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.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.