Help to Buy (Scotland) Fact File £200,000 EX AMPLE HOME BUYER’S 5% DEPOSIT
£10k
SCOTTISH GOVERNMENT’S 20% LOAN
£40k
75% MORTGAGE FROM COMMERCIAL LENDER
£150k
A & Q
HOW MUCH DEPOSIT DO I NEED? Help to Buy (Scotland) scheme requires just a 5% deposit.
WHERE IS HELP TO BUY (SCOTLAND) AVAILABLE?
Tulloch Homes will be offering the scheme on homes upto £400,000, at all of our developments.
IS HELP TO BUY (SCOTLAND) AVAILABLE ON PRE-OWNED HOMES? No. The scheme is only available on new-build homes like ours.
CAN I USE HELP TO BUY IF I ALREADY OWN A HOME?
Yes. The Help to Buy (Scotland) scheme is available to both first-time buyers and existing home-owners. However, existing home-owners must sell their present home.
HOW DOES THE EQUITY LOAN WORK? The Scottish Government will provide you with an equity loan up to 20% value of the property. The loan is interest free for the term of the loan.
WHERE CAN I GET FINANCIAL ADVICE FROM?
Tulloch Homes can put you in touch with a financial adviser for FREE independent financial advice.
WHEN DOES THE EQUITY LOAN HAVE TO BE PAID BACK?
The loan can be repaid at any time within the terms of the mortgage, or when you sell the property.
CAN I USE HELP TO BUY (SCOTLAND) TO PURCHASE A BUY-TO-LET PROPERTY?
WHO PROCESSES MY HELP TO BUY (SCOTLAND) APPLICATION? Albyn Enterprises Ltd, who are administering the scheme in the Highlands on behalf of the Scottish Government.
WHAT DO I NEED TO GET STARTED WITH HELP TO BUY?
No. The scheme is only available to purchasers using the property as their only home.
WHAT TYPES OF MORTGAGE IS AVAILABLE WITH HELP TO BUY?
If you are able to raise a 5% deposit you are well on the way to buying a new home. For further information speak to a member of our sales team at the development of your choice.
Repayment mortgages are the only option with this scheme.
TAKE THE NEXT STEP....
1
Speak to a member of our sales team who will put you in touch with an IFA (Independent Financial Adviser) who will help you work out what you can afford.
2
3
Reserve your chosen Tulloch Home!
Speak to your IFA who will apply for the Help to Buy (Scotland) scheme on your behalf.
5
Albyn Enterprises will process your Your IFA will application and have an organise your answer for you within mortgage and get you five working days.
4
on your way to owning your brand new Tulloch Home!