FTBs in Scotland get rescue package

22-Oct-2008

Measures to help first-time buyers (FTBs) in Scotland get their foot on the property ladder have been announced.

First minister Alex Salmond unveiled the £60 million package, which is hoped will help potential property owners find an affordable home.

The scheme has been piloted in ten authorities across the country and is expected to help 1,500 homeowners struggling to sell their property.

It is funded from the £250 million set aside for the low cost initiative for FTBs announced by the government earlier this year.

According to the October 2008 Zoopla! Survey, 97.3 per cent of UK homes have declined in value over the past year and only 2.7 per cent have actually risen in value.

Furthermore, 38 per cent of homeowners are expecting the value of their home to stay the same or increase compared with only 19 per cent expecting house prices overall to remain constant.

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