Rescue deal announced
Scotland’s deputy first minister Nicola Sturgeon has outlined a credit crunch rescue package to prevent struggling homeowners being evicted.
Ms Sturgeon promised legislation to ensure that lenders notify local authorities when they intend to repossess. She also pledged a ‘homeowners’ support fund’, worth £25 million over the next two years.
In addition, the government plans to expand its shared equity schemes with £250 million of investment over the next three years.
Ms Sturgeon promised to press ahead with legislation to end the right to buy for new social homes. She announced that the fi rst two local housing organisations in Glasgow had set dates for ballots on second stage transfer from Glasgow Housing Association. Parkhead and Cassiltoun housing associations are aiming for ballots on 17 November.