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The key to buying your new home

 

Owning the home you’ve always dreamed about can sometimes feel a little out of reach, but with Help to Buy (Scotland) 2018/20 Government backed initiative, you can own your home with for as little as a 5% deposit.

Help to Buy (Scotland) shared equity scheme is available to all buyers and not just first time buyers and can help you purchase your new home with an equity stake of up to 15% of the value of the property which means you can secure your dream Ogilvie Home with just a 5% deposit.

 

The Scottish Government scheme helps you to buy a new build property in Scotland without having to fund all of the purchase price.

In Short…

• Help to Buy (Scotland) is only available for new build properties

• You will be required to contribute a minimum deposit of 5% of the full purchase price

• The Scottish Government will help you purchase your property by taking an equity stake of up to 15% of the full property price

• You arrange a mortgage for up to 80%

• Available on homes up to the value of £200,000

 

Help to Buy (Scotland), an equity stake of up to 15% held by Scottish Government, is available on all our new build properties whether apartments or houses up to the value of £200,000. The only exceptions are that this must be your primary home, you are not buying to let and you are free to buy.

In Short…

• Open to buyers seeking to purchase a new build home

• The home must be your only residence

• You must not own another property

• You must sell your current property before entering the scheme

• You must have the funds available for a minimum 5% deposit

• You will still be required to pay Stamp Duty (where applicable), legal fees, registration fees and any reservation costs.

 

Although you will own the property outright, the interests of the Scottish Government will be secured by a mortgage (or ‘standard security’ as it is known in Scotland) on your property.

 

Example

Purchase price of new home £150,000 100%
Mortgage obtained by buyer £120,000 80%
Buyer pays 5% deposit £7,500 5%
Total contribution from buyer £127,500 85%
Scottish Government Assistance of 20% Equity loan £22,500 15%

 

All you need is a minimum 5% deposit and providing you meet the normal standard criteria and credit checks
you could be moving into your new Ogilvie home in no time.

Call in and speak to one of our advisors at your chosen development and we will put you in touch with an Independent Financial Advisor who will advise you on mortgage availability.

For further information on this or any other incentive telephone 01786 811811.

 

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