More than 1200 households have applied to the Scottish Government’s Help to Buy (Scotland) scheme, with over 200 already in new homes, since the scheme launched on September 30, 2013.
Official figures show that 1,205 applications were received by the New Year for the scheme, which provides financial support to make buying a home easier.
From the launch in September until January this year, 203 households have so far successfully gained a mortgage and bought new homes through the initiative.
Help to Buy (Scotland) is open to all first time buyers and to existing homeowners buying a new build home from participating home builders. To date, 109 house builders have signed up, with five lenders offering mortgages under the scheme.
In welcoming this news Falkirk West MSP Michael Matheson said:
“There is no doubt that for many people in the Falkirk area getting onto, or moving up the property ladder has become tougher in recent years, which is why the Help to Buy (Scotland) scheme is crucial in helping more households take that step.
“Large deposits are often a major barrier to would-be homeowners and it is fantastic to see the first results of our Help to Buy scheme, which has already helped almost 200 households throughout Scotland into home ownership since it launched in September.
“Help to Buy (Scotland) is not only helping people buy their first home, it also helps ‘second-steppers’ and others move to a new property and the popularity of the scheme is evident through the 1200 plus applications that have been received so far.
“The scheme is also helping stimulate economic growth by supporting our housing industry – alongside the Scottish Governments commitment to investing in affordable housing across Scotland, including a number of new developments locally.”
The Scottish Government is providing help to eligible buyers of up to 20 per cent of the purchase of a new build home from a participating house builder.