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Harper Macleod LLP administers first sale as ‘Help To Buy’ new build shared equity scheme gets up and running

Harper Macleod LLP has been appointed by the Scottish Government to administer its Help to Buy (Scotland) new build shared equity scheme.

The sale of a property in Dyce, Aberdeenshire in November was the first under the scheme, which aims to give buyers a helping hand onto the housing ladder.

Harper Macleod is appointed to provide property law services to Scottish Government on the scheme, processing transactions which will see Ministers take between 10% and 20% equity in new build homes.

The scheme will provide a vital boost to both homebuyers and homebuilders. Under Help to Buy, buyers will be able to take a majority share in a new build house costing up to £400,000 while the Scottish Government pays the remaining amount.

Derek Hogg, lead Partner in the Public Sector & Housing team, said: "We are delighted to be appointed by the Scottish Government to play a role in the Help to Buy (Scotland) scheme, which will provide a vital boost to the Scottish economy. This appointment recognises the firm's experience and expertise in property law and housing, and we look forward to supporting the Scottish Ministers in delivering this scheme."

Harper Macleod also provides similar services to the Scottish Government for its Low cost Initiative for First Time Buyers (LIFT) schemes, launched in 2007, which bring together several ways for people to access home ownership.

The firm's Housing and Property teams have extensive experience of acting for clients on high-volume property transactions, including Glasgow Housing Association and other Registered Social Landlords, housebuilders, banks and other national