New scheme will see West Lothian renters given money towards deposit to buy home
dailyrecord.co.ukProposals that will see West Lothian tenants given cash to buy their rented homes are being welcomed.Tory Lothian MSP Miles Briggs is backing his party’s plans to introduce a ‘Rent to Own’ scheme.The new policy would allow tenants to buy their home by receiving a percentage of their rent from the government to put towards a deposit.The plan was unveiled by Scottish Conservative Leader Douglas Ross at the Conservative Party Conference earlier this year.Renters would receive 25 per cent of the rent paid over their duration of their tenancy as a deposit to buy their home.The model was previously used in Wales and Miles Briggs says that home ownership should be an affordable ambition for everyone living in West Lothian.He said: “Home ownership should be attainable for everyone in Lothian but sadly that feels further away than ever for far too many.“These proposals will help people save for a deposit while they are renting, and showing that they will be able to keep up mortgage payments.“We need bold new initiatives to help people in Lothian to get onto the property ladder.“For too long the SNP have repeatedly failed to meet crucial housebuilding targets and on their watch it has become increasingly hard for people to own a house.“Scottish Conservatives also plan to increase the threshold for paying Scotland’s equivalent of stamp duty – LBTT – to £250,000, this policy demonstrates the Scottish Conservatives’ commitment to help people own their own home.” Don't miss the latest news from the West Lothian Courier.
Read more on dailyrecord.co.uk