Message on behalf of the Scottish Government 

Due to the impact of Coronavirus on settlement timescales, the deadline to settle all transactions that were due to settle earlier for Help to Buy is 31 March 2021 at the latest.  A revised Award Letter or Authority to Proceed is not required.

Missives must be concluded within three months of approval to Help to Buy. Due to the impact of Coronavirus, the deadline to conclude missives that were due to settle before end September 2020 has been extended to 30 September 2020, and there will be no further extensions beyond this date. If the missives were due to conclude by 30 September 2020 and they do not, the applicant must re-apply to the scheme. 

 

The Scottish Government's Help to Buy (Scotland) Affordable New Build Scheme helps first-time buyers and current owners purchase a new build home through a shared equity agreement.

The Help to Buy (Scotland) scheme helps you buy a new-build property from a participating house builder with a loan of up to 15% of the property price from the Scottish Government. Buyers must be able to fund at least 85% of the purchase price of a selected property through a combination of mortgage and a minimum of 5% deposit (if one is required by their lender).

If you are 60 or over you do not have to take out a mortgage.  However, you should maximise your contribution by using your full house sale proceeds (minus any reasonable expenses such as legal, estate agency fees and removal costs).  You must also demonstrate a housing need to move which should include at least one of the following:

  • under occupation - living in a property which is too large and need to downsize
  • property no longer suitable to meet your needs - can no longer manage the stairs etc.
  • support - need to move closer to family or friends that provide care and support

The Scottish Government receives its percentage back when you sell or if you choose to buy out the Government Equity Stake.

The Scottish Government has recently confirmed funding of £195 million for the scheme over the next 3 years.

The maximum threshold sale price for the scheme is as follows:

  • For financial year 2018/19 (transactions concluding up to 31 March 2019) the threshold price is £200,000

Online application form

Click here to complete the online Help to Buy application form

General Data Protection Regulation (GDPR)

Click here to read the Scottish Government Shared Equity Schemes - General Data Protection Regulation (GDPR) - Privacy Notices and Data Retention Periods

For further information

For further information on the scheme and details of participating house builders please visit the Scottish Government's website.

Contact the Sales & Leasing Team on 01224 202900 or email ownership@grampianhousing.co.uk.

Help to Buy information on the Scottish Government website

Approved developers

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