Scotland retains higher Help to Buy threshold for 2018/19
The Scottish Government has announced that the price threshold on properties eligible for the Help to Buy scheme north of the border will remain at £200,000 in 2018/19.
Originally, the limit was to be reduced for the year from 1 April 2018 from the current figure to £175,000. Housing minister Kevin Stewart has said that retaining the figure – which comes into effect tomorrow, 1 April 2017 – for the third year of the scheme will assist more families to buy a brand new home in Scotland.
“We want to help people get on or up the housing ladder and Scotland’s Help to Buy scheme gives a helping hand to thousands of people,” he says. “We want to make homeownership as accessible as possible – with a particular focus on helping people to buy affordable new build homes. We know, however, that prices of property – and what constitutes affordable - can fluctuate massively across different parts of the country.
“That is why I have decided to retain the price cap on homes eligible for the scheme at £200,000 over the next two financial years. This will be important in helping people own their own home across urban, rural and small towns in Scotland. I hope housebuilders will see this as a strong sign from this government that we are committed to playing our part in delivering new, high-quality homes of all tenures – and helping people to access them.”
Nicola Barclay, chief executive of Homes for Scotland, has responded positively to the announcement: “Maintaining the £200,000 price threshold is great news for those looking to buy a new home as it provides for greater confidence and choice of property as well as allowing people more time to look and save for a deposit. It is also crucially important for homebuilders active in this area of the market as it offers more certainty for planning, investment and sales purposes.”
Check out a range of new homes in Scotland here.