Help For First Time Buyers

£70 million is being made available to help more first time buyers in Fife get a foot on the property ladder.

The Scottish Government's Open Market Shared Equity Scheme will provide eligible buyers with an interst free loan.

It's aimed at those on low to moderate incomes.

First Minister Nicola Sturgeon said: "We want to help today's generation of young people to access home ownership where this is sensible and sustainable for them.

"This scheme will have a huge impact on people’s life chances and will help them make a move from living in the social rented sector, the private rented sector or residing in the family home.’

"We will do all we can, within our powers and our resources, to help people like Craig and Jude get a foot onto the housing ladder"

First time buyers Jude Deacons said: "Craig and I are grateful for the scheme as it has allowed us to secure a great first home fit for our family life.

"We got married in 2009 just as the housing market changed significantly. We were unable to buy our first home as we had no way of securing the sizeable deposit required, despite both being in full time employment.

"As both of us were first time buyers the OMSE scheme allowed us to purchase a house fit for purpose to accommodate our two children.

"Another benefit to the OMSE scheme was that we could look at all homes and not just new builds. This opened up more choice with regards to purchasing the right home for us."

Social Justice Secretary Alex Neil said: "The Open Market Shared Equity scheme has not only helped people to buy their first home, it has also helped ‘second-steppers’ to be able to sell their home and to move to a new property.

"The scheme has also helped free up houses in the social rented sector and it will continue to provide priority access to social renters, disabled people, serving members of the armed forces and veterans'."