Scotland’s Help to Buy brings a three-bedroom new home in reach for first-timers

Posted 28 April 2016 by Keith Osborne

Why stick to a one- or two-bedroom new home if a government equity loan makes a three-bedroom one much more affordable?

Thanks to the provision of a 15% equity loan on suitable new build property, it is now possible for first-time buyers in Scotland to consider a larger home than they may have thought possible, as is the case at Stewart Milne Homes’ Ardgowan Rise in Inverkip.

The three-bedroom ‘Argyll’ property is available with just a 5% deposit, thanks to the government-backed scheme, and with the interest-free equity loan, buyers then just need to find a mortgage for 80% of the property’s value. This reduces both the amount required as down payment and the monthly mortgage outgoings, if Help to Buy Scotland were not used.

Even better news for buyers at the west coast development is that Stewart Milne Homes is also offering its First Time Buyers package on the ‘Argyll’ homes at the site, which provides a selection of furniture, carpets, blinds and light fixtures, together with a home cinema with flat-screen TV, all provided at no extra cost, to further reduce outgoings.

Marlyn Boal, sales and marking director for Stewart Milne Homes, says: “The Help to Buy initiative has afforded hopeful home buyers the ability to take their first steps onto the property ladder. Our homes at Ardgowan Rise have already been popular with those buying their first family property because of its stunning location and commutability. Now with the second phase of Help to Buy available, moving into a new home is even easier.”

The ‘Argyll’ is available on several plots on the scheme, both as end- and mid-terrace. It has a spacious living room and large kitchen/dining area, with French doors leading out to the rear garden. The kitchen also has the luxury of a convenient utility room for laundry equipment or additional storage. The master bedroom upstairs has a walk-in wardrobe and one of the other two bedrooms also has built-in storage, and there is a family bathroom to share.

All-in-all, it’s a lot more property than many first-time buyers might have considered affordable prior to the re-introduction of the Help to Buy scheme earlier this year.

Prices start at £149,950 before Help to Buy for the ‘Argyll’, with four-bedroom homes also available.

Find out more at ; 0845 026 7821

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