First-time buyers in Scotland are struggling to get on the property ladder. With the biggest rise in house prices for 14 years, Edinburgh has become virtually inaccessible to first-time and low-income buyers, who are unable to find properties within the pricing range required to access traditional funding.

The Scottish Government’s funding options currently available are of no help. With the Help to Buy (Scotland): Affordable New Build scheme now closed for new applicants, the only available government-backed assistance is the Low-cost Initiative for First Time Buyers (Lift) scheme cap. Lift, however, only applies to properties priced within a certain threshold. In Edinburgh, for example, a one-bedroom property is capped at just £125,000, meaning that there are very few, if any, options.

In England the Help to Buy scheme still exists and is targeted at first-time buyers. Another initiative has also been introduced in England called First Homes, which is a form of shared ownership.

There have been calls for the Scottish Government to extend the First Home Fund, which provides first-time buyers with up to £25,000 to help them buy a property that meets their needs. The loan is interest free but the Scottish Government will have an equity share in the property, for up to 25%, until the loan is repaid. 

For the time being, first-time buyers will have to rely on the Lift scheme to get their foot on the property ladder for first-home purchases.