News article 17/05/2013

People across Scotland are to be helped on to the housing ladder with a £120 million funding boost from the Scottish Government.

The funding will be available over the next two years to both first time buyers and existing homes owners who are buying a new build home.

New Homes for Scotland chairman Jim Preston welcomed the announcement, made by Deputy First Minister Nicola Sturgeon at the organisation's Annual Lunch on Friday 17 May, in front of a record crowd of 800 guests, saying:

"Home building is one of the most effective ways to stimulate the economy because of its strong employment and output multiplier effects.

“With strong evidence to demonstrate the significant positive impact shared equity schemes can make, a well-designed and funded initiative could be a game changer in Scotland.

"Timing, however, is crucial and we therefore look forward to working closely with the Scottish Government to ensure this option is made available to help home buyers here without delay."

Click here to read the full Scottish Government release.