New homes available with Scotland’s 95% mortgage scheme

The MI New Home initiative came into force this month, making it easier for many house-hunters, particularly but not exclusively first-time buyers, to purchase their dream home. The scheme, which is supported by the Scottish government, involves lenders offering 95% mortgages on homes up to the value of £250,000 and is open to almost anyone buying a new-build property. Housebuilders across the country have a wide selection of homes fitting the criteria and those looking to find a new-build home in Scotland will find themselves spoiled for choice.

Taylor Wimpey's Fordell Lea development in Dunfermline offers a selection of two-, three- and four-bedroom homes ranging from £101,495 to £231,500. Potential buyers have 16 property styles to choose from, including apartments, terraced houses, semi-detached and detached villas. At the bottom end of the scale, the ‘Burrell' two-bedroom apartment comprises a living room/dining area, kitchen, master bedroom with fitted wardrobes, one further bedroom and bathroom. The ‘Hume' also falls under the £250,000 limit for the MI New Home scheme. This four-bedroom detached family home features a living room, dining room, breakfasting kitchen, study, garage, two en suites and a private garden.

With prices ranging from £89,500 for a two-bedroom apartment to £255,000 for a four-bedroom family home, Springfield Properties' Letterfourie development has something to suit everyone. The site is located to the southwest of Buckie, a coastal town in Moray. One feature of Letterfourie is the green area and play park that has been incorporated into the site, making it an attractive development for families with young children.

Situated in the picturesque town of Crieff, Stewart Milne Homes' Strathearn View development contains a mixture of one-, two-, three- and four-bedroom homes. The ‘Rowan' house type, priced from £89,995, is a terraced property comprising an open-plan living room and kitchen, master bedroom with large walk-in wardrobe, a study and a bathroom. The only other house type currently available at Strathearn View is the mid-terraced ‘Alder'. Priced from £111,995, the ‘Alder' also has an open-plan lounge and kitchen as well as a downstairs cloakroom, master bedroom with built-in wardrobe, second bedroom and bathroom.

The Courtyard is a Lovell development situated in the Ayrshire coastal town of Irvine. Properties available include two-bedroom apartments priced from £95,000 and three-bedroom terraced homes from £184,995. Depending on the type of property, benefits include dining rooms, family kitchens, en suites, fitted wardrobes and utility rooms. The development is close to the town centre and commuters are well placed with the railway station under a mile away and the M77 motorway also easily accessed.