Responding to the Scottish Government's announcement that Help to Buy in Scotland will be extended for another two years, Douglas Cochrane, Chair of the UK Finance Scotland Mortgage Committee, said:

?The extension of Help to Buy in Scotland is good news for buyers and home movers with low deposits, who will continue to receive vital support when buying a new-build home.

?Last year the number of first-time buyers in Scotland reached its highest level in a decade, boosted by vital schemes like Help to Buy.

?Today's announcement will bring welcome stability to the Scottish mortgage market and help more people get a foot on the housing ladder in the years ahead.?

Ends

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Notes to Editor

1. UK Finance is a new trade association which was formed on 1 July 2017 to represent the finance and banking industry operating in the UK. It represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation brings together most of the activities previously carried out by the Asset Based Finance Association, the British Bankers? Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association
2. Figures published by UK Finance show there over 35,000 first-time buyers in Scotland in 2017, the highest level in a decade (Mortgage Trends Update: Scotland Q4 , 21 February 2018).