Help for first-time buyers

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First-time buyers are being helped on to the housing ladder thanks to a cash boost of over £10m to the Open Market Shared Equity Scheme.

Infrastructure and Capital Investment Committee member Aileen McLeod has hailed news of the Scottish government’s extra cash which has doubled funding for the scheme.

Dr McLeod, MSP for South Scotland, said it was welcome news that applications will be accepted from all first-time buyers, as previously only priority groups were eligible.

She said: “The Open Market Shared Equity Scheme is a fantastic programme that allows people to pay for between 60 and 90 percent of their home, with the government funding the remaining amount.

“Thanks to this extra funding from the Scottish government, first-time buyers will now be able to apply for the scheme, helping them on to the property ladder.

“This is the first time the scheme has opened up its criteria of eligibility, allowing more people to apply.

“The government is committed to helping people into the housing market for the first time, which is why it has doubled the fund.

“The New Supply Shared Equity Scheme and the New Supply Shared Equity with Developers Scheme are also assisting people to purchase their first home.

“Everyone should have a safe, warm home which they can afford and these schemes are helping to achieve that vision.”