Prospective first-time buyers in Perth and Kinross, Fife, Stirling and Clackmannanshire can now apply for a UK Government supported Help to Buy ISA.
Through the scheme first time buyers can save up for a deposit on their first house, tax free, and the government will add a 25% bonus. If buyers save the maximum £12,000 the state will then supplement this with £3,000, resulting in a £15,000 deposit.
First time buyers in Perth & Kinross, Fife, Stirling and Clackmannanshire can participate in the scheme for any house worth up to £250,000.
If you decide not to buy a home you can still withdraw the money saved with tax-free interest.
Murdo Fraser MSP said:
“Getting on the housing ladder has never been more difficult however the UK Government’s Help to Buy ISA is a great new product that can help prospective buyers save the vital cash for a deposit.
“A 25% bonus to your deposit is a great boost to people struggling to save enough money on their own.
“Helping young families in Perth and Kinross, Fife, Stirling and Clackmannanshire secure homes that provide the best environment for bringing up their children is extremely important.
“I would encourage anyone in Mid-Scotland and Fife who is saving up for their first home to look into how this scheme could help them.”