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Barratt helps key workers buy new homes
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Property: Hope is building for first-time buyers in Aberdeen
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Phenomenal popularity : Ministers urged to reopen First Home Fund to meet demand
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A funding cut led to a huge drop in the number of first-time buyers who were helped by a flagship Scottish Government scheme this year, it can be revealed.
Figures released under freedom of information laws show that there were 2,935 approved applications for the hugely popular First Home Fund last month.
It represented a 70% fall on the 9,729 buyers who were helped by the scheme in 2020/21.
The drop reflected a similar-sized reduction in funding for the initiative, from £200 million last year to £60m in 2021/22.
ISLAND businesses face the loss of hundreds of thousands of pounds over the coming days and weeks as ferry disruption dampens hopes of an early bounce-back with the rest of country edging out of lockdown. The nationally-owned CalMac’s largest ferry the MV Loch Seaforth is the subject of frantic repair by specialists. Tourism businesses and hauliers are among the hardest hit and hospitality across Arran was reported in one survey to have had another soul-destroying string of callers cancelling bookings. One hotelier counted up £30,000 in call-offs and this comes at a time when the building blocks of recovery should be in place to allow businesses back to life. Instead there is greater uncertainty.