Help to Buy

The Scottish Government's Help to Buy (Scotland): Affordable New Build scheme helps first-time buyers and current homeowners purchase a new build home without the need for a large deposit.

Covid-19: Shared Equity Schemes operated by Link on behalf of the Scottish Government remain open, with staff working from home. Please check this web page regularly for updates.

 

With the Help to Buy (Scotland) Affordable New Build scheme you'll be able to buy a new build home without having to fund its entire cost and will receive assistance from the Scottish Government.

You'll be expected to pay a minimum of at least 85% of the home's total purchase price and the Scottish Government will hold the remaining percentage share under a shared equity agreement.

If you are over the age of 60, you do not need to take out a mortgage to access this scheme and can purchase the property with the help of savings and/or equity from a house sale.  

Funding and thresholds 

Help to Buy (Scotland): Affordable New Build and Smaller Developers Schemes has been extended to March 2021. An additional £100 million will be provided over 2019-20 and 2020-21.

If you want to buy a new build home using the Help to Buy scheme, the property purchase price cannot be more than the threshold price. The threshold price is £200,000 for the financial year 2020-21. 

The scheme is currently open to applications for financial year 2020/21.

Affordable New Build Scheme

You need to take a mortgage of at least 25% of the purchase price. You must be unable to buy the property without the scheme.

Over-60s Affordable New Build Scheme

If you are over 60 you can apply to the scheme with or without the need for a mortgage.  You must be able to demonstrate a need to move, which should include at least one of the following:

  • under occupation – living in a property which is too large and need to downsize
  • the property is no longer suitable to meet your needs – can no longer manage stairs etc
  • support – need to move closer to family or friends that provide care and support

Help to Buy - Covid-19 Update 

Due to the impact of Coronavirus on settlement timescales, the deadline to settle all transactions that were due to settle earlier for First Home Fund and Help to Buy is 31 March 2021. A revised Award Letter or Authority to Proceed is not required. Missives must be concluded within three months of approval to First Home Fund and Help to Buy.

Due to the impact of Coronavirus, the deadline to conclude missives that were due to conclude before end September 2020 has been extended to 30 September 2020, and there will be no further extensions beyond this date. If the missives were due to conclude by 30 September 2020 and they do not, the applicant must re-apply. Settlement must take place within 9 months of the Authority to Proceed or 31 March 2021, whichever is the earlier.

More information

For further information on the scheme, details of participating house builders and access to the affordability calculator, please visit the Scottish Government’s website or contact a member of the team on 0330 303 0023.

Due to the impact of Coronavirus, we may start to take longer than normal to process applications. Please only call us if you have not received a reply within 10 working days or the matter is urgent. Thank you for your understanding at this time.