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A & J stephen (Builders) Ltd
Offers from A & J Stephen Builders Perth Scotland

Help to Buy (Scotland)

Stephen customers will be able to access Help to Buy (Scotland) to assist them in the purchase of a new build home.

Details of the scheme

  • Assistance will be offered to buyers who wish to purchase a new build home from a home builder, such as Stephen, who has registered to participate in the scheme with the Scottish Government.
  • The Scottish scheme will not incur any interest charges on the equity provided by Scottish Government.
  • The scheme will not be available for part-exchange or for buy-to-let.
  • The scheme will be open to help all buyers to purchase a new build home. This means that existing homeowners can participate in the scheme as long as they sell their existing home first.
  • The maximum property price for Help to Buy is £200,000 (from April 2017).
  • A buyer’s mortgage lender is likely to expect that they contribute a deposit of 5% of the full purchase price and the buyer’s mortgage and deposit must cover a minimum of 85% of the selected new build home. The Scottish Government will provide assistance of up to 15% of the purchase price (subject to the maximum threshold price of £200,000). The Scottish Government will hold the equity stake in a shared equity agreement that it will enter into with the buyer.
  • The sale price of homes sold under the scheme must match the main mortgage lender’s independent valuation. It is a requirement of the scheme for buyers to take out and maintain a mortgage with a qualifying lender.
  • Home builders will receive the sale price for purchased homes through a combination of the buyer’s deposit, mortgage finance and the assistance provided by the Scottish Government to the buyer.
  • The scheme has specific timescales built into the application process which should be met by all parties.

Full details on Help to Buy (Scotland) including an information leaflet can be found here.

Help to Buy Scheme

We love our house and are gradually making it into a home

Registered in Scotland 57720

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