The Scottish government is imposing a price cap on homes that can be purchased in future under the Help to Buy (Scotland) scheme.
As of next Wednesday, October 22, the shared equity version of the scheme will only apply to homes worth up to £250,000, rather than the current maximum of £400,000.
The Holyrood authorities say this change will ensure that more people can benefit from available funding and help to target funding at lower income families and first time buyers.
With 85 per cent of all Help to Buy (Scotland) sales to date already at or below this new threshold, and an estimated 94 per cent of sales having been to first time buyers, most new build houses will not be affected by the changes. Anyone currently buying at between £250,000 and £400,000 will be able to proceed.
Since Help to Buy (Scotland) was launched in September 2013, more than 3,000 homes have been purchased with an additional 1,500 expected to be completed by the end of this financial year.
Some £275m of funding has been allocated to the scheme in Scotland so far, which is £55 million more than the £220m originally forecast.
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