The Scottish Government has two funding schemes open to support people to buy their first affordable home: the Open Market Shared Equity Scheme (OMSE); and the First Homes Fund.

OMSE supports first time buyers, social renters, disabled people, people aged 60 and over, members of the armed forces and veterans.

First Homes Fund offers a £10,000 contribution to first-time buyers that struggle to save enough for a full deposit.

Cabinet Secretary for Social Justice and Housing in the Scottish Government Shirley-Anne Somerville said:

“This Government is delivering on affordable housing and this scheme, along with our First Homes Fund, will provide a vital support for those looking to buy their first home.

“We know how hard it is to get that first foot on the property ladder – our shared equity schemes assist households who can sustain mortgage repayments but find it difficult to accumulate the necessary savings to secure a purchase. 

“I encourage everyone who is eligible and looking to buy a home to apply to these schemes. Giving more people the chance to buy an affordable home also plays a crucial role in reducing homelessness and eradicating child poverty across the country.”

Click on this link for more information about The Open Market Shared Equity Scheme (OMSE). It is a shared equity scheme designed to help eligible buyers on low-to-moderate incomes purchase a home on the open market by funding a percentage of the price (usually 60% to 90%) while the government holds the remaining equity stake.

Click on this link for more information about The First Homes Fund which offers a £10,000 contribution to first-time buyers that struggle to save enough for a full deposit.