Golden Share

Golden Share is an affordable housing initiative backed by the City of Edinburgh council, allowing home-buyers to own 100% of their property with a purchase price of just 80% of the open market value.

Under the Golden Share scheme, the purchaser owns 100% of the home, but the Golden Share price of the property is fixed at 80% of the open market value (at the time of sale). The purchaser must provide necessary evidence to demonstrate that they are eligible for the scheme.

The scheme is available to potential purchasers who can evidence a local connection, a need for a property of the chosen size, and an inability to finance the purchase of the property at its full market value.

The home must be the purchaser’s sole and primary residence and may not be let or sub-let without prior approval from City of Edinburgh Council.

The property price is capped at 80% of open market value for all future re-sales, and the first sale purchaser price from a Golden Share home is currently £214,796.

Golden Share terms and conditions

Eligibility for the Golden Share scheme will be assessed by The City of Edinburgh Council based on the evidence provided by the potential purchaser.

This evidence includes (but is not limited to):

  • Valid photo identification
  • Proof of address
  • Previous three months payslips and previous three months bank statements
  • Mortgage Offer or Mortgage Offer In Principle to evidence that the purchaser would not be able to finance the purchase of the chosen property at full market value.
  • A supporting statement which includes:
    • Details of the purchaser’s connection to the Lothians, either through employment, family or cultural networks.
    • If the deposit of cash sum being used to purchase the property is more than £64,439, the applicant must include evidence of why they would not be able to purchase a property at market value elsewhere in the area and how other housing does not meet their needs. The applicant must also include details of the deposit, including the source of funding and the amount of the deposit. If the applicant can afford to purchase a similar property at market value they will not be eligible for a Golden Share home.
    • The level of savings that the applicant will have after completing the purchase of the homes and furnishing the property.
    • If purchasing a 3-bedroom property, the purchaser must explain how their household circumstances would require a home of this size and additional eligibility criteria will apply.
  • The City of Edinburgh Council does not provide mortgages. The value of a home can decrease or increase over time. Your home may be repossessed if you do not keep up repayments on your mortgage.

Further information on low cost ownership homes can be found on the Edinburgh government website.

To take advantage of Golden Share, search for your new home and speak to a member of our sales team.