LIFT scheme - please advise!

[Daffodilspring]

Hello,

Looking for anybody with any experience of using the LIFT scheme in Scotland to buy a home?

We currently rent through local authority (housing association) and hoping to buy at some point soon. Would be looking to buy on the open market and NOT a newbuild. I've been looking into the LIFT scheme and my head is scrambled! A few questions:

If our agreement in principle is higher than the LIFT threshold does that automatically disqualify you? For reference, our AIP came back at £259k (more than we were expecting!) However the threshold for our area on LIFT for apartment 4 is £135k. We would NOT be looking for properties in the £259k bracket as the monthly payment would be way too high and also we wouldn't have deposit for that! Does not having the deposit meet the requirement for LIFT? As at the moment we only have £7k in savings...

Would I be wasting my time applying for LIFT if AIP is too high?

Alternatively, should I apply for AIP and LIFT as sole applicant instead? We are a couple with a child but are not married. My income is £27k, partners is £35k.

Any help or insight would be greatly appreciated!

Bump

The LIFT scheme in Scotland helps first-time buyers by covering 10–40% of a home’s cost, while you pay the rest via mortgage and deposit. You repay the government’s share when you sell, though you can buy more of the property over time. Check local price limits and eligibility, as it’s only for Scotland. It’s a great way to get on the property ladder if you struggle to afford a home outright.

Deltarune

Hi thank you for your response.

Sorry I have another question, if you pay the deposit is that a deposit on the full cost of the property i.e 10% of the total property price, or would it be 10% on the amount that you are mortgaging (for example the government has 30% share and I have 70% share, is the deposit then only 10% of my 70% share?) Hope that question makes sense!