Hennessy Bowie Solicitors News
Hennessy Bowie & Co has been practising in Bishopbriggs for some twenty five years, principally in the areas of domestic conveyancing, commercial conveyancing, commercial leasing, executries and matters relating to care for the elderly,
Help to Boost Small Housebuilders
The Scottish Government has launched a new £30 million scheme designed to make it easier for people to buy new homes from small and medium sized housebuilders.
The 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.
Around 4,100 homes have been bought through Help to Buy (Scotland) in the last 15 months. The additional £30 million in 2015-16, on top of the original £100 million, will help a further 750 homebuyers, the Government has said.
Housebuilders have to register with the scheme – currently around 170 are classed as small builders and 20 are defined as large builders.
“Today’s announcement of a scheme specifically for small and medium sized developers is a welcome recognition of the important role that we play in the continuing growth of Scotland’s house-building industry,” commented Pete Bell, Chairman and Managing Director of Campion Homes.
“The ringfencing of the funds gives small and medium sized developers the confidence to progress developments which will be available for buyers taking up the Help to Buy (Scotland) Small Developers scheme,” he said.
“I am particularly pleased that the scheme is now restricted to houses costing a maximum of £250,000 as this will allow more first time buyers to get on the property owning ladder,” he added.
To make an online enquiry about buying or selling your home, please click here or call us on 0141 775 0005.
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