Scotland launches £150m homebuyer scheme

Scotland’s first minister Nicola Sturgeon has announced a £150m scheme to help first-time buyers to get on to the housing ladder. The pilot will provide buyers with deposit loans of up to £25,000 secured on the equity of the homes. Buyers will be required to contribute a minimum of 5% of the value of their homes, similar to England’s Help to Buy equity loan scheme. The loan will be repayable in full at any time. Sturgeon also announced new proposals to tackle the oversupply of short-term lets, which also act as a barrier to home ownership. The Scottish government will launch a consultation on how local authorities can best use planning, health and safety and regulatory powers to control short-term lets. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette