Help To Buy hands first time buyers in west Scotland a boost

The latest figures from the Scottish Government show that 1,230 people in the west have used the scheme from June 2017 to June 2018, with the total value of homes in the area purchased using the scheme reaching £206 million. The average value of a home purchased using Help to Buy (Scotland) in Glasgow was £167,700.

Across Scotland, there were 2,290 sales using Help to Buy (Scotland) over the past year, with an average purchase price of £170,300.

Estelle Sykes, sales director for Barratt Homes said the scheme has proved invaluable for first time buyers.

“While Help to Buy has been available to first time buyers and those moving up the housing ladder for five years now, the statistics show that it remains a popular source of financial support for home buyers,” said Estelle.

“It’s vital that we keep spreading the word that buyers need just a five per cent deposit to buy a new home so we can help even more first time buyers this year.”

Help to Buy (Scotland) has been used by more than 12,000 households since it was launched in 2013 with 66 per cent of the homes going to first time buyers.

It allows first-time buyers and home movers to purchase new-build homes with deposits of just 5 per cent.

The Scottish Government will lend you up to 15% of the property value, up to £200,000 through an equity loan until 2021.