16th September 2015

Holyrood Unveils Help to Buy Successors Scheme

Readers of previous blogs know I have been very critical of the Scottish Governments approach to the property market.  I was very pleased however to hear more details of its plans to spend £195m over the next three years on a successor to the existing Help to Buy (Scotland) Scheme.  The scheme will focus on affordable homes with eligible buyers receiving an equity loan towards the purchase price of a new build home.  The Scottish Government will work with the house building industry and lenders to agree on how the new scheme will operate. I believe this is a very positive move and should be welcomed.

I would urge the Scottish Government to go further and roll out the scheme to assist first time buyers purchasing non new build properties up to a certain value.  Not only would this fulfil the Scottish Government’s pledges in relation to improving Scotland’s housing stock by encouraging people to buy low end properties, it would also be a welcome boost to the housing market and would have huge social and economic benefits.  I will continue to press the Scottish Government to look at this type of scheme.

Lindsay Darroch
Partner – Head of Property

 

 

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