Help to Buy (Scotland)
Help to Buy allows you to purchase a brand new home in Scotland with just 5% deposit and an affordable mortgage, with assistance from the Scottish Government.
Help to Buy gives you the chance to buy a new home with the assistance of an equity stake. The value of the stake is a maximum of 15% of the full price of the property. The maximum full purchase price is set at £200,000. Help to Buy is open to all buyers including existing home owners and first time buyers.
Under Help to Buy, the government provides an equity stake as follows:
- The Scottish Government provides an equity stake of up to 15%
- You arrange a mortgage for up to 80%
- Meaning your deposit is just 5%
Download our guide for full details:
To be eligible for Help to Buy, you should:
- Be a home buyer looking to buy a new build home
- Be able to demonstrate access to savings or funds to pay a deposit of 5% plus usual cost of moving home which includes legal fees and stamp duty
- Have a good credit history
- Take out a mortgage with a qualified lender (e.g. a bank or building society)
Available at the following locations
Help to Buy (Scotland) is only available on selected homes at selected developments in Scotland up to a value of £200,000. Eligible applicants will be offered an equity stake of up to a maximum of 15% of the full market price. The Scottish Government will hold the second charge on the property. Applicants are required to fund at least 85% of the purchase price by means of a mortgage and any deposit where required. There is no fee charged on the equity stake component. The equity stake is provided by the Homes and Communities Agency and developer as a second charge. Your home may be repossessed if you do not keep up your repayments on your mortgage. Help to Buy is not available for part-exchange or buy-to-let.