SCOTTISH GOVERNMENT LAUNCH NEW FIRST HOME FUND TO SUPPORT FIRST TIME BUYERS

The Scottish government lost month launched a brand new initiative to support first time buyers in the form of their new First Home Fund.

The scheme will contribute up to £25,000 towards the cost of buying. Property through a shared equity scheme and aims to help 6,000 people between now and March 31st. It will also operate alongside existing government home-buying initiatives such as Help-to-buy ISA’s.

In essence, first-time buyers looking to enter the property market will be able to apply for up to £25,000 to help them buy a property.

Only available in Scotland, the fund is available to purchase both new build and second-hand residential properties making it perfect for those looking at City Garden Apartments.

It is a shared equity scheme, which means the purchase cost is split between the buyer and the Scottish government. Those intending to apply will need a minimum deposit of 5% and the mortgage must be at least 25% of the purchase price.

You can get more information on the programme HERE.

If you want to know more about how the scheme can work for you in relation to City Garden Apartments, please feel free to contact our sales team HERE.

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