The LIFT (Low-cost Initiative for First-Time Buyers) scheme helps first-time buyers, and other priority groups including those with a disability that affects their housing need, get onto the property ladder with Scottish Government support.
“I would highly recommend the LIFT scheme if you require more suitable accommodation for a disabled person. The staff were knowledgeable and efficient and as a result I now have a suitable, affordable home for myself and my boys.” – Francesca, LIFT scheme buyer
The Scottish Government contributes between 10% and 40% towards the property price (up to 49% if you have additional housing costs due to disability) and gets the same percentage back when it is sold. Alternatively, buyers can increase their share if they wish to at any point in future.
You can purchase any size of property as long as you meet the financial criteria, the property meets your needs and is large enough to avoid overcrowding. To be eligible, properties must be:
- Advertised for sale publicly e.g. on a website, and
- Priced within the maximum price threshold for the area and property size.
A buyer with a household income of £27,000 per annum (from a combination of salary and benefits) found their rental accommodation no longer met their needs due to a disability. They bought a two-bedroom property in Edinburgh with the help of LIFT.
Property price: £135,000
Buyer contribution (deposit plus mortgage): £81,000
Scottish Government contribution: £54,000
In this example, the Scottish Government contributed 40% of the price and will get the same percentage back when the property is sold, unless the buyer decides to increase their share.
In addition to those with a disability, LIFT is open to:
- First-time buyers
- Social renters
- Members of the armed forces and veterans who have left within the past two years
- Widows, widowers and other partners of those who have lost their life while serving in the armed forces within the last two years
- People aged over 60 who can demonstrate a housing need
For more information, visit https://linkhousing.org.uk/LIFT-disability or text ‘LIFT’ to 66777.
Eligibility criteria apply. Always seek independent financial advice.