LIFT New Supply
The New Supply Shared Equity scheme (NSSE) aims to help people on low to moderate incomes to buy an affordable new build home.
With the NSSE scheme, eligible applicants can buy a new home from Link that has been built for shared equity sale.
This means applicants fund the majority share of the purchase of their property and own the property outright, with the Scottish Government holding the remaining share of the property under a shared equity agreement.
For example, if you pay for 70% of your home, the Scottish Government will pay for and hold 30% of the share. You may also have the opportunity to increase your share up to 100% in the future, if the golden share rules do not apply.
Priority groups
The scheme is aimed at households on low to moderate incomes, who can demonstrate they can’t buy a new build house to suit their needs without help from the NSSE scheme.
The scheme is available to all first-time buyers, however, priority is given to:
- people aged over 60
- 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 partners of service personnel for up to two years after their partner lost their life while serving
- existing or previous homeowners who have experienced a significant change in circumstances, for example, a marital breakdown.
For further information about the criteria for the NSSE scheme, please visit the Scottish Government's website.
Mortgage Lenders
We recommend that you speak with an Independent Financial Adviser or Mortgage Adviser 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 shared equity schemes:
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Bank of Scotland
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Barclays
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Capital Credit Union
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Glasgow Credit Union
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Halifax
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Leeds
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Lloyds Bank
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Nationwide
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Natwest
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The Royal Bank of Scotland
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Skipton
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TSB
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Scottish Building Society
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Scotwest Credit Union
There may be other lenders available, please check with your Financial Adviser, bank, or building society.
Applicants aged 60 and over
Applicants who are aged 60 and over and who wish to apply for support from the scheme without mortgage finance are considered a priority access group.
Joint applications will be eligible (without the requirement for a mortgage) from couples where one of the applicants is aged 60 or over.
Joint applications with an applicant aged 60 or over and their offspring under the age of 60 will be eligible, without the requirement for a mortgage, if the applicants can demonstrate that the offspring has a disability that affects their housing needs or ability to sustain a sole occupancy.
