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Help to Buy in Scotland

Can you afford to pay the monthly mortgage repayments but you don’t have the money for a deposit of more than 5%? If that’s the case then you might want to consider taking advantage of the Help to Buy scheme available in Scotland.

Whether you’re buying for the first time or moving home, if you'd like to buy a new build property but you're struggling to get together a big enough deposit, there are two schemes that you may be interested in; Affordable New Build and the Smaller Developer scheme, but the rules for both are exactly the same.

Affordable New Build and Smaller Developer

The Help to Buy schemes can help you with up to 15% towards the price of a new build home. 

Before applying for the scheme, make sure you understand the following:

  • Your mortgage and deposit needs to come to a minimum of 85% of the purchase price
  • Only available on houses up to £200,000 (for purchases until the end of March 2021)
  • Only open to participating homebuilders - click here to see the list
  • You've spoken to a mortgage adviser before you apply
  • You'll need to have a repayment mortgage, not an interest-only mortgage

The Scottish government is entitled to its money back, plus a share in future sale proceeds of the property equal to the percentage contribution it made to assist with your purchase of the property. This type of loan is known as ‘Shared Equity’.

Terms and conditions of the scheme

When you sell your home or come to the end of your mortgage term- whichever comes first - you'll have to pay back the equity loan. This can be paid back at any time and with no annual interest.

There are other Help to Buy Schemes available in the UK that have slightly different rules. To discuss the right option for you, please get in touch and one of our advisers will be happy to guide you through the process.


*Please note the Help to Buy (Scotland) is subject to change at any time.

Because we play by the book we want to tell you that…

Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

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