a monthly 'rent' (known as an 'occupancy charge') to Link on the remainder.
The amount you pay depends on the size of the share you own. If you are eligible, Housing Benefit would normally cover your occupancy charge.
If you are looking to buy
You would choose a property for sale on the open market in an area that is right for you - for example, near to your friends, family or workplace. Link would purchase the property and you would then purchase a share from Link, paying an occupancy charge on the remainder.
If you are an existing homeowner
Link would purchase a share in your property in return for you entering into an agreement to pay a monthly occupancy charge.
Flexible features
You may also opt for a full repairs and maintenance service from Link. The fee for this would be incorporated into your occupancy charge.
You have the right to increase your share in the property based on its current market value or Link's initial purchase price (whichever is higher).
Paying for your share
There are a number of ways to pay for your share in a property:
- A traditional mortgage
- Savings
- Family funds
- Equity from the sale of your current property or using the equity in your current property for your share
- A combination of the above
In some cases, depending on your circumstances, Income Support will pay the interest on an 'interest-only' mortgage of up to £200,000.
The agreement by Link to purchase a property will be subject to a satisfactory 'Home Report' survey and an inspection by Link's technical staff.
How to find out more
If you are interested in applying, please contact Ownership Options, who will help you decide if the scheme is right for you.
Ownership Options
Visit Ownership Options' website
Tel: 0131 661 3400
Email: info@oois.org.uk
Ownership Options
The Tudsbery Centre
The Thistle Foundation
Niddrie Mains Road
Edinburgh
EH16 4EA
