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Furlough Scheme must flex to support recovery

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Scottish Government releases Help to Buy guidance

Wednesday 22 April 2020

To help people to buy a new build home in Scotland, new guidance has been issued for builders which is a positive measure for the housing market.

Help to Buy (Scotland) is a shared equity scheme, which first launched in September 2013, and was aimed at supporting Scotland’s house-building industry following the financial crisis. It isn’t available for part-exchange, buy-to-let, or self-build properties. 

The scheme is made up of two parts - the Affordable New Build and the Smaller Developers schemes. The schemes currently provide up to 15 per cent equity towards the purchase of new-build homes up to a value of £200,000. 

The new guidance offers advice on: 

  • Maximum purchase prices and allocated budgets 
  • Registering for the scheme 
  • Guidance for home builders 
  • General rules
  • Warranties
  • Reservation Fees 
  • Participation Agreement 
  • Scheme criteria 
  • Help to Buy branding 

The new guidance