The Scottish Government has announced a £3m boost to the Rural Rent to Buy Scheme.

The additional funds will enable those living in rural communities to receive help to get onto the property ladder.

The extension of the scheme, which is delivered by the Highlands Small Communities Housing Trust (HSCHT), will give people, who previously would not be able to afford their own home, the chance to rent a new home for up to five years.

Following this time, they will then receive a cash return which will provide them with a deposit so they can purchase and own the property, which would be sold substantially below market value, the government has said.


Announcing the additional investment, 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 Officer, added: "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."

(JP/IT)