As readers of previous blogs will know I have been campaigning vociferously for the government both Scottish and UK to take urgent action to assist first time buyers. I was delighted to hear the announcement from the Scottish Government of their backing for a three year national Mortgage Indemnity Scheme developed by home building industry body Homes for Scotland. This project is for first time buyers purchasing new build properties up to a maximum price I understand of £250,000. I think this is a welcome move for both the housing market and the construction industry which is fundamental to the economic recovery. I am disappointed that the Scheme is not open for all first time buyers and is limited to new build properties but I think it is still a very welcome step in the right direction. I will advise you of more details as and when I get them.
Lindsay Darroch Partner
Head of Property