Shared Equity Home Purchase Schemes

Mortgage Advice

If you are looking to purchase a new home then there are a number of “shared equity” schemes available from the Scottish Government to assist and I have summarised below details of these shared equity schemes. 

First Home Fund

The Scottish Governments First Home Fund has proved very popular since its launch and has now run out of funding for the current financial year. The scheme will reopen in the New Year for applications from First Time Buyers for purchases completing between April 2021 to March 2022. (for more information on the First Home Fund head over to

The First Home Fund is the most flexible of schemes available to assist First Time Buyers but it is not the only “Shared Equity Scheme” available.

LIFT Open Market Shared Equity Scheme (OMSE)

With this scheme there are restrictions on the maximum purchase price and size of property that can be purchased. This is based on the area in which the property is being purchased and the size of property allowed for your household.

If accepted, you are then able to purchase a property that is being sold on the open market. You must contribute towards the purchase with the maximum mortgage you can obtain plus any deposit you have available. You can get between 10% and 40% assistance from the Scottish Government in the form of an equity loan. If with the mortgage available and your own deposit you can raise more than 90% of the purchase price you will not be eligible for the scheme.

New Supply Shared Equity (New Builder)

This again open to First Time Buyers but can also be considered where you may have previously owned a home and have experienced a significant change to personal circumstances such as a martial breakdown. The scheme can also apply a maximum household income which if exceed would mean that you would not qualify.

The assistance available will range from 20% to 40% of the purchase price of the property. You will own 100% of your new home but the Scottish Government will take a security over the property for the percentage of the assistance provided.

More information is available at

Help to Buy

The Help to Buy Affordable New home scheme is for new build property being sold by registered home builders. This is available for both home movers and first time buyers but there is a maximum purchase price which is £200,000.

The maximum assistance available is 15% of the purchase price.

How the scheme works –

Mortgage Advice

To find out more about the different schemes and whether you would qualify and if they would be of benefit to you get in touch with David who will be able to review your mortgage options.

Call David on 01224 784030


Your home may be repossessed if you do not keep up repayments on your mortgage.

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