Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Scottish Government extends Help to Buy scheme to 2021

(Getty Images)
(Getty Images)

 

A SCHEME to help people buy a new-build home is to be extended for a further two years.

The Scottish Government is to invest an additional £100 million in its Help to Buy programme from April 2019.

The extension will assist up to 4,000 people looking to purchase a property without the need for a large deposit.

Since its launch in 2013 more than 12,000 households have benefited from the scheme, the government said.

Housing Minister Kevin Stewart said it had also supported around 9,000 jobs.

He said: “A third of the annual £50 million budget – £18 million – will be reserved for sales from SME builders, who were particularly affected by the drop in development finance after the financial crisis.

“We know house builders still see Scotland as a place to continue to develop and invest, with the latest figures showing new house completions grew by 5% over the last year.

“Housing is about more than bricks and mortar – we want to provide safe, warm homes, help create a fairer Scotland, and preserve a diverse and more resilient construction sector.”

Nicola Barclay, chief executive of the home building industry body Homes for Scotland, welcomed the announcement.

She said: “It clearly demonstrates that the Scottish Government supports the aspiration of home ownership and recognises the real challenge that continues to face prospective buyers in terms of the size of deposit they require to achieve this goal.

“This additional funding will provide our member companies with the certainty they need to invest in and open up new sites and expand the number of homes available to new purchasers.

“Crucially, just as the scheme’s extension will ensure even more people can buy a home, it will also ease pressure in other parts of the housing market as people move into home ownership from socially rented homes and come off council house waiting lists.”