Harper Macleod, one of Scotland’s leading law firms, has been appointed by the Scottish Government to help administer the £195 million successor to its hugely popular Help to Buy schemes.
The latest New Build Shared Equity Scheme was announced in the Scottish Government’s Programme for Government 2015-16 on 1 September 2015. The three-year funding of £195 million will have a renewed focus on support for affordable home ownership and aim to support 6500 individuals to purchase a new build home over the next three years.
Martin Darroch, Chief Executive of Harper Macleod, said: “We are delighted to be appointed by Scottish Government to assist with such a high-profile scheme, which has an important part to play in driving the wider Scottish economy. Our ability to win this tender is testament to the experience we have built up over almost a decade advising on such schemes, and the quality, efficiency and value we are able to deliver as a result. Our team is ready to continue supporting Scottish Ministers to ensure the delivery of its shared equity schemes is successful.”
Under the appointment Harper Macleod will provide advisory and conveyancing services in relation to Scottish Ministers’ interests in the scheme. The firm will also continue to administer post-sale work for transactions related to Help to Buy (Scotland) and the Help to Buy (Scotland) Small Developers Scheme.
The law firm, which earlier this year was one of only two appointed to all six lots of the expanded Scottish Central Government Legal Framework, won a competitive tender to carry out the work. The contract will begin from 1 January 2016, and will run for two years with the possibility of a further extension for two 12-month periods.
Harper Macleod has provided property law services to Scottish Government on a range of shared equity schemes since 2007, and in 2013 was appointed to administer the existing Help to Buy (Scotland) scheme.