Support for individuals and families to own their first homes
will be set out in a statement to Parliament tomorrow
(Wednesday).
The statement is expected to outline how the First Homes Fund
will offer financial support to first-time buyers, helping them
put down a deposit on a property up to the value of £300,000.
Ahead of the statement, First Minister and Social Justice and Housing
Secretary will visit a
housing development in East Lothian to see progress in increasing
housing supply.
Mr Swinney said:
“Home ownership is key to building successful communities and
offering people security for the future. The First Homes Fund wil
support families to set up a home and enable workers to stay in
the places they serve.
“We know the cost of living crisis and high rents have put real
pressure on peoples' abilities to put money aside each month to
save for a deposit. This has left many people, particularly the
younger generation, unable to take the first step to property
ownership.
“Through the First Homes Fund, my government will put concrete
help in place to enable people across Scotland to buy their first
house or flat. From rural areas where supply of homes is most
constrained, to urban areas where rents are highest, this fund
will help first-time buyers break the rent trap and invest in
their futures.
“I promised that we would support first time buyers – and we will
deliver.”
