Scottish Governments supports scheme to help homebuyers

The Scottish government has announced its backing of a scheme that could help up to 6,000 first time buyers and others who wish to buy new build homes.

The national mortgage indemnity scheme aims to assist those who could afford a mortgage but not the high deposit of a new home.

It is anticipated that over three years the scheme would create or safeguard 22,800 new construction jobs as well as over 650 apprenticeships.

The chief executive of the industry body, Homes for Scotland, Jonathan Fair said, “Constraints surrounding mortgage lending have proved the single biggest obstacle to recovery in the housing market.

“It has therefore taken us a huge amount of effort and innovation to get to this point so we are absolutely delighted to be leading a scheme which we believe has the potential to make such a difference to so many fundamental areas.”

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