It’s a clan-do attitude
BURNS Night takes place tomorrow and Scots around the world will be celebrating the life and work of Robert Burns by addressing the haggis, tucking into neeps and tatties and knocking back a malt whisky or two. Whether you’re Scottish or not it’s a genius way to cheer up January and in some towns and cities north of the border the happy coincidence of Chinese New Year falling on Burns Night combined with festivals of light, will keep celebrations going on for days.
But first-time buyers in Scotland will be celebrating from now until March 2021, because the Scottish government introduced a new £150million shared equity scheme – First Home Fund – in December.
This will contribute up to £25,000 or 49 per cent of the purchase price of a new-build or existing property with a minimum deposit of just 5 per cent. It’s only available to people who have never owned a property anywhere in the world and when the home is sold the Scottish government will receive its percentage of the sale price.
If you successfully apply for the First Home Fund you can’t apply for other government schemes, although these will continue to operate.
Help To Buy (Scotland) is open to first-time buyers and those already on the property ladder, while Open Market Shared Equity is for first-time buyers and priority groups such as people over 60, social renters, disabled people, widows and widowers, members of the Armed Forces and veterans.
New Supply Shared Equity is for the same priority groups and offers help for buying new-build homes from housing associations or local councils. It’s also available to people who have previously owned a home but have experienced a significant change in circumstances, such as a divorce.
The First Home Fund has been welcomed by home builders in Scotland in particular CALA, which started life as the City of Aberdeen Land Association in 1875.
Among its new developments is Craibstone Estate, a new community in a woodland setting near Aberdeen on land previously owned by the Scottish Agricultural College.
THERE are woodland walks, cycling and jogging paths, a walled garden, arboretum and children’s play areas on the rural site, where one and twobedroom apartments and three-bedroom homes are available from £129,950 (01224 042510; cala.co.uk).
Meanwhile, Glasgow and Edinburgh continue to be among the UK’s most buoyant housing markets. Warners Solicitors & Estate Agents have revealed that in the three months to last October, their sales in
Edinburgh were up by 36 per cent compared to the same period last year.
Operations director David Marshall puts this down to an increase in homes for sale and said: “There is a better balance between supply and demand than was the case two or three years ago, which has helped to ensure that house price inflation hasn’t spiked to levels that would be unsustainable over the longer term.”
In Glasgow sales of apartments in Grade B-listed Cathcart House are going well with half already sold off-plan. The 73 one, two and three-bedrooms flats plus two-bedroom penthouses range from £173,000 to £349,000, with penthouses from £366,000 (07892 722039; thefmgroup.co.uk).
Cathcart House was previously Scottish Power’s headquarters, although originally a factory, and its distinctive red bricks and decorative panels have made it a landmark building. Original features such as the hallway and marble staircase have been retained and there will be an internal landscaped courtyard plus allocated parking.
Four miles from Glasgow city centre and close to Cathcart and Mount Florida railway stations, any Cathcart House residents attending future Burns Night celebrations will be able to get the last train home.