Help to Buy

The Scottish Government has taken the decision not to reopen the Help to Buy (Scotland) (Affordable New Build and Smaller Developers Schemes) and the First Home Fund.

The Scottish Government will continue to fund the LIFT Open Market Shared Equity Scheme and the LIFT New Supply Shared Equity Scheme in 2022-23.

As signalled in Housing to 2040, the Scottish Government wants to shift the focus of support to helping people to renovate, adapt or improve the energy efficiency of their homes. 

These schemes were set up to support buyers at times when mortgage lenders were less likely to lend to those with a smaller deposit. Help to Buy, in particular, aimed to support the housebuilding sector and buyers after the financial crash in 2008. However, the steady recovery in the higher loan-to-value mortgage market and the strong housebuilding sector mean that the time is now right for the Scottish Government to step back.

The First Home Fund and the Help to Buy (Scotland) Affordable New Build Scheme & Small Developer Scheme are closed.  No new applications can be accepted for these schemes.

Approved 2020-21 and 2021-22 applications to the schemes which have been delayed into financial year 2022-23, as result of Covid-19 related issues, will be funded provided the applicant’s financial position remains unchanged. A revised Authority to Proceed is not required.  You should contact the team at helptobuy@linkhaltd.co.uk regarding your delay with a confirmed date of settlement for the request to be considered.

While transactions which are delayed and cannot settle by 31 March 2022 will be honoured, a reason for the delay and an estimated new settlement date should be provided. Where new settlement dates cannot be provided these cases will be considered on an individual basis as to reason and likelihood of any settlement being achieved.