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Publication - Guidance

Open Market Shared Equity (OMSE) scheme: information for buyers

Published: 25 Oct 2017
ISBN:
9781788513562

Information for buyers including eligibility criteria and the application process.

12 page PDF

244.3kB

12 page PDF

244.3kB

Contents
Open Market Shared Equity (OMSE) scheme: information for buyers
Who is the scheme for?

12 page PDF

244.3kB

Who is the scheme for?

The scheme is available to help all first time buyers. If you have previously owned a home you will not be able to receive assistance (unless you are one of the priority access groups).

You are strongly advised to take independent financial and legal advice before agreeing to take part in the scheme.

Priority access to the scheme is provided to priority group applicants which include social renters (in other words, people who rent a property from either a local authority or a housing association), disabled people, people aged 60 or over, members of the armed forces, veterans who have left the armed forces within the past two years, and widows, widowers and other partners of service personnel for up to two years after their partner has been killed whilst serving in the armed forces.

If you are currently a tenant of a local authority or registered social landlord, you will not be able to buy your existing home from your landlord through the Open Market Shared Equity Scheme. However, you may be eligible to buy a property that is for sale on the open market.


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