Open Market Shared Equity Scheme (OMSE) Information Leaflet

What is the Open Market Shared Equity Scheme and how does it operate?

The Open Market Shared Equity Scheme helps eligible buyers on low to moderate incomes to purchase a home where this is sensible and sustainable for them to do so.

The scheme is administered on behalf of Scottish Ministers by 5 agents across Scotland. You can find contact details for the agents on How Do I Apply

Under the scheme you will be required to contribute between 60%-90% of the purchase price of a home with the Scottish Ministers providing assistance to fund the remaining amount. Although you will own the property outright, the interests of the Scottish Government will be secured by a mortgage (or a 'standard security' as it is known in Scotland) on your property. Upon the occurrence of certain events in the future (for example when you sell your home) you will be required to repay funds to Scottish Ministers.

You should be aware that a lender may expect you to provide a modest deposit in order to obtain a shared equity mortgage and you should discuss this with your independent financial advisor before you apply to the scheme.