Scottish Conservative and Unionist MSP for Lothian Jeremy Balfour is backing his party’s plans to introduce a “Rent to Own” scheme.
The plan was unveiled by Scottish Conservative Leader Douglas Ross at this week’s Conservative Party Conference.
The new policy from the party would allow tenants in the Lothians to buy their home by receiving a percentage of their rent from the government to put towards a deposit.
Renters in the Lothians would receive 25% of the rent paid over their duration of their tenancy to buy their home.
The model was previously used in Wales and Jeremy Balfour says that home ownership should be an affordable ambition for everyone living in the Lothian region.
Jeremy Balfour says the SNP have consistently failed to meet their housebuilding targets which has made it increasingly hard for people to get on the property ladder in the Lothians.
Scottish Conservative and Unionist MSP Jeremy Balfour said: “Home ownership should be attainable for everyone in the Lothians but sadly that feels further away than ever for far too many.
“I’m proud to be backing plans by the Scottish Conservatives to introduce a Rent to Own Scheme.
“That will help people save for a deposit as they will then get a quarter of the rent they have paid through a tenancy given back to them when they decide to purchase a property.
“We need bold new initiatives to help people in the Lothian Region to get onto the property ladder and Rent to Own can help do just that.
“For too long the SNP have repeatedly failed to meet crucial housebuilding targets and on their watch it has become increasingly hard for people in the Lothians to own a house.
“Bold policies like Rent to Own are why the Scottish Conservatives are the real alternative to the SNP in the Lothians.
“On top of our plans to increase the threshold for paying Scotland’s equivalent of stamp duty – LBTT – to £250,000, this policy demonstrates the Scottish Conservatives’ commitment to help people in the Lothian Region to own their own home.”
