10 Feb

Government pledges investment in Scottish housing

Government pledges investment in Scottish housing

People looking for property for sale or houses to rent in Scotland could benefit from increased investment in housing.

The Scottish parliament has announced plans to increase investment in the creation of new, affordable housing by £16 million as part of the 2011/12 budget.

Housing associations, councils and private developers sharing the £50 million Challenge Fund will receive a £16 million boost in the next financial year.

The Scottish Federation of Housing Associations (SFHA) has welcomed the government's pledge, but is stressing the importance of increasing the number of houses to rent in Scotland.

Large waiting lists for property to rent in the country mean strong demand for rental properties.

SFHA chief executive Mary Taylor said: "We welcome the decision to add an extra £16 million to the Challenge Fund.

"Investing in affordable housing is the best way to boost the economy quickly."

People planning to invest in buy-to-let houses to let to tenants need to research the market before buying houses for sale in the UK, according to LettingFocus.com.

The site says lenders should provide guides and support to buyers trying to secure buy-to-let mortgages.ADNFCR-1222-ID-800397598-ADNFCR

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