The First Home Fund is a new scheme run by the Scottish Government to help first-time buyers in Scotland purchase a property.To be eligible for the scheme you must be a first time buyer who has not previously owned or current own a property.

You will be required to provide a minimum deposit of 5% of the purchase and your mortgage must be at least 25% of the purchase price. The Scottish Government will contribute a maximum of 49% equity stake based on the property valuation or purchase price, whichever is lower, up to a maximum of £25,000. The remaining stake is made up through a deposit contribution and mortgage from a bank or building society.

There is no price cap on this Scheme so you can look at homes costing over £200,000. The Scottish Government equity stake is repayable when you sell your home. With the First Home Fund, you will own the property outright and will be responsible for mortgage repayments, maintenance etc.

Have a look at the Government Website for more information -

Here’s an example of how the First Home Fund scheme could work based on a £250,000 purchase price:-

  • 5% Purchaser Deposit £12,500
  • 85% Purchaser Mortgage £212,500
  • 10% Scottish Government equity share £25,000

As well as the new First Home Scheme we are also a registered builder for the Help To Buy Scheme and a 95% Mortgage

Get in touch with our Sales Team for more information on or give us a call on 01779 821115