An extra £40 million will be invested in a scheme that helps people get on the housing ladder for the first time or move to a new property, Deputy First Minister
This latest financial boost brings the overall investment to £275 million investment that has brought much needed financial support to the Scottish construction sector.
The scheme helps people to buy a new-build house from a participating home builder without having to fund all of the purchase price. The buyer is required to contribute a five per cent deposit, with the
The buyer then receives the outstanding sum through a repayment mortgage from a participating lender, repaying the
So far a total of 156 house-builders have signed up for the initiative, with six mortgage lenders offering mortgages to buyers wanting to benefit from it.
Ms Sturgeon said:
This additional £40 million funding will allow more people in
Since it launched in September last year, our Help to Buy scheme has already helped over 1000 households into home ownership and this additional funding will benefit even more families.
It is also bringing much needed economic growth to
A significant proportion of new homes are now sold through Help to Buy, delivering on the
Additional investment, such as that announced today, and longer term support assisting developers with investment planning will help the industry to, quite literally, build on the scheme s initial success and step up production to the levels required to meet housing need across all tenures.
But this welcome boost for Help to Buy (
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