Low cost initiative for first time buyers

Get a LIFT onto the property ladder

If you are a local authority or housing association tenant, you could be eligible for funding of up to 40% towards the cost of a property through the Scottish Government’s Low Cost Initiative for First Time Buyers (LIFT) scheme.

The scheme helps first-time buyers, and other priority groups, get onto the property ladder by providing an interest-free loan towards the cost of a property. The Scottish Government provides funding of between 10% and 40% of the sale price and gets the same percentage back when the property is sold. 

When buying a home through a shared equity scheme, you own it outright and have the full title to the property, just like any other property buyer.   

Visit the Link Housing website to find out more about the scheme and apply online. 

Who can apply?

Priority for the scheme is given to the following groups:

  • first time buyers
  • local authority and housing association tenants 
  • people with a disability who can demonstrate a housing need   
  • members of the armed forces
  • veterans who have left the armed forces within the past two years  
  • widows, widowers and other partners of armed forces personnel who have lost their life while serving in the armed forces within the last two years  
  • people aged over 60 who can demonstrate a housing need  

What property can I buy?  

To be eligible for the scheme, properties must be advertised for sale publicly (for example, on a website or on social media) and be within the price threshold for the area.

Property price thresholds in East Ayrshire are: 

Property£
2 apartment (1-2 person household) £50,000
3 apartment (1-2 person household) £65,000
4 apartment (3 person household) £85,000
5 apartment (4 person household) £120,000
6 apartment (5 person household) £180,000

*An apartment is classed as a habitable room including; bedrooms, living rooms, dining rooms, box rooms and sunrooms. Kitchens, bathrooms and conservatories are not classed as apartments. The size of property you can buy depends upon how many people are in your household.

Link Housing administer the LIFT scheme on behalf of the Scottish Government for the whole of Scotland. Applications to the scheme are made through their dedicated LIFT team.

Watch a video 

 

Contact Information

Link Housing
Telephone: 0330 303 0125