FOI/202600502972 · FOI · released
First Home Fund and Help to Buy Scotland queries: FOI release
Information requested
You asked for information on:
First Home Fund (FHF), an initiative ran by the Scottish Government from 2019 to 2021-2022 for First Time Buyers, via a Shared Equity Scheme for the purchase of property. Help to Buy Scotland (HTB), an initiative ran by the Scottish Government, via a Shared Equity Scheme for the purchase of new build properties only.
Specifically:
1. To date, how much has been repaid from the sale of property or full/patrial repayment from individuals who originally used both schemes to purchase a property?
2. From the funds received back from the sale of property or full/partial repayment, to date, what has been the total loss or gain from the original funds issued to enable the individual(s) to purchase the property via both schemes?
3. Lastly, due to the rise in property prices since both schemes were launched, with the significant gain in the initial investment, where have the gain in funds been allocated to?
Response
I enclose a copy of some of the information you requested.
The answer to your questions are:
1. The tables below set out the repayments received until the end of financial year 2024-25:
First Home Fund Year Amount 2024-25 £21,404,651.09 2023-24 £16,533,160.51 2022-23 £13,389,896.32 2021-22 £3,003,231.10 2020-21 £62,253.00
Help to buy Year Amount 2024-25 £38,219,963.41 2023-24 £30,951,212.59 2022-23 £41,271,806.21 2021-22 £48,997,392.28 2020-21 £37,519,383.83 2019-20 £35,063,203.19 2018-19 £22,849,172.76 2017-18 £12,463,657.23 2016-17 £6,608,141.40
2. Some of the information you have requested is available from:
https://www.gov.scot/binaries/content/documents/govscot/publications/transparency-data/2020/09/scottish-governmentreturn-on-help-to-buy-scotland-2013-2020/documents/sg-return-on-help-to-buy-scotland/sg-return-on-help-to- buyscotland/ govscot%3Adocument/Help%2Bto%2BBuy%2B%2528Scotland%2529%2BReturn%2BReport%2Bto%2B2020.pdf.
The Help to Buy (Scotland) Return Report from September 2013 to end March 2020 details that from the 2,190 properties sold or equity increased there was a nominal net return of £5.2m.
Under section 25(1) of FOISA, we do not have to give you information which is already reasonably accessible to you. If, however, you do not have internet access to obtain this information from the website(s) listed, then please contact me again and I will send you a paper copy.
While our aim is to provide information whenever possible, in this instance the Scottish Government does not have some of the information you have requested. There is no information held for the loss or gains from Help to Buy (Scotland) properties past March 2020. The reasons why we don't have this information are explained below.
The Scottish Government does not have the information you have asked for as no analysis has been carried out to calculate the total loss or gain from the original funds issued.
While our aim is to provide information whenever possible, in this instance the Scottish Government does not have some of the information you have requested. There is no information held for the loss or gains from First Home Fund properties. The reasons why we don't have this information are explained below.
The Scottish Government does not have the information you have asked for as no analysis has been carried out to calculate the total loss or gain from the original funds issued.
This is a formal notice under section 17(1) of FOISA that the Scottish Government does not have the information you have requested.
3. The Scottish Government produces a budget annually. This budgets incorporates all money it expects to receive from the UK Government, borrowing, taxes raised in Scotland and other sources of income including the expected Income from the sale of shared equity. This anticipated income then provides the framework for the spending decisions made by Scottish Ministers and set out in the Scottish budget which is then scrutinised voted on by the Scottish parliament.
Budgets are set annually by the Scottish Parliament: The Scottish Budget Process | Scottish Parliament Website
Income received from First Home Fund & Help to Buy Scotland has been, and will continue to be used, to fund the spending decisions made by Scottish Ministers.
About FOI
The Scottish Government is committed to publishing all information released in response to Freedom of Information requests. View all FOI responses at https://www.gov.scot/foi-responses.
Contact Please quote the FOI reference Central Correspondence Unit Email: contactus@gov.scot Phone: 0300 244 4000 The Scottish Government St Andrew's House Regent Road Edinburgh EH1 3DG
Detected exemption language
Under section 25(1) of FOISA, we do not have to give you information which is already reasonably accessible to you. This is a formal notice under section 17(1) of FOISA that the Scottish Government does not have the information you have requested.
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