Scottish Government LIFT mortgage scheme now open in 2024

The Scottish Government has announced that Low-cost Initiative for First Time Buyers (LIFT) mortgage scheme is re-opening for new 2024 applications.

One of the two LIFT schemes, the Open Market Shared Equity Scheme (OMSE) is opening for new applications in 2024. This is great news for Scottish homebuyers, making the dream of owning your own home more achievable.

These homebuyers in Scotland are eligible to apply:

  • First-time buyers
  • People aged 60 or over
  • Social renters (people who rent from the council or a housing association)
  • Disabled people
  • Members of the armed forces, or veterans who have left the armed forced 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


Through the LIFT / OMSE scheme, you will get help from the Scottish Government to buy a qualifying home, that you couldn’t otherwise afford. You will pay for the biggest share, which is usually 60-90% of the home’s cost, and the Scottish Government will hold the remaining share under a shared equity agreement with you.

For example, if you pay for 75% of the home, the Scottish government will help with 25% of the cost. This can be a huge help for low to medium income households, or those struggling to save a deposit to purchase their first home.

You will have to meet certain criteria to be eligible, including proving that you would not be able to afford the house without the LIFT scheme, and the house must also be within the ‘maximum threshold’ price for your local area. Our friendly advisors can help you with your application and offer advice for your local area.

LIFT Scheme Mortgage Experts

First Mortgage offer a free, personalised mortgage advice service for all types of homebuyers, including first time buyers. We will help you understand eligibility for OMSE, lender affordability criteria, and the mortgage and home buying process from start to finish. We compare over 10,000 mortgage deals from over 90 lenders (including all lenders currently offering mortgages for the OMSE scheme.) And we also do all the paperwork and chasing for you, so all you need to do is pick up the keys.

To get started, book a no-obligation appointment today.