Open Market Shared Equity is open to all first-time buyers.  The scheme is designed to help people on low to moderate incomes to buy a home on the open market where it is sustainable for them and where they could not afford to pay the full market price. 

It is part of the Scottish Government’s LIFT (Low-cost Initiative for First-Time Buyers) scheme.  Grampian Housing Association acts as administering agent on behalf of the Scottish Government for the scheme in Aberdeen City, Aberdeenshire and Moray.

The scheme gives priority to applications from those living in social housing, disabled people, members of the armed forces, forces veterans, widows, widowers and partners of service personnel.

For further information read the Open Market Shared Equity leaflet.

Download the application form to apply.

Under the scheme you will be required to contribute between 60% - 90% of the purchase price of a home with the Scottish Government providing assistance to fund the remaining amount. There are limits set on the prices based on the size of the property and the area as follows:

OMSE Thresholds 2016 - 17

AREA

APT SIZE

THRESHOLD

Min Share
60%

Max Share
90%

Aberdeen City

2

£115,000

 £69,000 

 £103,500

 

3

£145,000

 £87,000

 £130,500

 

4

£165,000

 £99,000

 £148,500

 

5

£205,000

 £123,000

 £184,500

 

6

£300,000

 £180,000

 £270,000

         

Central Aberdeenshire

2

£135,000

 £81,000

 £121,500

 

3

£180,000

 £108,000

 £162,500

 

4

£200,000

 £120,000

 £180,000

 

5

£245,000

 £147,000

 £220,500

 

6

£290,000

 £174,000

 £261,000

         

North Aberdeenshire

2

£85,000

 £51,000

 £76,500

 

3

£115,000

 £69,000

 £103,500

 

4

£130,000

 £78,000

 £117,000

 

5

£175,000

 £105,000

 £157,500

 

6

£230,000

 £138,000

 £207,000

         

South Aberdeenshire

2

£125,000

 £75,000

 £112,500

 

3

£170,000

 £102,000

 £153,000

 

4

£195,000

 £117,000

 £175,500

 

5

£245,000

 £147,000

 £220,500

 

6

£280,000

 £168,000

 £252,000

         

Moray

2

£80,000

 £48,000

 £72,000

 

3

£105,000

 £63,000

 £94,500

 

4

£125,000

 £75,000

 £112,500

 

5

£155,000

 £93,000

 £139,500

 

6

£205,000

 £123,000

 £184,500

[1]The apartment size of a property means the number of rooms, but does not include kitchens or bathrooms.  For example, a flat with 2 bedrooms and 1 living room would be a 3 apartment property.

If you are eligible to the scheme, you will be issued with a Passport Letter detailing the terms of your acceptance to the scheme. You can then look for properties that match the criteria stated in your Passport Letter.

After the initial purchase owners can proceed to buy the property outright or to increase their stake regardless of whether the market value of the property has increased or decreased.

Owners are fully responsible for all maintenance, insurance and repair costs as well as mortgage repayments and Council Tax.

For further information please contact the Sales & Leasing Team on 01224 202900 or email ownership@grampianhousing.co.uk.

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