Open Market Shared Equity (OMSE) Scheme: buyer information

Who is the scheme for?

The scheme is available to help 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).

Priority access to the scheme is provided to priority group applicants which are, 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. Priority access applicants can have previously owned a property but should not own another property at the same time as an OMSE property. The OMSE property should be their sole residence.

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

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