Help To Buy Supports Thousands Of Scottish Households - Neil

Over 8,000 home buyers have received support to purchase their own household through the Help to Buy (Scotland) scheme, according to Social Justice Secretary Alex Neil.

The Scottish Government has invested £500 million to help first time buyers and home owners buy a new-build home since 2013.

The original Help to Buy scheme will continue to support completions until mid-April with funds drawn down by the end of March, while its successor scheme, Help to Buy (Scotland) Affordable Home Ownership, will run until 2019.

It is expected this six-year investment period will help up to 15,000 households across the county and support jobs in the construction sector.


Social Justice Secretary Alex Neil said: "With 8,000 households now helped to buy their own home and with the new scheme expected to support up to 7,500 more individuals and families to own a new home over the next three years, Help to Buy (Scotland) is making a real difference to people in Scotland.

"By targeting our resources at affordable homes our new scheme is tackling inequalities and widening access to home ownership, plus providing the private sector and construction industry with a huge boost."

In addition, Chief Executive of Homes for Scotland (HfS), Nicola Barclay, said the statistics "clearly highlight the demand" that exists for the Help to Buy scheme.

"As the next tranche of funding is expected to support up to a further 7,500 individuals and families, the scheme's positive impact will continue to be felt in terms of its ability to stimulate employment and the wider economy," she added.

"Given the close interconnections between sectors, the scheme has also helped to deliver affordable housing through the direct contribution made through the planning system."

(LM/JP)