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
www.blackadders.co.uk  

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s