A scheme to help first time buyers and certain priority groups
step on to the property ladder has reopened for applications.
The Open Market Shared Equity (OMSE) scheme is available across
Scotland to first-time buyers on low or medium incomes who cannot
afford the full price of a home.
Successful applicants will be able to buy a home without having
to purchase it in full, usually between 60% and 90% of the
property's value, with the Scottish Government owning the
remaining share.
Social Justice Secretary said:
“Taking the first step on to the property ladder can be difficult
for some, especially during the cost of living crisis where we
have seen inflation and interest rates push house prices up.
“We recognise that and by reopening the OMSE scheme we are giving
help to as many people as possible to own an affordable home by
creating a level playing field with other buyers.
“I would encourage anyone who is either a first-time buyer or in
one of the priority groups to consider applying through the
scheme.”
Background
Apply here
Selected groups eligible for support from the OMSE scheme
include:
- people aged 60 and over
- first time buyers
- social renters (people who rent from the council or a housing
association)
- disabled people
- members of the armed forces
- veterans who have left the armed forces within the past two
years
- widows, widowers and other bereaved partners of service
personnel for up to two years after their partner has lost their
life while serving
