LIFT Open Market

Want to buy a home on the open market but don’t think you can afford the full price? The LIFT Scheme could help.

Covid-19: Shared Equity Schemes operated by Link on behalf of the Scottish Government remain open, with staff working from home. Please check this web page regularly for updates.

  

 

The LIFT Open Market Shared Equity (OMSE) scheme has helped over 13,000 people receive up to 40% funding towards the price of a home on the open market since 2005. 

Find out if you are eligible by applying online. The LIFT scheme is free to apply to and there is no obligation to buy a property once you have been approved.

LIFT helped us buy our first home. Council rent was £416 a month, mortgage is £230 a month! We will be able to pay more mortgage off, repay government money back, and own our own home.

Kevin, LIFT scheme buyer

Link administers the LIFT Open Market Shared Equity scheme on behalf of the Scottish Government throughout Scotland.

Not ready to apply? Join the LIFT mailing list to receive additional information on the scheme, including the maximum purchase price for a property in your area, via email. 

Who is eligible?
How does LIFT Open Market Shared Equity work?
What value of property can I buy?

How do I apply?

Read our Leaflet for an easy step by step guide to applying. 

We recommend that you speak with an Independent Financial Advisor or Mortgage Advisor before applying. You will need to provide a Mortgage Promise or Mortgage Agreement in Principle along with your application unless you are over 60 and buying without a mortgage.

Supporting documents for all applicants to be named on the title deeds, irrespective of whether they will be on the mortgage, must be received before we can assess your application. All supporting documents should be submitted with your application.

Apply here

We will assess applications within 5 working days of receipt of all supporting documents.

To support your application, you are required to provide the following:

  • One mortgage decision in principle, unless you are over 60 and applying without a mortgage
  • Your most recent 3 months’ bank statements for all accounts held for each applicant
  • Your most recent 3 months’ confirmation of all savings held for each applicant
  • Your most recent 3 months’ (or 12 weeks) payslips for each applicant
  • If you are self-employed, a copy of your last years accounts or most recent SA302 tax form
  • Your most recent award notice for any benefit payments including Universal Credit, Working Tax Credit and Personal Independence Payment
  • Confirmation of all savings held for each applicant
  • Proof of accommodation status such as tenancy agreement, mortgage redemption statement or letter from parent or guardian if living with them

We recommend that you speak with an Independent Financial Advisor or Mortgage Advisor before applying to the scheme as you are required to provide a Mortgage Promise or Mortgage Agreement in Principle along with your application.

There are currently 14 lenders offering mortgages for the OMSE scheme:

  • Bank of Scotland
  • Barclays
  • Capital Credit Union
  • Glasgow Credit Union
  • Halifax
  • Leeds
  • Lloyds Bank
  • Nationwide
  • Natwest
  • The Royal Bank of Scotland
  • Skipton
  • TSB
  • Scottish Building Society
  • Scotwest Credit Union

If your application is eligible, you will be issued with a Passport Letter, which is valid for 12 weeks to give you time to find a suitable property.   

Read our real-life buyer Case Studies and testimonials

Not ready to apply? Join the LIFT mailing list to receive additional information on the scheme, including the maximum purchase price for a property in your area, via email. 

After sales 

Link’s After Sales team provides services to buyers who purchased their home through one of the Scottish Government’s shared equity schemes. Find out more and read the Scottish Government’s Aftersales Information for Buyers on our Shared Equity After Sales web page.

More information

For more information about the LIFT Open Market Shared Equity scheme, please read the Buyers’ Information Guide, sign up to the LIFT mailing list or contact us at lift@linkhaltd.co.uk or 0330 303 0125.  You can also check the Scottish Government’s website.

We welcome feedback about our services. Compliments and complaints can be submitted here.

Read our Flyer for a simple step by step guide to applying

Read our real-life buyer Case Studies and testimonials

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