Caithness Map :: Links to Site Map Great value Unlimited Broadband from an award winning provider  

 

Help To Buy A Home

18th December 2019

Thousands of first-time buyers assisted.

Applications are open for a new national pilot scheme helping first-time buyers with the deposit for a new home.

The Scottish Government's First Home Fund will make the housing market fairer by providing a total of £150 million until March 2021 to help at least 6,000 people to buy their first home.

Existing home ownership schemes have helped more than 32,000 households in Scotland buy their own home since 2007, particularly those aged under 35.

First Minister Nicola Sturgeon said:"For many people, getting a deposit together is often an obstacle in buying their first home. Removing barriers and supporting people to buy the home they want is at the heart of this new fund. That is why we are acting to make the process fairer, to offer a helping hand to those buying a new home.

"The First Home Fund will provide first-time buyers with up to £25,000 towards the cost of buying a home that meets their needs and is located in the area where they want to live.

"Since 2007, the Scottish Government has provided more than £1.2 billion in shared equity schemes, which have helped tens of thousands of people into home ownership, particularly those aged under 35 and this new scheme adds to the support we are providing."

Louisa Harper, from Edinburgh, who bought a new flat through the Help to Buy scheme, said:"I purchased my property via the Help to Buy scheme in 2018. The scheme enabled me to get on the property ladder a lot earlier as I only needed to save a 5% deposit. Before purchasing my flat I was caught in a vicious cycle paying expensive rent prices that meant I had little income left over to save.

"Alongside this, the properties I rented often only offered short term leases which meant my son and I moved around a lot. When I purchased my property I had not long graduated from university so was still in the early stages of shaping my career.

“Without Help to Buy, I would not be where I am now and it has enabled me to become a home owner at the age of 24 whilst allowing me to create a safe, loving and consistent home for my son."

Shadrech Chipwatali, from Livingston, a former member of the armed forces who bought through the existing Open Market Shared Equity Scheme, said:"This scheme gave us an option to get a house of our own when we least expected it and the process is very simple, quick and straightforward. As a member of the armed forces, it was especially ideal as the Low-cost Initiative for First Time Buyers (LIFT) scheme gave me an option to buy a house from an area of my choice. This meant my transition from army life to civilian was already sorted."

Nicola Barclay, Chief Executive of industry body Homes for Scotland, said:“Home ownership remains the preferred choice of tenure for the majority of Scots. Though they can sustainably manage monthly mortgage payments, getting the deposit together remains a challenge for many. Initiatives such as this and Help to Buy are crucial, not only in helping people achieve their housing aspirations but also in helping to relieve pressures on the social and private rented sectors."

The First Home Fund will run from 18 December 2019 until March 2021 - See details at www.gov.scot/policies/homeowners/first-home-fund/

 

Related Businesses

 

Related Articles

Planning Permission & Building Warrant - Advice From ThermohausThumbnail for article : Planning Permission & Building Warrant - Advice From Thermohaus
The latest article on building your own house from Thermohaus.   See links below for all the earlier articles.  
House Design Advice From ThermohausThumbnail for article : House Design Advice From Thermohaus
What are the elements of a good design? Who is going to design your new house? Do you need an architect? There are number of constraints on design: Standard House Types Most self-build package providers offer standard house designs but you need to be sure they suit both your site and personal needs.  This said, most providers will either modify their standard designs or create bespoke designs.  
Finding and Buying Land For Your Self Build HomeThumbnail for article : Finding and Buying Land For Your Self Build Home
Finding a suitable plot to build your house in Caithness should be relatively simple! When you've found your plot then you can design the house to suit that plot.  For more information on house design take a look at the Thermohaus Design Guide Most people will want to live in a specific part of the county due, perhaps, to work commitments / travel to work considerations, family ties or simply because it's somewhere they know and like.  
How To Finance Your Self-build New HomeThumbnail for article : How To Finance Your Self-build New Home
If you need to raise finance for your project it is usual to seek a ‘self-build mortgage'.   Mortgages for self-build houses are a specialist product and many lenders do not offer them.  
Can You Afford To Build Your Own Home?Thumbnail for article : Can You Afford To Build Your Own Home?
Before you begin planning your new home it is imperative you set a budget.  And, as your build progresses, you must monitor the spend to ensure you stay within budget.  
Building Your Own Home Is Easier Than You May ThinkThumbnail for article : Building Your Own Home Is Easier Than You May Think
Today we begin a series of articles written by Peter Body of Thermohaus Ltd , a Caithness based timber frame kit home company.   Why Self-Build? For decades the British have bought new homes as standard speculatively built products from national and regional house builders.  
Self-build expert in Caithness launches new eco home conceptThumbnail for article : Self-build expert in Caithness launches new eco home concept
Caithness based chartered surveyor Peter Body has been designing, manufacturing and project managing self-build homes for 35 years.  And, according to him, this experience can be distilled into just two pieces of advice to self-builders - keep it simple and think fabric first.  

[Printer Friendly Version]