Miller homes part exchange scotland

DM1985

I currently have a 60% part ownership property that I purchased in 2008. I do not pay rent on the 40% all that happens is the government take 40% of the sell on price even if this is a loss.

I am interested in buying a miller home and wish to take advantage of their home exchange offer.

Does anyone know if I would meet criteria with my current property being part ownership?

kingstreet

What you are describing is shared equity, not shared ownership.

Is it the "LIFT" scheme?

http://www.scotland.gov.uk/Resource/Doc/235963/0064685.pdf

See page 8, 13 of the pdf.

In which case, you actually sell 100% of the property and at completion, the loan is repaid, leaving you with your equity after your mortgage is also paid off.

Contact the body which handles post-sales issues for your scheme before you do anything else.