OHAL Continues To Offer Open Market Shared Equity

Orkney Housing Association Ltd (OHAL) has been allocated £120,000 funding from the

Scottish Government to enable it to continue to offer Open Market Shared Equity in Orkney.

Open Market Shared Equity allows eligible individuals to receive Scottish Government assistance to purchase a house on the open market. The scheme which is part of the

Government's Low-cost Initiative for First Time Buyers (LIFT) has now been extended to accept applications from all first time buyers. It provides applicants who meet the financial criteria, with Scottish Government funding for between 10% and 40% of the purchase price depending on their means.


So far 10 households in Orkney have benefitted from this scheme and it is estimated that this latest allocation will enable the Association to assist a further three purchasers this year.

Sally Inkster, OHAL Chief Executive said: "With the loss of our new build development programme it is particularly important that we can continue to offer some assistance to those on low to moderate to incomes looking to get into home ownership."

(CD/GK)