Housing help to get on the property ladder

Image to illustrate spike in house prices.

Image to illustrate spike in house prices.

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People across Scotland are to be helped on to the housing ladder with a £62 million funding boost announced this week by Housing Minister Margaret Burgess.

The funding for the Open Market Shared Equity Scheme will be available over the next two years for eligible buyers on low to moderate incomes who are looking to buy their first home. This increases the overall investment in the scheme over the next two years to £90 million.

Eligible buyers will be able to purchase a home by paying a majority share in it, while the Scottish Government provides the remaining amount which is secured under a security on the home.

The announcement comes after plans were unveiled last week to end the Right to Buy.