What is Help to Buy Scotland?
The Help to Buy (Scotland) scheme helps buyers to buy a new build home from a participating home builder without having to fund all of the purchase price. Below are illustrations of just how affordable properties at our prestigious developments could become with Help to Buy:
Old Glamis Road - Example
| Full Purchase Price | £165,000 |
| Purchaser’s Deposit 5% of Full Purchase Price | £8,250 |
| 20% Equity Share held by the Government | £33,000 |
| Shared Equity Price | £132,000 |
| Mortgage amount | £123,750 |
| 30 Year Repayment Term | |
| Monthly Repayment | £452.44 |
See Full Illustration
For further information, contact our sales team:
Angela m. 07872 376576
Areej m. 07449830610
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Scheme Outline
Here's a short summary of how the Help to Buy (Scotland) scheme works:
- The scheme is only available on new build homes from participating home builders and on homes up to a maximum value of £200,000
- Your mortgage lender is likely to require you contribute a deposit of around 5% and your mortgage and deposit must cover a combined minimum 80% of the total purchase price. Your mortgage from a qualifying lender must be a repayment mortgage and you are not permitted to buy a Help to Buy (Scotland) scheme property with an interest-only first mortgage.
- 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 property
- The Scottish Government’s equity stake can be repaid at any time.
If you are interested in the scheme, what should you do?
- Read the information leaflet for buyers. This will provide you with vital information on how the scheme operates.
