properties_to_let.jpg

GS Brown Shared Equity Scheme

100% ownership for 75%* of the cost.

GS Brown is offering shared equity on a selected number of properties for a limited period only. The main aim of the scheme is to provide a helping hand in financing the purchase of a new property.

The scheme works as follows:

  • You own 100% of your home – this is not shared ownership
  • You will have to arrange your own finance for a minimum of 75% of the purchase price.
  • GS Brown will provide a loan for the remainder secured by a second mortgage. There is no interest to pay on the loan from GS Brown.
  • You repay the loan after 10 years or when you sell, whichever is soonest.
  • The amount you pay back depends on the value of the property at the time.

For example, if you purchase a 3 bed detached property at Hilltop priced at £196,000, based on paying 75%, you would need to raise a mortgage from your bank or building society for £147,000. We will lend you the remaining £49,000 (25%) interest free, for up to 10 years.

If after 3 years the value of the house increased to £205,000 then the amount to be repaid to GS Brown will have increased to £51,250.

The amount we will loan to you under the shared equity scheme depends on the purchase price of the property:

Purchase price between £185,000 - £200,000 maximum 25%
Purchase price between £200,001 - £250,000 maximum 20%
Purchase price between £250,001 - £320,000 maximum 15%

*terms and conditions apply