Improvements to shared equity housing scheme

Veterans and disabled people among those to benefit from the scheme

Changes to the Scottish Government’s open market shared equity scheme will mean disabled people, first-time buyers and others on low to medium incomes will have an increased opportunity to buy a home that meets their needs.

Now, the threshold of the Open Market Shared Equity Scheme (OMSE scheme)– which allows people to buy a home without having to fund its entire cost – has been raised by 9% across the country to reflect rising house prices. The scheme is aimed at priority groups who need support to buy their own home.

The OMSE scheme is available across Scotland. It’s open to first-time buyers and these priority access groups:

· people aged 60 and over

· 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 has lost their life while serving.

Applicants will also be able to make offers on properties above the formal valuation amount, where they have funds available. People who have an application in progress do not need to reapply to benefit from the changes.

For more information see the Government website.

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