Online forms: LIFT Open Market Shared Equity Application Form

Please make sure you have all the information below to hand so you can submit it with/at the same time as your application form.  This information must be provided for all householders so that we can assess your application.  Any missing information will result in the assessment of your application being delayed. 

Please do not send any paper by post as it will not be opened. All supporting information must be uploaded with your application or emailed to: lift@linksharedequity.co.uk

The apartment size restriction has now been removed so clients can buy a property larger than their need, if they wish to do so. 

 

Application Help Notes

Please take a few minutes to read over these help notes. To help us process your application as quickly as possible, please ensure you send copies of the documents we need. There are 2 ways you can submit your documentation to us.

1) You can upload up to 8 separate documents as part of this online form.

2) You can email your documents to lift@linksharedequity.co.uk.  Please note the largest file size we can accept is 5MB. If your documents exceed this, please send them through in separate emails.

If your partner will be residing with you as part of the household, their details MUST be provided as second applicant on the applicant form and relevant evidence provided. This also applies even if your mortgage will only be in one name.  The same will apply for other adults who will be permanently residing in the new home, such as parents, siblings, other relatives or friends.

If you are an IFA completing this for your client, you will be asked to upload a signed mandate with the supporting documents. 

Wages & income

For people applying over the age of 60 years who do not intent to take a mortgage  the following income evidence will not be required. We need to verify your total household income. This includes your partner (if you have one). For this we need copies of your last 3 monthly payslips, or last 12 if you are weekly paid. If you are self employed please provide a copy of your self assessment billing notice or receipt for the last financial year. If you receive any benefit payments (for example Working Family Tax Credit, Universal Credit or Employment Support Allowance) please provide a copy of your current award notice.

Savings  

Please provide copies of your last 3 months statements for your current account and any savings account you have, or similar, confirming any savings you have – this includes premium bonds, shares, ISAs or any other savings accounts, or note on the form any cash amounts you have or will receive from relatives for example, and provide written confirmation from them.  We will also require evidence of any equity received from the sale of a property, if applicable.

Present accommodation

Please provide a copy of your tenancy agreement or lease. If you stay with a friend or relative please provide a letter from that person confirming you are resident at that address. If you own your current home and have a need to move to more suitable accommodation due to a disability, please provide details of its present value from an estate agent, or a Home Report if it is already on the market. We also need to see a current mortgage redemption statement from your current lender.

We require details of why your present home is unsuitable, therefore please provide a letter from a health care professional (such as a doctor, Consultant or occupational therapist) stating why your current home is unsuitable.

Mortgage offers

Before applying, you need to know how much you may be able to obtain from a lender. Most lenders will require a deposit and you will therefore need sufficient savings in order to supply this. The deposit is usually a minimum of 5 percent of the mortgage you are taking. Please make sure you receive good independent financial advice when applying to the scheme as lending criteria may differ between the different lenders.

Please provide us with a copy of one mortgage decision in principle.  

If you are over 60 years old and applying without a mortgage, you do not need to provide a  decision in principle.

Your email address

To allow us to send you an acknowledgement that we have received your application form, please provide your personal email address.  We will also use this address to correspond with you during the assessment process. This email address should be for the applicant and not your financial advisor or Solicitors.

Further information

Further information can be found on this Buyers Information guide - https://www.gov.scot/publications/open-market-shared-equity-scheme-buyer-information-leaflet/

If you require any further information please contact us on 0330 303 0125 or by email at lift@linksharedequity.co.uk. Further information is also available on the Scottish Government’s website: http://www.gov.scot/LIFT.

You can find Scottish Government privacy notice here: https://www.gov.scot/publications/shared-equity-schemes-privacy-notice/