The Islands Bond – What is it?

Author: Gail Clarke, Senior Associate, Murray Snell WS

Did you know that the Scottish Government is proposing a financial incentive to encourage young people and families to purchase a home or start up a business on Scottish islands threatened by depopulation? The bonds can be worth up to £50,000. Ministers are hoping that the Islands Bond scheme will be launched in 2022.

The islands surrounding Scotland offer some of the most beautiful scenery and a wonderful quality of life, too. However, purchasing or leasing land or property in these rural locations can be complicated, and experienced legal advice is essential to help secure the value of your investment.

How can MacRoberts and Murray Snell help?

If you are looking to relocate to or live on one of the Scottish islands, and you are thinking of making a land purchase for your business or for your personal use, you will need expert legal advice to navigate some of the specialities involving land and property purchases on the islands.

  • Did you know that on many of the islands, there are crofts which have special statutory protection? If you are purchasing in a crofting area, your solicitor must make careful additional checks.
  • If purchasing a property or land in a rural location, it will be necessary to ensure your land or property can be fully serviced as there may not be any mains services, and your solicitor will need to make careful checks as part of the conveyancing process.
  • Not all roads leading to rural properties are public. If the access to your house or property is private, checking that you have the necessary legal rights to use it is crucial.

Contact us

MacRoberts and Murray Snell have significant experience of dealing with all aspects of rural property, including those in crofting areas, and can guide you safely towards a successful investment. Please contact our team to find out how we can assist you.

Agriculture, Rural & Estates

Our dedicated team operates as Murray Snell WS, part of the MacRoberts Group, and advises on the purchase and sale of agricultural and rural property, forestry and estates.

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