Help to Buy successor to have affordable homes focus

Plans for a successor to the Help to Buy scheme in Scotland were announced today by the Scottish Government, with a focus on affordable homes.

Ministers will spend £195m over the next three years on a new shared equity scheme which is expected to help around 6,500 households buy a new-build home.

Eligible buyers will receive an equity loan towards the purchase price of a new-build home.

There will also be ongoing support for small developers, building on the Small Developers scheme, launched in January.

Work continues with the housebuilding industry and lenders to agree on how the new scheme will operate. Further details will be announced following the UK Government’s spending review in November.