Scottish Labour would raise LBTT threshold to £200k for first time buyers
The Scottish Labour leader has also pledged to bring more empty homes into use.
Anas Sarwar has promised to raise the threshold for Land and Buildings Transaction Tax (LBTT) for first time buyers and create thousands of new mid market rent homes for those saving for a deposit to help Scots get on the housing ladder.
The Scottish Labour leader has also pledged to bring more empty homes into use.
Mr Sarwar said that for too many people, working hard was not enough to buy their own home.
He said the SNP had failed first-time buyers and left too many people paying “soaring” private sector rents.
Mr Sarwar said a Scottish Labour government would slash the cost of a house by raising the threshold LBTT relief for first-time buyers to £200,000.
He said this would save people buying a home for the first time up to £1,100, while around 40 per cent of first-time buyers pay no LBTT at all.
The Scottish Labour leader also pledged to set aside more than 5,000 new mid-market rent homes for those who want to save for a deposit, which he said would give them access to reduced rents to help them save.
Scottish Labour will also promise to launch a £1 homes scheme to bring long-term empty and derelict properties back into use, with councils given stronger powers to acquire neglected homes and government-backed loans made available to help renovate them.
The party has previously set out its plans to build 125,000 new homes over five years, overhaul planning laws, establish a new housing investment bank and allow new housing trusts to create their own construction companies.
Mr Sarwar said: “Scotland has a housing emergency, and after nearly two decades of SNP failure, it is holding our country back.
“For too many young people, working hard and doing the right thing still is not enough to buy a home of their own.
“The SNP has failed to help first-time buyers and left too many people stuck paying soaring rents, unable to save and locked out of the housing ladder.
“I’m standing to fix the mess, get the basics right, and build a better future for Scotland.”
If he becomes first minister, Mr Sarwar said he would “lead the biggest housebuilding revolution in the history of devolution” with 125,000 homes over the next parliament across social housing, homes for rent and homes to buy.
He went on: “We will change how Scotland finances and delivers housing for good, with a new Housing Investment Bank to support long term building, a £1 homes scheme to bring derelict properties back into use, and Housing Development Trusts with the power to deliver homes in every region.
“This is how we lift people out of poverty, create jobs, grow the economy, and give more families the chance to own a home.
“This is about making home ownership possible again, supporting working families and making sure more people can build their future here in Scotland.
“On May 7, vote Scottish Labour on both votes for the change Scotland needs.”
SNP Housing Secretary and candidate for Clydesdale Màiri McAllan said:"The SNP will give up to £10,000 to first time buyers to help them on the property ladder - that's the type of clear, direct support people get from the SNP.
"That's the type of Scotland we will build and it only comes through voting Both Votes SNP on 7th May."
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