The housing association, which already owns around 1400 properties in Dundee, is offering 14 new-build properties for Shared Equity at its latest development in Honeygreen Road.

Shared Equity is a scheme promoted by the Scottish Government, which aims to help people on low incomes who wish to own their own home but cannot afford to pay the full price for a property.

At Honeygreen Road, this will result in people being able to buy a 60% stake in a new, two-bedroom house for as little as £75,000 and a three-bedroom house for £87,000.

Shared Equity means Home Scotland will keep a financial stake (administered on behalf of the Government) in the property so people do not have to fund it all.

The buyers will pay for the majority share (between 60% and 80%) to own the property outright and, unlike other shared ownership schemes, owners will not pay any form of rent to Home Scotland — no matter what stake they take in the property.

After two years, people will have then have the option to increase their equity stake to 100% and, when they come to sell their home, they will get whatever percentage of the equity stake they have at that time.

Would-be buyers have to meet certain criteria to qualify for the scheme including first time buyers, existing tenants of any local authority or housing association, a disabled homeowner whose home is no longer suitable for their needs, or those with particular needs who are unable to purchase a suitable property.