How to buy or rent a 21st century home

The first homes for sale are at Gracemount's housing development Evolution and they are being sold by Cruden Homes. Most homes will be sold on the open market with some homes available through shared equity.

Shared equity

Shared equity is a scheme where the buyer secures a mortgage for 75% of the purchase price, while the remaining 25% equity is held by the developer for up to 10 years.  There is no interest or rent to pay of the developer's equity share and the home owner is responsible for the full insurance costs, legal fees, maintenance and repairs.  At the end of the agreed term of 10 years (or sooner if the property is sold), the homeowner repays the developer 25% of market value of the property.

If you want to know more about buying a home at Evolution email the Evolution Sales Team or call them on 0845 220 2525.