The Scottish Government has recently announced that the price cap on properties eligible for the Help to Buy scheme will remain at £200,000 in 2018/19. The scheme helps eligible householders buy a new build home from a participating builder by contributing up to a maximum 15% equity stake in the property. The aim behind the Scheme is to help more families onto the property ladder.
The Government says that by keeping the maximum property value eligible for the scheme at £200,000 from 1 April 2017 until March 2019, the scheme will help as many people across as many geographic locations as possible.
“We want to help people get on or up the housing ladder and Scotland’s Help to Buy Scheme gives a helping hand to thousands of people” explained Housing Minister Kevin Stewart.”
“We want to make home ownership as accessible as possible- with a particular focus on helping people to buy affordable new-build homes.”
“We know, however, that prices of property-and what constitutes affordable- can fluctuate massively across different parts of the country,” he said.
“That is why I have decided to retain the price cap on homes across, urban, rural and small towns in Scotland.”