How it defines homes for low cost ownership.

The Scottish Government defines homes for low cost ownership as the five grants it makes available under the Low-cost Initiative for First-Time Buyers (LIFT). This initiative brings together the Scottish Government''s range of schemes to support first-time buyers. It aims to help people on low to moderate incomes to access home ownership where that is sustainable for them. It also aims to help the Scottish Government to deliver mixed communities in new housing developments.
LIFT includes the following schemes:
The Open Market Shared Equity Pilot (OMSEP)
- a pilot scheme to allow first-time buyers to buy a property on the open market;
The New Supply Shared Equity scheme (NSSE) “ a scheme to allow first-time buyers to buy a new build property;
The Shared Ownership scheme
- where a first-time buyers buys part-ownership of a property and make an occupancy payment to a registered social landlord on the remaining portion;
Rural Home Ownership Grants (RHOGs) “ a grant which contributes to the costs of acquiring, self-building or renovating a home for people in rural areas who could not otherwise afford to buy; and
GRO grants for owner occupation
- grants to private developers to build houses for sale. They are used both to introduce housing for sale in areas with little or no private housing and to help meet local shortages.