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HS Financial Services - Scotland slashes help to buy
Scotland slashes help to buy
The Scottish government has slashed it's ceiling for its Help to Buy scheme to £250,000 rather than the current £400,000 with effect from Wednesday (22 October).

This change will ensure that more people can benefit from available funding and help to target funding at lower income families and first time buyers, housing minister Margaret Burgess said.

With 85 per cent of all Help to Buy (Scotland) sales to date already at or below this new threshold, and an estimated 94 per cent of sales having been to first time buyers, most new build houses will not be affected by the changes, according to Ms Burgess.

Since Help to Buy (Scotland) was launched in September 2013, more than 3,000 homes have been purchased with an additional 1,500 expected to be completed by the end of this financial year.

Ms Burgess said: “The Help to Buy (Scotland) scheme has opened up the housing market to thousands of house buyers. By targeting the scheme at properties at or below a value of £250,000, the scheme will support first time buyers and people who otherwise wouldn’t be able to afford to buy a new build home.

“The changes will also see the benefits of Help to Buy extended for as long as possible and build on the widely welcomed arrangements for the Land and Buildings Transaction Tax announced by the Finance Secretary last week.

“We will continue to monitor this successful scheme and will look at ways of making sure everyone in Scotland has access to good quality, affordable homes.”

Demand for the scheme has been high with ministers allocating £275m to the scheme to date, which is £55m more than the industry’s original £220m request. Around £100m of that funding has been allocated to the 2015/16 budget.

Ms Burgess added: “Housing continues to be a priority for this government and we are investing over £390m next year to deliver 6,000 affordable homes, of which 4,000 will be for social rent. Our 2015-16 budget makes clear that by investing in housing we are boosting the economy, improving the energy efficiency of housing stock and reducing fuel poverty.

“By replacing the stamp duty with the Land and Buildings Transaction Tax, the tax paid will be more proportionate to the house price, which means that the tax is fairer and will be based more closely on the buyer’s ability to pay.

“This new approach will benefit the majority of Scots, with nobody paying tax on the first £135,000 of a house purchase and 90 per cent of home-buyers either paying less or the same amount as they would under current arrangements. It will be a major boost to first time buyers and improve the affordability of starter homes.”
Posted by: Anne Barker on 09 Oct 2014

General Buyer Terms

This agreement is in relation to MediEstates Limited whose registered office is at 1st Floor, Pacific House, Stanier Way, Wyvern Business Park, Derby, DE21 6BF acting for and on behalf of our clients ("the Vendors"); and yourself (Buyer's Name) in relation for an introduction to a prospective sale of a business as a going concern. By registering through this agreement I agree to all terms set out below:

  1. Definitions
    In this Agreement the following terms and phrases shall have the following meaning unless the context otherwise requires:

    Business
    Dental Practice business providing dental care. This business is under the MediEstates Ltd sale terms.
    Confidential Information
    Means the actual Vendors identity and all confidential information in respect of the Business, including, but not limited to, any ideas, business methods, prices, accounts, finance, marketing, research, development, manpower plans, processes, market opportunities, intentions, design rights, product information, customer lists or details, employees’ details, trade secrets, computer systems and software, and other matters connected with the products or services manufactured, marketed, provided or obtained by the Vendor, and information concerning the Vendor’s relationships with actual or potential clients or customers and the needs and requirements of such clients’ or customers’ operations.
  2. Obligation of Confidentiality
    The Prospective Purchaser agrees to treat as confidential, information supplied by or on behalf of the Vendor in connection with the sale of the Business.
  3. Exclusions
    The obligation of confidentiality set out in clause 2 does not apply to:
    1. any information received from a third party who was legally free at the time of disclosure to disclose it;
    2. any information which was already lawfully in the Prospective Purchaser’s possession prior to receiving it from MediEstates Ltd on behalf of the Vendor; and
    3. any information which is in its entirety already in the public domain.
  4. Duties of Prospective Purchaser
    1. The Prospective Purchaser shall take such a reasonable security measures to protect the Confidential Information and trade secrets.
    2. The Prospective Purchaser shall not, without the prior written consent of the Vendor, permit any of the Confidential Information:
      1. to be disclosed, other than in confidence to its legal or professional advisors;
      2. to be copied or reproduced;
      3. to be commercially exploited in any way;
      4. to be used for any purpose other than in connection with the prospective purchase of the Business;
      5. MediEstates is registered under the Data Protection Act 1998. Upon Signing this agreement you agree to follow the legal obligations of this act to protect the details of the information supplied to you, with it no to be passed outside of the control of you the prospective purchaser.
    3. The Prospective Purchaser agrees to keep a record of Confidential Information received.
    4. The Prospective Purchaser will return to MediEstates or the Vendor all documents containing Confidential Information and all copies of those documents on demand at any time which are in its possession or under its control, and for this purpose the term “documents” includes computer discs and all other materials capable of storing data and information. The Prospective Purchaser agrees that such documents remain the property of the MediEstates on behalf of the Vendor.
    5. The Prospective Purchaser must not jeopardise or re-direct the sale under any circumstances.
    6. The Prospective Purchaser must not contact the Local Area Team or CCG regarding any practice sale, by any means of media unless written permission is granted from the Vendor.
    7. To carry out own due diligence on practice purchases and accepts that any information MediEstates has supplied is information provided by the vendor and is not responsible for its accuracy or completeness.
  5. This Agreement
    The existence of this Agreement and its terms are confidential and neither MediEstates nor the Purchaser may disclose anything about this Agreement or its subject matter or implementation to any person other than in confidence to their legal or professional advisers.
  6. Duties of Prospective Purchaser
    When buying Dental practices, finance is normally needed. Our organisation operated over more than one of the MediHoldings brand, by completing this from you agree that the information can be shared to our other organisations to avoid the need to register independently and provide the best possible service.

    MediEstates will refer you to the specialist dental lending team and MediFinancial who will contact the necessary banks, whom have preferential healthcare lending rates in some cases, to ascertain which funding is available to you.
    By signing this agreement you do not have to use any of the banks MediFinancial contact, it is just another service which we provide.
  7. Deposit for Dental Practice
    If you are interested in putting forward a formal offer in for a practice, once the offer is accepted there will be a deposit required to secure the practice sale which is dependant of the practice size. This deposit is held in a client account and will be returned to the buyer on completion of the practice sale. You the buyer, will be required to sign a deposit schedule which will cover the buyer and the seller in the event that the practice sale does not proceed.
  8. Changes to this Agreement
    Any changes made to this agreement must be authorised and signed by one of MediEstates Ltd Directors.
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