There has been much confusion about the various Help to Buy schemes available throughout the UK. Although the mortgage guarantee scheme is available in Scotland and backed by central government, the Scottish government has launched their own shared equity scheme.
Help to Buy Scotland is a shared equity scheme which helps first time buyers and existing home owners get new build homes from participating builders. Applicants will require a 5% deposit and the Scottish government will take a 20% equity share of the value of the property. Unlike England, the Scottish government scheme doesn’t charge any interest on the equity share.
Don’t try to figure it all out yourself – why not ask Neilsons Solicitors & Estate Agents for a no obligation consultation. We can chat to you about your own circumstances and help you decide the best route for your next house purchase. Don’t move home without us!