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Help to buy (Scotland) schemes - anything apply to me?
dave2
Posts: 264 Forumite
I have £55k saved and as such looking at flats around £130k.
The new-build options are limited around here, particularly as I'd like to live centrally. However I might well reconsider if I could pay more using an interest-free loan as the property might then be worth a commute.
People keep trying to tell me that there's a help to buy type scheme which is open to any first time buyer regardless of new or old property. However trying to search online it seems to me that the schemes are all for new builds or for people with only 5% deposit. This is what I already thought but numerous people all have contradicted that.
The new-build options are limited around here, particularly as I'd like to live centrally. However I might well reconsider if I could pay more using an interest-free loan as the property might then be worth a commute.
People keep trying to tell me that there's a help to buy type scheme which is open to any first time buyer regardless of new or old property. However trying to search online it seems to me that the schemes are all for new builds or for people with only 5% deposit. This is what I already thought but numerous people all have contradicted that.
0
Comments
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I believe the HTB scheme in England covers new and old properties and Scotland is new only
information here http://www.gov.scot/Topics/Built-Environment/Housing/BuyingSelling/help-to-buy0 -
The Help-to-Buy Mortgage Guarantee scheme is for both old and new builds and covers the whole of the UK. It is for people with a 5% deposit who then get a 95% LTV mortgage.
http://www.helptobuy.org.uk/mortgage-guarantee/how-does-it-work
That won't be the scheme for you unless your £55k equates to a 5% deposit.0
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