BUYING FIRST TIME

First time buyers may be able to achieve help from Scottish Government of up to 15% of the purchase price for properties that do not exceed £200,000 through the Help to Buy (Scotland) Affordable New Build scheme.

The Scottish Government has a list of participating home builders who are registered with the scheme and to qualify for the loan only homes from builders listed are valid.  Before seeking the loan you must have a repayment mortgage in principle from a lender or independent financial advisor, of  not less than 25% of the purchase price and the deposit and mortgage must total at least 85% of the cost price not exceeding £200.000

There are two types of schemes the Affordable New Build scheme and the Smaller Developer scheme.  Both schemes work in the same way and which one you apply to depends on the home you are buying. In addition, you cannot apply  more than 9 months from the date of purchase.

Although Scottish Government will own up to 15% of the property you will be responsible for the full payment of all property costs during the mortgage.

See https://www.mygov.scot/help-to-buy/overview/  for full details.   Information can be obtained from Scottish Governments Information for Buyers leaflet