Tuesday, May 21, 2013
Fresh help for landowners and bankers
People across Scotland are to be helped on to the housing ladder with a Â£120 million funding boost announced today by Deputy First Minister Nicola Sturgeon. The funding will be available over the next two years to both first time buyers and existing homes owners who are buying a new build home. Buyers who successfully apply to use shared equity will be able to purchase a home by paying a majority share in it, while the Scottish Government pays the remaining amount under an agreement with the buyer. As well as helping house buyers the scheme will stimulate the construction industry, creating growth within the house building sector.