The latest boost to buyers on a budget is a further tranche of Help to Buy funding, released at the beginning of this month.
The Help to Buy (Scotland) Affordable New Build Scheme is a Scottish Government offer to help both first time buyers and existing homeowners to buy a new house from participating home builders.
The scheme provides up to 15 per cent of the sale price of a property, up to £230,000.
Buyers provide a 5 per cent deposit, and the remaining 80 per cent is made up with their mortgage.
It is a useful scheme and one that many hundreds have taken advantage of in previous years.
But would-be purchasers hoping to use it to boost their buying power should move quickly.
In previous years, the funds have been finite and have run out before the end of the year.
And the latest rules on Help to Buy means that the upper limit on the home value will decrease over its three-year lifetime to £200,000 and £175,000 in the two remaining years.
Over 200 housebuilders are taking part in Help to Buy and with the first funding released this month and the spring property market coming to life, now is a good time to find out about the properties included.
Cruden Homes is offering the scheme at the builder’s five developments in the east of Scotland; Evolution in Edinburgh, Wester Lea at Newtongrange in Midlothian, Scholars Park in Currie and The Granary in Kirkliston, and at its Stirling Bridge development in Stirling.
At the Evolution site in the Gracemount area of the capital, buyers will find a selection of one and two-bedroom apartments with prices starting from £124,000, while the three-bedroom terraced family homes offered at Newtongrange start from just £146,500.
Grace Brownlow, sales and marketing director at Cruden Homes says: “There’s no doubt the Help to Buy (Scotland) initiative has provided a major boost to home ownership. Many of our residents are paying less in mortgage payments through Help to Buy than they were in rent.”
Some developers are offering the scheme in addition to other incentives too.
In the west of Scotland, Bellway Homes is offering a great package at its Eastfields development in Carntyne, but only for a limited time.
Buyers who reserve before the end of April, will be able to take Help to Buy and benefit from incentives including a fully landscaped garden. The deal is available on selected plots including the three bedroom semi-detached Kinloch from £160,995 and the three-bedroom detached Erinvale from £178,995.
The biggest incentive of Help to Buy homes is the price, however.
In Hamilton, Keepmoat Homes’ Cooperfield development is offering two and three-bedroom terraced houses, semi-detached and detached homes, with prices starting from £129,500 – or from only £110,075 – with Help to Buy.