TL;DR
OMSE Scotland: direct answer
The Open Market Shared Equity scheme is currently closed according to mygov.scot, with the page to be updated if it reopens for the 2026/27 financial year.
When open, OMSE lets eligible buyers usually pay for 60% to 90% of the home, while the Scottish Government holds the remaining equity share.
It is for homes on the open market in Scotland, but the property must sit within local price thresholds that vary by area and apartment size.
The buyer owns the home but the Scottish Government share is protected by a standard security and is repaid proportionally on sale or buyout.
Status
OMSE is currently closed
The official mygov.scot page says OMSE is currently closed and will be updated if the scheme reopens for the 2026/27 financial year. Treat this as a prepare-and-monitor page, not a live application page.
How OMSE works
When open, OMSE lets eligible buyers purchase a home on the open market without funding the full cost themselves. The buyer usually pays for 60% to 90% of the home's cost, and the Scottish Government holds the remaining share under a shared equity agreement.
You have complete title to the home, but the Scottish Government share is protected by a standard security. If you later sell, the government receives its percentage share of the sale price.
Who may qualify
The official overview lists first-time buyers and priority groups including people aged 60 and over, social renters, disabled people, members of the armed forces, recent veterans and certain bereaved partners of service personnel.
The scheme is aimed at low to moderate income households who cannot afford a suitable home without support. If you can buy without the scheme, the application may not qualify.
Property and price restrictions
OMSE applies to homes for sale on the open market in Scotland, but the property must fit local maximum price thresholds. gov.scot publishes thresholds by area and apartment size, so there is no single Scotland-wide price cap to quote safely.
Price thresholds vary
Before making an offer, check the current OMSE threshold for the exact area and apartment size. A property above the threshold may not be eligible even if your mortgage looks affordable.
Costs and future changes
You are responsible for mortgage payments, insurance, repairs, maintenance, council tax and normal home running costs. There is no occupancy charge on the Scottish Government equity share, unlike shared ownership.
After buying, you can usually buy a bigger share later. The official after-buying guidance says increases must be at least 5% in a year, and in some areas a 10% golden share may remain.
How to apply
Because OMSE is currently closed, the first step is checking whether the official page has reopened. When open, the official application route is separate from your mortgage application and involves the scheme administrator.
- Check official OMSE status and the current buyer information.
- Check eligibility, price threshold and property fit.
- Contact the administering agent when applications are open.
- Arrange a mortgage review for your buyer share.
- Submit the lender application and provide income, deposit and property documents.
- Use a solicitor to coordinate the shared equity security and completion.
Alternatives
Because OMSE is currently closed, alternatives are not optional. Compare these routes before waiting for a reopening:
- New Supply Shared Equity: new-build homes from housing associations or councils, usually 60% to 80% buyer share.
- First Homes Fund: up to £10,000 support for eligible first-time buyers, subject to current rules.
- Shared Ownership Scotland: buy 25%, 50% or 75% and pay an occupancy charge on the rest.
- Standard mortgage options: simpler if deposit and affordability are strong enough.
How Extend Finance can help
Extend Finance can help with the mortgage side: affordability, lender choice, documents and understanding how the scheme affects the application. We do not decide scheme eligibility, allocate properties or approve the scheme application.
While OMSE is closed, we can help you prepare affordability, deposit and lender documents, then compare NSSE, First Homes Fund, shared ownership and standard mortgage options.
Official sources
Sources checked on 2026-07-07: mygov.scot OMSE overview, OMSE how it works, OMSE how to apply and gov.scot OMSE thresholds.
FAQ
Frequently asked questions
Is OMSE open now?
No. mygov.scot currently says OMSE is closed and the page will be updated if it reopens for the 2026/27 financial year.
Who can qualify for OMSE when it is open?
The official overview lists first-time buyers and priority groups such as social renters, disabled people, people aged 60 and over, armed forces members, recent veterans and certain bereaved partners of service personnel.
What share do buyers usually pay for?
The official how-it-works page says buyers usually pay for 60% to 90% of the home's cost, while the Scottish Government holds the remaining share.
Is there one OMSE property price cap?
No. gov.scot publishes area-based thresholds by apartment size, so the cap varies by location and property size.
Do I still need a mortgage?
Usually yes. The buyer share is normally funded by deposit plus mortgage, and the lender still checks affordability, credit profile, income and property details.
Can a broker submit or approve my OMSE application?
No. Extend Finance can help with the mortgage side and preparation, but the scheme administrator decides scheme eligibility and application status.