First-time buyers in Falkirk district are being helped on to the housing ladder thanks to a cash boost of over £10m to the Open Market Shared Equity Scheme.
SNP MSP Angus MacDonald has hailed news of the Scottish Government’s extra cash which has doubled funding for the scheme.
Angus MacDonald said it was welcome news for residents of Falkirk district that applications will be accepted from all first-time buyers, as previously only priority groups were eligible.
The SNP MSP for Falkirk East said:
“The Open Market Shared Equity Scheme is a fantastic programme that allows people to pay for between 60 to 90 per cent of their home, with the government funding the remaining amount. I have personally guided some constituents towards this scheme, and they have been delighted to be in a position to secure their home. Many had been waiting on the Council housing list with little or no prospect of securing Council housing in the near future, despite the Scottish Government’s record investment in social housing.”
“Thanks to this extra funding from the Scottish Government, first-time buyers will now be able to apply for the scheme, helping them on to the property ladder.
“This is the first time the scheme has opened up its criteria of eligibility, allowing more people to apply. “It is also extremely helpful to first-time buyers that Falkirk is ranked as the 7th most affordable local authority in Scotland, and indeed the UK.”
“The SNP Government is committed to helping people into the housing market for the first time, which is why it has doubled the fund.
“The New Supply Shared Equity Scheme and the New Supply Shared Equity with Developers Scheme are also assisting people to purchase their first home.
“Everyone should have a safe, warm home which they can afford and these schemes are helping to achieve that vision.
“While the UK Government is busy cutting budgets, the SNP is taking direct action to kick-start the economy through the extension of this scheme which will see more houses built and sustain substantial numbers of construction jobs.”