Are you struggling to save the full deposit needed to purchase your first home? Are properties in your area just too expensive for your budget? Has the prospect of being a homeowner never been an option you’d think you have?

The LIFT Open Market Shared Equity Scheme reopened for applications this month.

The scheme helps eligible buyers in Scotland fund between 10% and 40% of their property purchase providing you have chosen your property on the open market. The property also needs to be within a set price threshold based on the size and location of the property. During the course of your ownership, you are able to increase your equity in the property when it suits you to do so. What’s more is there are no regular monthly payments due to the Scottish Government for the funding. When you then sell your property that same percentage it is then paid back to the Scottish Government. With Shared Equity Funding, this could help you get a lower mortgage making repayments more affordable making that dream of being a homeowner a reality.

At andersonbain we can support you through the LIFT process, with our legal teams on hand to answer any questions you have drop us an email or give us a  call us on 01224 456789 to speak to a solicitor today.