Cash to help home buyers

MSP Roderick Campbell
MSP Roderick Campbell

A CASH injection given to a shared equity scheme, which helps first time buyers get a foot on the property ladder, has been welcomed by MSP Rod Campbell.

The Scottish Government has announced that an extra £4.65million has been allocated to the Open Market Shared Equity (OMSE) scheme to help those on low incomes into home ownership.

Mr Campbell said: “The Scottish Government has ploughed millions into a number of shared equity schemes to help people start climbing the property ladder.

“This will benefit not only those potential new homeowners, but will also help the Scottish housing market in these difficult economic times.

“In the past four years the Low-Cost Initiative for First Time Buyers (LIFT) shared equity schemes, which OMSE is part of, has helped over 5600 people buy a home.”

Fife and Link Housing Associations will work together to deliver the scheme which can result in the tenant owning their home outright.