As the LIFT, Low Cost Initiative for First Time Buyers, rolls out across Scotland more and more people will hear about the scheme which has been brought in by the Scottish Government to help those on low incomes purchase a home. You may have heard of the previous scheme called homestake, this helped many families buy a home. This new scheme has been piloted in Edinburgh and central regions and other areas of Scotland and is now being introduced in other parts of our country. As far as I am aware low incomes are those that are financially constrained which you’ll have to prove by releasing all your financial information. The wonderful thing about getting on the LIFT scheme and getting a lift mortgage is that you avoid the difficulties everyone else is experiencing trying to get a mortgage at the moment, the big hurdle, deposit. Eighteen months ago you could get a mortgage without a deposit, these disappeared as the recession kicked in and gradually deposit requirements started rising with the minimum for most being around twenty per cent. Crazy! Lift mortgages would allow you to buy a property; there are limitations on how much you can pay depending on your room requirements, with the help of one of the appointed social landlords. Social landlords run the scheme after being approved by the Scottish Government. Check the social landlords to see if there is one operating in your area if not there may will one soon. If you are not sure whether you will be classed as on a low income there would be no harm in applying, you will go through a ‘means testing’. You will be expected to contribute the maximum mortgage that you are able to get as well as personal contributions; you are however allowed to keep five thousand pounds of your money. To get a lift mortgage you have to meet the criteria that is set out but you also have to be quick as the social landlord approval letter is only valid for twelve weeks, so start your house search as soon as possible so the home you after doesn’t slip through your fingers!