Monday, April 12, 2021
UK

Government relaunches scheme for Scottish first-time buyers

Scottish

The scheme is open to all first-time buyers in Scotland and can be used to help buy both new build and existing properties

First-time buyers in Scotland are being given a helping hand onto the property ladder with the relaunch of a government scheme.

The First Home Fund is a shared equity scheme which first launched in December 2019 and gives buyers up to £25,000 towards the cost of buying a property .

A total of £60 million funding will be made available between now and March 2022, which the Scottish Government says will help around 12,000 first-time buyers purchase a home.

The scheme is open to all first-time buyers in Scotland and can be used to help buy both new build and existing properties.

The fund will close to new applications when the 2021/22 £60m budget has been used up.

Advice on GOV.UK states: No notice will be provided in advance of closure. Any applications received after the budget has been exhausted will not be processed.

Leading independent housebuilder Dandara is fully registered with the First Home Fund and is looking forward to the relaunch of the scheme as it has already received many enquiries at www.dandara.com about properties in locations including Aberdeen, Edinburgh, North Berwick, Eskbank and The Lothians.

Commenting on the relaunch, Iain Innes, Managing Director at Dandara East Scotland said: The First Home Fund will act as a lifeline for first-time buyers in Scotland as they look to find a more affordable way onto the property ladder. It’s a really great scheme and one we can see is already going to do well at our new homes developments throughout Scotland.

Innes said: We would encourage first-time buyers looking to take advantage of the First Home Fund to start doing their research straight away. Given this opportunity of financial support to get on the property ladder, the scheme is undoubtedly going to appeal and first-time buyers in Scotland won’t want to miss out.

Important:

The articles are for information purposes only and Invest for Property shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Invest for Property does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply

one × 5 =