Scottish Government launches first time buyer loan scheme

NICOLA Sturgeon has unveiled a £70 million scheme to help low and moderate income families in Scotland buy their first homes.

Picture: TSPL

Under the plan eligible buyers will receive an interest free loan to help them get on the property ladder.

The First Minister announced the scheme, as she took her cabinet to Alloa today.

Ms Sturgeon launched the plan after David Cameron said 200,000 homes will be made available to first-time buyers in England by 2020 if he is re-elected as Prime Minister in May’s election.

She said: “We want to help today’s generation of young people to access home ownership where this is sensible and sustainable for them.

“This scheme will have a huge impact on people’s life chances and will help them make a move from living in the social rented sector, the private rented sector or residing in the family home.”