You are here: Home - News -

Scotland extends Help to Buy for two years

  • 04/04/2018
  • 0
The Scottish government will extend its Help to Buy scheme for a further two years taking it to April 2021 and matching the scheme in England.

Announcing the decision, housing minister Kevin Stewart said it had been used in more than 12,000 purchases since its launch in 2013 and also supported around 9,000 jobs in the country.

A sizeable chunk, around £18m of the £50m annual budget, will be set aside to be used on purchases from SME housebuilders, the Scottish government added.

The move was welcomed by trade body UK Finance Scotland Mortgage Committee chairman Douglas Cochrane.

“The extension of Help to Buy in Scotland is good news for buyers and home movers with low deposits, who will continue to receive vital support when buying a new-build home,” he said.

“Last year the number of first-time buyers in Scotland reached its highest level in a decade, boosted by vital schemes like Help to Buy.

“Today’s announcement will bring welcome stability to the Scottish mortgage market and help more people get a foot on the housing ladder in the years ahead.”

There are 0 Comment(s)

You may also be interested in

  • RT @VickyHartleyMS: Sunak doubles incentives to £3,000 to take on apprentices and offers £126m in 'new cash' to triple traineeships. One to…
  • RT @VickyHartleyMS: Watch out for breaking news coverage on the #Budget2021 this afternoon from the best UK mortgage and property journalis…

Read previous post:
Lettings plunge as prime London homeowners opt to sell after tax changes – Knight Frank

Homeowners in wealthy areas of London are opting to sell rather than let out properties, following buy-to-let tax and stamp...