Scots homeowners benefit the most from Help to Buy, it is revealed

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SCOTS homeowners have benefitted the most from the Help to Buy scheme, it has been revealed.

Figures released today show that 6,817 successful mortgage applications have gone through north of the border – a higher rate than the UK average.

Figures show that Scots buyers have benefitted the most
Figures show that Scots buyers have benefitted the most (Pic: Mark Moz)

 

The programme makes it easier for first time buyers to get on the housing ladder, as government cash is used to guarantee deposits for banks.

The report, released by the treasury, revealed around 78% of the successful applications involved first-time buyers, and UK-wide more than 56,000 people have been assisted.

Scottish Conservative housing spokesman Alex Johnstone said: “The UK Government recognised the difficulty that exists, particularly for young people, in getting onto the property ladder.

The Help to Buy scheme helps people get on the housing ladder
The Help to Buy scheme helps people get on the housing ladder

 

“This scheme was created, and now we can see the evidence of it helping thousands of people across Scotland realising their dream of owning a property.

“These figures also show that the programme has been more enthusiastically embraced north of the border than elsewhere in the UK.

“People rightly ask what governments do to help those who simply want to own their own home.

“The UK Government sets-up practical help which incentivises banks to offer mortgages, while the Scottish Government axes right-to-buy, a popular system which has allowed thousands upon thousands to fulfil that aspiration.”

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