Bank of Scotland is supporting the Governments Help to Buy scheme. There are two types of Help to Buy (Scotland) scheme:
- the Affordable New Build scheme
- the Smaller Developer scheme
Both work in exactly the same way, and the agent who handles the schemes will tell you which one you'll be applying for depending on which home you want to buy.
The schemes are open to first time buyers and existing homeowners and helps you with up to 15% of the purchase price of a new build home.
You may only buy a new build home from a builder who is registered with the scheme. The Scottish Government has a list of participating home builders.
Eligibility criteria and exclusions apply. To learn more about current scheme availability and criteria, visit the Scottish Government website, or speak to a Mortgage Adviser.
How does Help to Buy work?
1. Ensure your mortgage and deposit covers a combined minimum 85% of the total purchase price
2. Ensure the value of the new build is not over the maximum threshold prices for the scheme
3. Speak to one of our mortgage advisers to start your application by calling us on 0345 300 2297 (Monday - Friday 8am - 8pm, Saturday 9am - 4pm).
For more details on Help to Buy, visit the Scottish Government website.