Using help to buy

Using Help to Buy

(Scotland) to purchase your Urban Union home

The Help to Buy (Scotland) Affordable New Build scheme is an ideal option for first time buyers looking to purchase their very own home, avoiding expensive rents and benefitting from the increase in value, but without having to fund the entire purchase price. You will need to pay at least 85% of the purchase price. The Government will hold the remaining percentage share under a shared equity agreement. Here’s a guide to purchasing an Urban Union Home using the Help to Buy Scheme.

How it works

The Help to Buy (Scotland) Affordable New Build scheme means that you can buy a new build home without having to fund its entire cost as you will receive assistance from the Scottish Government. It is open to first time buyers and existing homeowners. You will need to pay at least 85% of the total purchase price and the Scottish Government will helps you with the remaining percentage of the purchase price of a newly built home. You can only purchase a property using the Scheme from a registered builder such as Urban Union. There are certain conditions:

  • You can provide a mortgage and deposit to cover a minimum of 85% of the purchase price.
  • The value of the new build is not over the threshold for the scheme.
  • You have spoken to a lender or independent financial advisor.
  • Your mortgage is a repayment mortgage of at least 25% of the purchase price and is not interest-only.
  • You submit your application at least 9 months before you expect to complete on the property purchase.

What it means for you

Purchasing a property through the Help to Buy (Scotland) Affordable New Build Scheme means that you will have the complete title to the home and your name will be on the title deeds. However, you (and your co-owner if you have bought it together) will be solely responsible for:

  • The monthly mortgage repayment
  • Any factor fees
  • Home contents and building insurance
  • Repairs and maintenance
  • Council tax payments
  • Utility bills
  • Fittings and furniture

Property price

There is a threshold of £200,000 in Scotland, so the property purchase price cannot exceed this. This threshold price applies to the financial years 2019-20 and 2020-2021. To apply for funding, you will need to contact Urban Union as a participating home builder, after which you will need to speak to a lender or independent financial advisor to further advise you on your financial position and mortgage eligibility. At present there are 16 lenders offering mortgages for this scheme, which can be found here.


Once you have reserved your home and paid your reservation fee to Urban Union, we can guide you through the process and advise you of your next steps which includes contacting the administering agent to find out if you are eligible for assistance through the scheme. Once this has been completed you will receive an ‘Authority to Proceed’ (ATP) which will enable you to proceed with the purchase.