You only need a 5% deposit and a 75% mortgage to 100% own a new home.

If you cannot afford a large deposit Help to Buy is a Government-backed scheme that helps make a mortgage more readily available. The scheme requires just a 5% deposit and a mortgage of up to 75% of the value of the property. So, you pay just 80% of the property price now, and the remaining 20% is provided by a Government equity loan. In Scotland, this is interest free for the term of the loan, which could make your monthly mortgage repayments lower. Help to Buy is open to all first-time buyers who are looking to move on to the property ladder – and is available on all homes costing up to £250,000.

Example on a property priced at £250,000:
• 5% Buyers deposit is £12,500
• 75% Mortgage on property value, is £187,500
• 20% interest free Scottish Government equity loan of £50,000

Find out more about Help to Buy in Scotland

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