Help to Buy (Scotland)
The Help to Buy (Scotland) scheme means people can purchase a new-build home without the need for a large deposit.
Help to Buy (Scotland): Affordable New Build and Smaller Developers Schemes will provide £195 million of funding over the next three years, and help around 6,500 households to buy a new-build home.
We worked closely with the housebuilding industry, and lenders, to agree how the scheme will operate.
This funding, in combination with our original Help to Buy scheme, means we will help around 14,000 households to buy new-build homes. And the housebuilding industry will have received around half a billion pounds of support over six years.
How to apply for the Help to Buy (Scotland): affordable new build scheme is on the mygov.scot site.
Guidance for homebuying professionals
We have produced documentation and guidance for professionals using the Help to Buy (Scotland) scheme:
Funding and monitoring information
We collect information to monitor the Help to Buy (Scotland) Fund. An analysis of this information is available in the monitoring information report.
The analysis is broken down by broader geographic area and local authority. Some small numbers have been suppressed to avoid disclosure. Quarters 3 and 4 (2013 to 2014) have also been combined for this reason.
Sales are recorded as at date of entry; this typically occurs some months after an Authority to Proceed notice has been issued. Figures may not sum to total due to rounding and revisions that have been made to past quarters.
The key points at the Scottish level are as follows:
In the financial year 2013 to 2014, following the launch of the scheme in September 2013, 750 sales were completed through the scheme with a total of £28 million of Scottish Government funding. The average Scottish Government equity stake was £37,000, while the average purchase price of a house bought through the scheme was £188,000.
In 2014 to 2015, 3,690 sales were completed with £149 million of Scottish Government funding. The average Scottish Government equity stake was £40,000 and the average purchase price was £203,000.
In 2015 to 2016, 3,600 sales were completed with £130 million of Scottish Government funding. The average Scottish Government equity stake was £37,000 and the average purchase price was £186,000.
From the launch of the scheme until March 2016, around 8,160 homeowners benefitted from total of £314 million Scottish Government funding. The average Scottish Government equity stake was £38,000 and the average purchase price was around £190,000