McMillan Welcomes Support for Homeowners

Stuart McMillan MSP, (SNP West of Scotland) today welcomed extended support for first-time buyers announced by First Minister Alex Salmond.

The Open Market Shared Equity Pilot, announced in January this year, was a £24 million programme in 2008/09 covering 10 local authorities. The scheme will be extended to the whole of Scotland, and in 2009/10 will have a substantially increased budget of £60 million reflecting another example of the Scottish Government bringing forward its capital spending programmes and helping families during difficult economic times.

Mr. McMillan said;

"I am delighted this scheme will be starting in Inverclyde following a successful pilot.

"The First Minister’s announcement that first time buyers in Inverclyde can now access this important assistance to help them onto the housing ladder, to secure a mortgage and to get the housing market moving again is excellent news for the area.

"The Scottish Government has increased investment in this scheme by 150% – offering a total of £60 million of support to first time buyers at just the right time.

"In these difficult economic times, the Scottish Government is doing everything possible to help families, households and businesses. Providing more access to affordable housing and greater support to first time buyers will also help stimulate our housing market".