More funding for OMSE

Funding for the Scottish Government Open Market Shared Equity Scheme (OMSE) scheme is being increased by £10 million, Social Justice Secretary Alex Neil confirmed.

Investment in the Open Market Shared Equity Scheme (OMSE), which helps eligible first-time buyers on low to moderate incomes buy a home on the open market, will top £80 million in 2015/16.

Assistance is in the form of an interest-free loan with eligible buyers required to purchase between 60 and 90 per cent of the value of a home, for sale on the open market, within certain price thresholds.

In Livingston, Social Justice Secretary Alex Neil visited the home of Paul Miller and Ashleigh Whitelaw who purchased a home with assistance from the scheme. 

Mr Neil said: “We want to help people on low to moderate incomes to access home ownership where this is sensible and sustainable for them. 

“Our popular OMSE scheme helps first time buyers, like Paul and Ashleigh, who would not otherwise be able to afford to buy their first home to get a foot on the housing ladder.”

“OMSE provides priority access to social renters, disabled people, and members of the armed forces although it is open to all first time buyers.  

“Since 2007, our Low Cost Initiative for First Time Buyers (LIFT) shared equity schemes have helped over 10,000 people get a foot on the property ladder.”

Apply for the scheme

Link manages the OMSE scheme on behalf of the Scottish Government in a number of local authorities across Scotland.

Apply for the Open Market Shared Equity Scheme

 Just complete our online application form

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