Open Market properties
Properties available to purchase through the First Home Choice, Open Market Scheme
The Department of Infrastructure has properties in our ownership that are available to First Time Buyers to purchase through the First Home Choice Shared Equity Scheme.
The First Home Choice Scheme provides assistance of up to 30% of the purchase price for properties purchased on the Open Market.
This Scheme allows for increased income levels and purchase prices, as shown in the table below, to enable greater flexibility in purchasing properties on the Open Market.
|Eligible Persons||Maximum Annual Income||Approved Dwelling Type(Subject to need)||Maximum Purchase Price|
|Single Persons||£35,000||Apartments and 2 bedroom house||Up to £165,000|
|Couples – no children||£55,000||Apartments and 2 or 3 bedroom house||Up to £175,000|
|Single or couple with 1 or more children||£60,000||2, 3 or 4 bedroom house||Up to £190,000|
Persons wishing to apply for assistance under the Scheme are required to complete an application form (see downloadable documents), which includes Explanatory Notes that provide more detailed guidance on the terms and conditions of assistance.
The Schemes are funded by an annual budget. As such, if demand is high, it may be necessary to close the Scheme to new Open Market applications from time to time, subject to budget availability.
Applicants should contact the Department to verify their eligibility for assistance, and availability of funding.
Sycamore Grove, Douglas.
For further information, and to arrange a property viewing please contact the Customer Services Team.
Telephone: +44 1624 685955 Please note that all calls will be recorded for quality and training purposes.