LIFT SHARED EQUITY MORTGAGES

The Low-Cost Initiative For First Time Buyers (LIFT) is the Scottish government’s shared equity scheme for first time buyers on a low to moderate income. The scheme has 2 versions. Version one is the “new supply” scheme, allowing applicants to purchase a new-build home from their local council or housing association. Version two is the “open market” scheme, allowing applicants to purchase any home that meets guidelines for both purchase price and size. In each case the Scottish government will take up to a 40% equity share of the property, according to the level of need.

We often find that prospective applicants for LIFT find it challenging researching both the scheme itself and their eligibility for a mortgage, and this is where we can help. Our knowledge of the LIFT application process and participating lenders allow us to quickly inform you of your prospects for success, without the need to expend the time and effort “going-it-alone”.

Contact us today if you would like to explore whether the LIFT scheme could be the route to your first home.