With over a third of new homes outside of London being bought with the assistance of the government Help to Buy scheme, it goes to show the importance for young couples and families to be given help to step onto the property ladder.
That’s why the continuation of the Governments Help to Buy scheme is essential, not just to aid buyers but to allow builders to continue to provide quality homes for everyone.
Currently, the scheme is available on new build properties from participating home builders up to the value of £230,000, but after the 31st March 2017 to 31st March 2018, this will be reduced to £200,000.
How it works is that the Scottish Government will help buyers to purchase a property by taking an equity stake of up to a maximum of 15% of the value of the property, which means you would only require a 5% deposit and no annual interest is charged on your equity stake.
The scheme is only available to buyers who are unable to afford to purchase the property without the help of the Scottish Government, it is not available to a single person who would require a mortgage of 4.5 times their income.
If you are interested in Help to Buy (Scotland) please speak to one of our Sales Advisors on site at our developments who will be happy to help and can even direct you to an Independent Financial Advisor.
Many of our customers have already purchased a new home with the assistance of Help to Buy (Scotland) and many more buyers are enquiring about applying for Help to Buy (Scotland), find out about what properties are available with Help to Buy (Scotland) in the area you are interested in or check out our mortgage calculator on the website to see how much a new home mortgage would cost with Help to Buy (Scotland).