DOVECOT
RESIDENCES
HELP TO BUY
With assistance from the Scottish Government, you'll be one step closer to owning your dream home with Cater Homes. The Help to Buy scheme enables home-buyers, like you, to be able to achieve your ambition - with the help of a low deposit, as low as 5%, and an affordable mortgage of between 80% and 85%
WITH THE HELP TO BUY (SCOTLAND) SCHEME, YOU PURCHASE 100% OF YOUR HOME AND LEGALLY OWN 100% OF YOUR HOME.
Under Help to Buy, the government provides an equity stake as follows:
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The Scottish Government provides an equity stake of up to 15%
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You arrange a mortgage for up to 80%-85%
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Meaning your deposit is just 5%
The scheme is for selected new build homes up to the value of £200,000.
If you apply, you fund 85% of the purchase price using a mortgage, plus any deposit your lender asks for.
The remaining purchase cost is provided by the Scottish Government, up to 15% of your home’s market value. The Scottish Government will hold a second charge on the property, and own a 15% equity share in your home. There is no interest to pay on the equity share.