Home Ownership (Support)

– in the Scottish Parliament at on 3 February 2016.

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Photo of Graeme Dey Graeme Dey Scottish National Party

7. To ask the Scottish Government how many people have received support into home ownership since 2007. (S4O-05510)

Photo of Margaret Burgess Margaret Burgess Scottish National Party

Since 2007, the Scottish Government has spent more than £800 million supporting more than 20,000 households into home ownership through a range of initiatives, which include the low-cost initiative for first-time buyers scheme and the help to buy (Scotland) scheme.

From sales forms returned by buyers, we know that between 70 and 75 per cent of all sales across the different low-cost home ownership and help to buy schemes were to buyers aged between 18 and 34.

Photo of Graeme Dey Graeme Dey Scottish National Party

Can the minister outline how the Government intends to build on that success in supporting people into home ownership and whether such measures will be targeted at those who need support to get on to or move up the housing ladder?

Photo of Margaret Burgess Margaret Burgess Scottish National Party

Yes, I can certainly say to the member that we are committed to doing everything that we can to help first-time buyers and existing homeowners to buy a home where that is sensible and sustainable for them.

For 2015-16, we have allocated £160 million to help up to 5,000 people buy a home; £80 million of that has been allocated to our popular open market shared equity scheme to help up to 2,000 first-time buyers buy their first home and £80 million has been allocated to our help to buy (Scotland) scheme. It is an affordable build scheme to help first-time buyers and existing homeowners to get a new-build home. The £80 million allocated to the help to buy (Scotland) affordable new-build scheme forms part of the £195 million allocated over the next three years to help up to 7,500 homeowners to buy a new home.

Photo of Gavin Brown Gavin Brown Conservative

The minister just said that £160 million has been allocated for 2015-16. What will the amount be for 2016-17? [Interruption.]

Photo of Margaret Burgess Margaret Burgess Scottish National Party

Sorry, I am just checking what we announced, but certainly in the budget announcement we set out that we will be investing a further £80 million through the open market shared equity scheme in 2016-17. That remains the same as we have spent in 2015-16. Also, £80 million has already been announced of the £195 million that has been allocated to help to buy over the next three years. That announcement was made by the cabinet secretary last month, I believe.