Places for People releases new affordable family homes in Stirling
A limited number of spacious and affordable family homes are being created for the first time in Stirling by Places for People.
The placemaker is releasing the ten three-bedroom homes for sale at Castle View, which will be available through the Shared Equity scheme.
It means that local people will be able to purchase a spacious family home in exchange for a relatively modest deposit and monthly repayments.
The homes - which have been developed in partnership with the Scottish Government and Stirling Council – all benefit from a high-quality spacious kitchen dining area complete with utility room along with three generously-sized bedrooms. The development is also ideally located being within walking distance of Stirling centre and set against a backdrop of stunning scenery – offering the very best of modern and rural life.
Allison Sutherland, regional sales and marketing director Scotland, at Places for People, said: “We are thrilled to be releasing homes at our first development in Stirling. We’ve worked with Stirling Council and the Scottish Government to deliver the first affordable homes in the city, which are available through the popular Shared Equity scheme.
“The internal layout in the three-bedroom homes has been designed with modern living in mind, giving you the space to do more together – whether it’s home working, entertaining or home schooling, there’s space for the whole family!
“As these are the first affordable homes to be made available in the area and we are giving priority to people living locally, I would urge customers to view our website to get more information about the homes available and about the Shared Equity scheme. I am sure these will be snapped up.”
Residents can benefit from the best of city and country living. Castle View is set beneath the historic Stirling Castle and just a short walk from the vibrant town centre, and with easy access to motorway networks and the natural splendour of Loch Lomond and Trossachs National Park – this really is the perfect place to live.
Homes at Castle View are available for sale through Shared Equity - equity loans are designed to help you to keep the deposit and monthly payments on your home to a minimum. You fund between 60% and 80% of the full price of the property, made up of your deposit and a mortgage. The equity loan, which is funded by Places for People Scotland and the Scottish Government, finances the remaining percentage.
For example, if the purchase price of the home is £195,000 the buyer could pay £117,000 (60% in deposit and mortgage) while the Shared Equity Scheme would contribute the remaining £78,000. In the future, the buyer could sell the house and the proceeds would then be split 60/40 between the purchaser and the developer.