If you have 5% of the cost of your dream home, you could be eligible for a Government equity loan of up to 15%, taking your mortgage borrowing down to 80%.
This could make your new home more affordable as the rates from the lender are more competitive at 80%, and repayments much less, meaning you could save hundreds of pounds!*
The best news is that the 15% loan is interest free!
The scheme is available to everyone – whether you’re a first-time buyer or looking to move up the property ladder. But be quick as the funds are limited!
This is the easy part: just contact our friendly sales advisors at any one of our developments across Scotland and they can use their expertise and contacts to guide you every step of the way.
Use our calculator guide to find out how Help to Buy could increase your budget, and help you move house with just a 5% deposit.
How much deposit do you have?
The Government could lend you up to 20 of the home value.
Search for Help to Buy properties* with your new budget of . Enter your location and then look for the Help to Buy indicator
Sorry, the Help to Buy scheme is not currently available in Wales.You can search for homes in this region without Help to Buy
Search for Help to Buy properties* with your new budget of . Press the 'Find home' button below then look for the Help to Buy indicator
Where is the scheme available?
Help to Buy (Scotland) is available across all Persimmon developments in Scotland on homes up to £200,000.
Can you clarify the equity loan element?
The Government will provide you with an equity loan up to 15% value of the property. This loan is interest free for the term of the loan.
What are the repayment terms of the equity loan?
You can repay the loan any time within the first 25 years (or the terms of the mortgage), or when you sell the property.
Is the scheme available on pre-owned homes?
The Help to Buy (Scotland) scheme is only available on new-build homes like those built by Persimmon.
Can I use the scheme if I already own a home?
The Help to Buy (Scotland) scheme is available to both first-time buyers and existing homeowners. Our Home Change scheme** can help sell your property for you.
Is the scheme available as a buy-to-let option?
The Help to Buy (Scotland) scheme is only available to purchasers using the property as their main residence.
What types of mortgage are available with Help to Buy (Scotland)?
Repayment mortgages are the only option with this scheme.
Where can I get financial advice from?
Persimmon can put you in touch with a list of recommended financial advisers who can assist you every step of the way.
Help to Buy (Scotland) Equity Loan Terms and Conditions*The Help to Buy (Scotland) equity loan scheme has specific terms and conditions and is subject to affordability criteria as defined by the Scottish Government.
Help to Buy (Scotland) equity loan scheme is available on all plots in Scotland, with a full purchase price up to £200,000 subject to status, terms and conditions apply.
Help to Buy (Scotland) equity loan eligible applicants will be offered an equity loan of up to a maximum of 15% of the purchase price (based on the open market value). The registered provider will hold the second charge on the property. Applicants are required to fund at least 85% of the purchase price by means of a conventional mortgage, savings and any deposit where required. Applicants must obtain their conventional mortgage from a qualified lending institution (e.g. a bank or building society).
**Available on selected plots subject to status. Terms and conditions apply.
A professional legal adviser is required to carry out the legal formalities of buying the home and to represent your interests. Persimmon can provide you with a list of recommended solicitors and/or financial advisers as necessary. Persimmon cannot advise you on a mortgage. The Help to Buy (Scotland) scheme is subject to availability and may be withdrawn at any time without notice. Not to be used in conjunction with any other purchase assistance scheme, offer or promotion. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE, YOUR EQUITY LOAN OR OTHER DEBT SECURED ON IT. Full details available on request.
It’s a fact that we’re living longer (hurrah), but this can mean you’re trapped in a home that doesn’t suit your needs for longer too.
The Scottish Government has recently announced an extension to the Help to Buy (Scotland) scheme to cover the needs of over 60s who need to move but can’t afford to.
So if you’re over 60 and can demonstrate a “housing need to move”, then this could be the perfect scheme for you. There’s a set of criteria you’ll need to be aware of:
You’ll need to demonstrate a housing need to move which should include at least one of the following:
Housing Minister Kevin Stewart said:
“For the first time ever, older people will have more choice and empowered to make the best decision for them. That could mean downsizing, buying a retirement home, or moving to a property that brings them closer to the support they need."
For further information contact your nearest Charles Church development in Scotland or visit the updated Scottish Government Help to Buy website.
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