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First-time buyers face huge challenges with typical property deposits increasing and mortgage lenders applying stricter lending criteria, and they have now received another blow as the Government’s First Home Fund has closed after just five working days.

The Scottish Budget 2021-2022 confirmed last week that the ceiling of the nil rate band for residential LBTT will return, as planned, to £145,000 for transactions, with an effective date after 31 March 2021. Finance Secretary Kate Forbes has however promised that relief for first-time buyers, which raises the nil rate band for LBTT to £175,000, has been extended.

A new year and another lockdown in Scotland, however we are hopefully starting to see light at the end of the tunnel with the roll out of the vaccination programme. Throughout mainland Scotland, people are currently only permitted to leave their homes for essential purposes. However there are exceptions and the Scottish Government has confirmed that activities in connection with moving home, including viewing a property, are still allowed, as long as they can be carried out safely.

2020 has certainly been a challenging year for us all, but if you were ever in doubt, Perth has recently been crowned the happiest place to live in Scotland!