Affordable New Homes in Scotland Through Help to Buy
Posted 14 September 2018 by
Rupert BatesBuying your first property, or looking to move from your current property, can be a daunting process. With the assistance of Help to Buy (Scotland), the process is made more affordable and simple.
Help to Buy (Scotland) is a scheme that provides buyers of new build homes under £200,000 with an equity loan of 15% of the property price, interest-free for the first five years. With this, the homeowner only has to provide a 5% deposit to secure their new property, and find an 80% mortgages. Once the interest-free period has ended, the homeowner will pay interest monthly over the period that they own the property. When the property is sold, the seller pays 15% of the price back to the government.
Many new developments offer the Help to Buy (Scotland) scheme to both first-time buyers and homeowners to make their homes more affordable. Read on to discover some examples of what you could purchase today with Help to Buy (Scotland).
These new builds of two-bedroom apartments and two-, three- and four-bedroom houses are close to the city, being less than four miles from Edinburgh city centre. You have less than a 10-minute walk before you are surrounded by a line of shops and restaurants on the street of Niddrie. Your nearest train station is less than two miles away and the closest bus stop is at the top of the road.
There are over 150 homes being built within this development and the first new homeowners have already moved in. The prices currently range from £195,995 to £202,995.
Example:
Three-bedroom house, £195,995
Deposit 5% = £9,800
Help to Buy loan 15% = £29,399
Mortgage 80% = £156,796
Approximate household income needed, £52,265
The new builds consist of three- and four-bedroom detached and semi-detached houses. This area is perfect for those that may need to commute to Glasgow City Centre, as these are only five-minute drive from Newton train station. There are also plenty of family friendly places to visit within a 30-minute drive.
Each house within this build has family friendly layouts and enough storage built with growing families in mind. Show houses are available for viewing Thursday to Sunday from 10.00am to 5.30pm, and also on Mondays from 12.30pm to 5.30pm.
Example:
Three-bedroom semi-detached house, £184,995
Deposit 5% = £9,295
Help to Buy loan 15% = £27,749
Mortgage 80% = £147,951
Approximate household income needed, £49,317
The development comprises two-, three-, four- and five-bedroom homes in a small town, nestled in the Almond Valley in West Lothian. It is located halfway between Edinburgh and Glasgow, ideal if you need to commute for work. There are also a range of local shops nearby for the day-to-day essentials and if not, you are only a 20-minute drive from the nearest high street shops.
An ideal location for growing families, this development has a show home open Thursday to Monday from 11.00am to 6.00pm.
Example:
Two-bedroom terraced house, £129,950
Deposit 5% = £6,498
Help to Buy loan 15% = £19,493
Mortgage 80% = £103,959
Approximate household income needed, £34,653
Useful links
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