Help to Buy (Scotland) scheme used by more than 5,000 homebuyers

More than 5,000 families and first time buyers have purchased their home through the Help to Buy (Scotland) scheme, according to new figures released by Housing Minister Margaret Burgess.

A further 2,500 sales are expected to be completed this year through this scheme and the Help to Buy (Scotland) Small Developers scheme.

Over £305 million was allocated to the two schemes, far exceeding the original industry demand for £220 million and target of 4,500 homes.

The value of the 5,000 properties sold under the scheme since November, 2013 is over £1 billion.

Help to Buy (Scotland) has been developed and delivered in partnership with Homes for Scotland and the Council of Mortgage Lenders, representing the industry and lenders. They continue to work with Ministers to monitor the schemes.

Speaking ahead of her attendance later this week at Homes for Scotland's annual lunch, Burgess said: “Housing is, and will remain, at the heart of the Government’s ambitions to deliver a fairer and more prosperous country.

“By investing £305 million in the Help to Buy (Scotland) scheme, £85 million more than the house building industry originally requested, we have also stimulated the economy, created jobs and given the construction industry a huge boost.

“The 5,000 sales achieved has far exceeded the industry’s original target of 4,500 homes. This has provided thousands of families, couples and single people, including first time buyers, the help to move up or onto the property ladder.”

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