The Help to Buy (Scotland) scheme is designed to help buyers buy a new build home with as little as 5% deposit.
Here’s a short summary of how the Help to Buy (Scotland) scheme works:
- The scheme is only available on new build homes from participating home builders and on homes up to a maximum value of £400,000
- A buyer’s mortgage lender is likely to require that the buyer contribute a deposit of 5% of the full purchase price and the mortgage and deposit must cover a combined minimum of 80% of the total purchase price.
- The Scottish Government will help buyers to purchase the property and will take an equity stake of up to 20%of the value of the property
- The Scottish Government’s equity stake can be repaid at any time
Application has to be made to the government to secure your Help to Buy deposit. Our advisers will assist you to complete the Help to Buy application form, the Adviser will also liaise with the property developer and Local Authorities to process your application.
Once the funds have been approved, the mortgage adviser will work with you to find the most suitable Help to Buy mortgage for your needs after assessing your requirements and the adviser will be there every step of the way until you are ready to collect the keys to your new home.
For further information on the Help to Buy scheme, please compete the enquiry form and one of our mortgage advisers will call you back. Alternatively, you can call us on 0131 523 1447.
We normally charge a fee for mortgage advice, however this will be dependent on your circumstances. Our typical fee is £295.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE