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More help for first time home buyers

Funding for a scheme to help people get on the housing ladder has been doubled, Cabinet Secretary for Infrastructure and Capital Investment Alex Neil has announced.

The Scottish Government has increased the budget for the Open Market Shared Equity Scheme from over £10 million to over £20 million.

The scheme will now be extended to accept applications from all first time buyers.

Previously, only priority groups, including people who rent from either a council or housing association, members of the armed forces and veterans – were eligible to apply.

The scheme lets people pay for between 60 and 80% of their home. The government funds the remaining amount by taking an interest-free equity stake.