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First time buyers offered support | First time buyers offered support |
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Scotland's communities minister is to announce a £24m funding package to help hundreds of first-time buyers get a foot on the property ladder. | Scotland's communities minister is to announce a £24m funding package to help hundreds of first-time buyers get a foot on the property ladder. |
Stewart Maxwell will unveil plans for government grants and shared equity schemes to help those on low incomes. | Stewart Maxwell will unveil plans for government grants and shared equity schemes to help those on low incomes. |
The Open Market Shared Equity scheme was previously trialled in Edinburgh and Lothians and will be rolled out in six other areas. | The Open Market Shared Equity scheme was previously trialled in Edinburgh and Lothians and will be rolled out in six other areas. |
People in Highland, Aberdeen and Moray are among those to be included. | People in Highland, Aberdeen and Moray are among those to be included. |
The initiative, which allows people to buy a home on the open market with the assistance of a housing association, will also be extended to cover Aberdeenshire, Stirling and Perth & Kinross. | The initiative, which allows people to buy a home on the open market with the assistance of a housing association, will also be extended to cover Aberdeenshire, Stirling and Perth & Kinross. |
Housing supply is failing to match demand and first-time buyers are being priced out of the market adding to the pressures on an already stretched social rented sector. Stewart Maxwell Communities Minister | |
Mr Maxwell said: "Through the Low-cost Initiative for First-Time Buyers, we are expanding assistance through a mix of government grants, shared-equity schemes and mortgage-related products and services. | Mr Maxwell said: "Through the Low-cost Initiative for First-Time Buyers, we are expanding assistance through a mix of government grants, shared-equity schemes and mortgage-related products and services. |
"Housing supply is failing to match demand and first-time buyers are being priced out of the market adding to the pressures on an already stretched social rented sector. | "Housing supply is failing to match demand and first-time buyers are being priced out of the market adding to the pressures on an already stretched social rented sector. |
"I am particularly keen to work with private lenders and investors to help achieve more shared-equity homes for first-time buyers, by taking forward our manifesto commitment to create a Scottish Housing Support Fund." | "I am particularly keen to work with private lenders and investors to help achieve more shared-equity homes for first-time buyers, by taking forward our manifesto commitment to create a Scottish Housing Support Fund." |
The minister will attend the Building Homes for Scotland conference in Edinburgh on Monday where he will stress the need for high quality and energy-efficient affordable housing. | The minister will attend the Building Homes for Scotland conference in Edinburgh on Monday where he will stress the need for high quality and energy-efficient affordable housing. |
Out of reach | Out of reach |
James Jopling, head of campaigns for Shelter Scotland, welcomed the scheme. | James Jopling, head of campaigns for Shelter Scotland, welcomed the scheme. |
He said it would allow more people a chance to buy a first property. | He said it would allow more people a chance to buy a first property. |
But more investment was needed to ensure everyone had the right to affordable housing, he added. | But more investment was needed to ensure everyone had the right to affordable housing, he added. |
"What this scheme won't do is help people for whom even buying 60% of a house is way out of reach," he said. | "What this scheme won't do is help people for whom even buying 60% of a house is way out of reach," he said. |
"With over 9,000 individuals and families in temporary accommodation and around 200,000 on house waiting lists, the big priority is to increase real choice for those excluded from decent housing. | "With over 9,000 individuals and families in temporary accommodation and around 200,000 on house waiting lists, the big priority is to increase real choice for those excluded from decent housing. |
"That means delivering much more affordable housing for rent." | "That means delivering much more affordable housing for rent." |