How to apply
If you want to apply for funding through the Help to Buy scheme, you first need to contact a participating home builder.
After you have done this, you will need to speak to either a lender directly or to an independent financial adviser, who will discuss your current financial position and your ability to obtain a mortgage.
There are currently 9 lenders offering mortgages for the Help to Buy scheme:
- Glasgow Credit Union
- Leeds Building Society
- Lloyds Banking Group
- Scotwest Credit Union
- Skipton Building Society
- Virgin Money
You will then need to reserve the home and get a full reservation agreement by the builder. You may need to pay a reservation fee to do this.
After this, you should apply for funding through the adminstering agent for your area.
Eilean Siar (Western Isles)
|Albyn Enterprises Limted
68 MacLennan Crescent
01463 701 271
|Grampian Housing Association Limited
74 Huntly Street
0800 121 4496
|Orkney Islands||Orkney Housing Association Limited
39a Victoria Street
01856 875 253
Perth & Kinross
East & West Dumbartonshire
North & South Lanarkshire
North, South & East Ayrshire
Argyll & Bute
Dumfries & Galloway
Callender Business Park
08450 020 163
After you complete the form and send it to an agent, they'll assess your application and let you know if you're eligible for assistance through the scheme.
If you're eligible
If the agent assesses that your application is eligible, they'll send you an 'Authority to Proceed' (ATP), which confirms your eligibility and lets you go ahead with the purchase.
Your solicitor will then check to make sure the mortgage offer, property price and the funds you have are all valid under the terms of the Authority to Proceed.
Once everything's been checked and the purchase is ready to complete, your solicitor will gather:
- the funds from your mortgage lender
- the Scottish Government's contribution
- the deposit you're paying
They will then use these funds to pay the builder the purchase price of the home and complete the deal. Once the deal is complete, you can move in.
The missives (solicitor letters negotiating the sale with the builder) must be completed within three months of the date stated on your Authority to Proceed letter. You must move into your home within nine months of this date.