Help to Buy (Scotland) has been launched by the Scottish Government this week, and Story Homes’ developments in Scotland are eligible. Help to Buy (Scotland) is a shared equity scheme, designed to help people get onto and up the housing ladder.
The scheme will run for three years and helps eligible buyers with an equity loan of up to 20% of the purchase price of a new-build home. Buyers will have to raise a 5% deposit and obtain a mortgage for 75%. The loan is interest free for the first five years and Help to Buy (Scotland) is open to all first time buyers and existing homeowners who are buying a new build home.
Story Homes Summerpark development in Dumfries can offer buyers a range of stunning, high specification two, three and four bedroom properties. The homes range from detached to semi detached and terraced. Summerpark is a growing community, with high quality sandstone, render and brick.
Louise McGuckin, Head of Sales said: “Help to Buy (Scotland) offers a great opportunity for first time buyers and those who are looking to move up the ladder to buy a new build home. Anybody who has a smaller deposit can make the most of the government loan but still own 100% of their own home. The Help to Buy product has seen numerous happy customers in England purchase their dream Story Home and we are delighted to offer the same opportunity in Scotland.”
Help to Buy (Scotland) is similar to the UK government’s Help to Buy scheme, which has been operating in England since April. The home must be a buyer’s only residence and they must not own another home. An eligible buyer will be expected to contribute a minimum of 80% of the cost of the new-build home and the shared equity scheme will apply to homes worth up to £400,000 in Scotland.
To find out more about Help to Buy (Scotland) click here. To find out more about Summerpark in Dumfries visit our development page or call Ann and Fiona on 01387 259146 or 07966 496184.