Guide

Help to Buy (Scotland) Affordable New Build scheme

Last updated: 28 July 2017

How it works

Through 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 % share under a shared equity agreement which it will enter into with you.

Although you'll have complete title to your home and your name will be on the title deeds for it, there will be a mortgage (or 'standard security') on the home to make sure the Scottish Government's share is protected.

Responsibilities

When you buy through the Help to Buy scheme you have complete title to your home.

This means you'll be responsible for:

  • paying your mortgage
  • factors costs
  • home contents insurance
  • building insurance
  • repairs and maintenance
  • council tax
  • heating, lighting and water bills
  • fittings and furniture

Threshold prices

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 for the year in which your property transaction will complete.

The threshold prices are:

  • £230,000 for purchases completed on or before 31 March 2017
  • £200,000 for purchases completed on or before 31 March 2018
  • £200,000 for purchases completed on or before 31 March 2019
Help to Buy (Scotland) Affordable New Build scheme
How it works