The Open Market Shared Equity scheme works in the same way but allows people to buy homes that are for sale on the open market. There are strict limits on the maximum price which limits the type of property you can buy in terms of value and size according to need. Price thresholds for the Highlands can be found on the Scottish Government’s website.
As with the New Supply Shared Equity, you take out a mortgage to the maximum level you can afford, but in this case the Scottish Government retains the remaining equity. This initiative is particularly looking to help existing council or Housing Association tenants and first time buyers, however there is some scope to help the wider community.
Albyn Enterprises is responsible for the LIFT schemes on behalf of Cairn and Albyn Housing. For information, contact Albyn Enterprises on 01463 259895 or email info@albynenterprises.co.uk rather your local housing association.
More Information
The Scottish Government have booklets which gives detailed information
www.scotland.gov.uk/Topics/Built-Environment/Housing/BuyingSelling/lift
| Return to Table of Contents
| Return to "Do you want to find out about buying a house but are on a low income?"