How To Buy Your First Home Scotland

If you re a first time buyer you might qualify for help to buy from the scottish government.

How to buy your first home scotland. The first home fund is a 200 million shared equity pilot scheme to provide first time buyers with up to 25 000 to help them buy a property that meets their needs and is located in the area where they want to live. You will need all relevant insurance policies to begin from the exchange of. This is a great time to get buildings and contents insurance quotes. You may only buy a new build home from a builder who is registered with the scheme. They offer a range of competitive products from a panel of insurers.

Thankfully there are lots of places you can turn to for help and by breaking the process down into simple stages getting onto the property ladder can be a lot easier than it first appears. However if you know the important things to do for buying your new home then this will be an easy task. Buying your first home is exciting. Further details can be found in the scottish government s information for buyers leaflet. This scheme helps people buy a new build home without the need for a large deposit.

At the same time it can be difficult too. Save for a down payment being a homeowner with a mortgage is not like renting. Additional residential properties in scotland such as buy to let properties and second homes of 40 000 or more will attract an additional 4 of the relevant consideration on each band. Tax relief for a first time buyer acquiring ownership of a dwelling provided certain conditions are met may also be available. Here s how you can make your home buying dreams come true much sooner than you think.

It is open to all first time buyers in scotland and can be used to help buy both new build and existing properties. You might be able to get help through the first home fund. Don t distance yourself from terraced houses even if you d rather a semi detached home. Insure your home and contents. How to buy a house in your 20s.

To keep things easy your move s insurance services department will be in contact with you. Two thirds of homebuyers say they ve compromised to get on the ladder and 89 were satisfied by their decision. Likewise when buying your first home it s likely to be a little adventurous to expect a detached property. You can read more about help to buy on the scottish government website. How to buy your first home in scotland buying your first property is a daunting prospect and it can often seem difficult to know where to start.