The Scottish Government has announced the introduction of the
Help to Buy (Scotland) Scheme which aims to help stimulate
Scotland's house-building industry and to help people to buy a new
build home in Scotland from a home builder who has been approved to
participate in the scheme.
Main points of the scheme:
- The scheme is only available on new build homes from
participating home builders and on homes up to a maximum value of
- A buyer's mortgage lender is likely to require that the buyer
contribute a deposit of 5% of the full purchase price and the
mortgage and deposit must cover a combined minimum of 80% of the
total purchase price.
- The Scottish Government will help buyers to purchase the
property and will take an equity stake of up to 20% of the value of
- The Scottish Government's equity stake can be repaid at any
- All applicants must seek the advice of an independent financial
advisor before applying to the scheme
- Typically the mortgage will be based on a multiple of up to 4.5
times the household income of a single person and up to 3.5 times
for a couple.
Full details of the scheme can be found on the Scottish
 The Scottish Government has a web page specifically for
housing financial advisers at Lender and IFA