View more on these topics

Scotland unveils its own version of Help to Buy

The Scottish Government has today unveiled its own version of the Help to Buy equity loan scheme.

Around £220m has been allocated to help borrowers on to the housing ladder. The scheme will launch on 30 September and run for three years.

The scheme will be open to first-time buyers and existing homeowners buying a new-build home from participating home builders. The home must be a buyer’s only residence and they must not own another home, therefore ruling out the use of the scheme by buy-to-let investors.

Borrowers will be expected to contribute a minimum of 80 per cent of the purchase price on new-builds up to £400,000, with the Scottish government providing up to 20 per cent through an equity loan.

Deputy first minister Nicola Sturgeon says: “The Help to Buy (Scotland) scheme will not only help people to buy their first home, it will also help ‘second-steppers’ and others move to a new property.

“The scheme will also help support the housing industry alongside our commitment to investment in affordable housing across Scotland.”

Homes for Scotland chief executive Philip Hogg says the scheme could be “game changing”.

He says: “Increasing the range of options available to purchasers, we believe Help to Buy (Scotland) could be a game changing initiative, acting as the required catalyst to help reverse the downward trend we have witnessed in home building over the last five years.”

The UK government launched the first part of Help to Buy in April.

The scheme works in two parts; the first part came into effect in April as a shared equity scheme for new build homes. The second part, a £130bn mortgage indemnity scheme, which was first revealed by Mortgage Strategy in February, will come into force on January 1 for all properties worth up to £600,000.


MS Leader: Bubble and bubbly

Despite talk of a housing bubble forming in London last week, that did little to dampen the general mood at the Intermediary Mortgage Lenders Association’s annual bash in London last week. This year’s event was back at the Sheraton Park Lane Hotel, the same venue for the event a couple of years ago when the […]

MPC votes for no change to base rate or QE

The Bank of England’s Monetary Policy Committee voted unanimously to keep base rate at a record-low 0.5 per cent and the Bank’s programme of quantitative easing at £375bn. None of the committee members thought it appropriate to tighten the stance of monetary policy at this time, as none of the knockout conditions that would invalidate […]

Can UK companies satisfy global appetites?

By Mark Martin, Manager of Neptune UK Mid Cap Fund

Rapid economic and income growth is leading to a dramatic shift in diet towards protein products right around the globe. UK companies such as Genus, the world’s largest livestock breeder, are benefiting from this increasing demand. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses this investment theme.

Burnett: what needs to happen for value to start performing again?

Value stocks have significantly underperformed growth stocks in Europe in the past decade. However, Rob Burnett, manager of the Neptune European Opportunities Fund, believes we are now approaching an inflection point. Watch the video below to find out more. In the video, Rob discusses: How low inflation and loose monetary policy since the global financial […]


News and expert analysis straight to your inbox

Sign up