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£3million boost to rural rent to buy scheme in the Highlands

The rent to buy scheme in Highland is getting a £3million boost.
The rent to buy scheme in Highland is getting a £3million boost.

People living in the Highlands are to get a help onto the property ladder through a £3million boost to the rural rent to buy scheme.

The programme, delivered by the Highlands Small Communities Housing Trust (HSCHT), will give those who cannot afford their own home a chance to rent a new house for up to five years.

At the end of the period they will receive a cash return which will provide them with a deposit so they can buy and own the property which is sold substantially below market value.

The Scottish Government said the funding boost will allow small builders to benefit from their communities.

Housing Minister Margaret Burgess said: “This government is working tirelessly to improve the lives of people and communities across Scotland by making sure homes are affordable and attractive options for all.

“That’s why I am delighted to announce we are extending our rural rent to buy scheme to help even more people in communities across the Highlands own their own homes.

“These new homes will not only give families ownership of affordable homes where they can be safe and warm, but they will boost the economy by creating a demand for small, local contractors to build homes.”

Ronnie MacRae, HSCHT’s chief executive said: “The Scottish Government’s approach to innovative and increased rural development is hugely helpful, and this scheme which has various benefits is proving extremely popular with individuals, contractors and communities alike.

“The scheme is based entirely on loan finance which has the potential to be recyclable and provide social and economic benefit to rural communities for the longer term.”