A £30 million scheme to help people buy new homes from small and medium sized home builders was launched today.

The Scottish Government’s Help to Buy (Scotland) Small Developers scheme will spread support more widely across the housebuilding industry by helping buyers who want a new property built by one of around 170 smaller developers.

Under Help to Buy (Scotland), the Scottish Government takes an equity stake of between 10% and 20% of the value of the property which can be repaid at any time.

With Homes for Scotland having worked closely with members and the Scottish Goverment to help shape the new scheme in order to deliver maximum impact and benefit, Chief Executive Philip Hogg (right) said:

“The Help to Buy (Scotland) scheme has been hugely successful, with proven demand demonstrating the aspiration of thousands of Scots to own their own home.

“The additional funding announced today is therefore warmly welcomed and we continue to work closely with the Scottish Government to help address the challenges associated with planning and accessing development finance which also particularly impact smaller builders.”

Click here to read the full Scottish Government release.