New funding boost to help Scots on to the property ladder

19 July 2013

Housing Minister, Margret Burgess has announced a new funding boost of £62 million. This funding is being used in the Open Market Shared Equity Scheme which will benefit potential first time buyers in Scotland taking their first steps on to the property ladder. This scheme will be eligible for buyers over the next two years.

Individuals who qualify for the initiative are on low to moderate incomes and are hoping to get a foot on to the property ladder. They can do this by purchasing a majority share in a property while the remaining amount is provided by the Scottish Government.  
Mrs. Burgess said: "This overall investment of £90 million over two years demonstrates our commitment to do all we can to help credit-worthy buyers to buy their first home."  She added more than 2,700 people have already benefited from the initiative over the past four years. 

Housing Minister, Margret Burgess has announced a new funding boost of £62 million. This funding is being used in the Open Market Shared Equity Scheme which will benefit potential first time buyers in Scotland taking their first steps on to the property ladder. This scheme will be eligible for buyers over the next two years.

Individuals who qualify for the initiative are on low to moderate incomes and are hoping to get a foot on to the property ladder. They can do this by purchasing a majority share in a property while the remaining amount is provided by the Scottish Government.  

Mrs. Burgess said: "This overall investment of £90 million over two years demonstrates our commitment to do all we can to help credit-worthy buyers to buy their first home." She added more than 2,700 people have already benefited from the initiative over the past four years. 

 

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