Purchase one of our homes with an £25,000 interest free loan.

The First Home Fund is an initiative by the Scottish Government designed to support first time buyers purchase a home. The Scottish Government will provide an interest-free equity loan up to £25,000 towards the purchase of your new home.

How does it work?

  • You will provide a minimum deposit of 5% of the purchase price. (subject to individual lender requirements)
  • Your mortgage must be at least 25% of the purchase price.
  • All first-time buyers in Scotland are eligible for the scheme, or in a joint application, only one must be a first -time buyer.
  • There are no restrictions based on earnings.

Although the Scottish Government will have an equity share in the property, you will own the property outright. There are no monthly payments to be made towards the Scottish Government and no interest will be charged. You will only be due to repay the Scottish Government’s percentage equity share when you sell your home, however you can choose to pay this off earlier.

Example purchase breakdown

Purchase Price£250,000
5% Deposit£12,500
85% Mortgage£212,500
10% Scottish Government Loan£25,000

We would strongly recommend that you talk to an Independent Financial Advisor before sending off an application for the scheme. We can put you in touch with our trusted Independent Financial Advisors that will give you FREE impartial mortgage advice.

For further information and conditions relating to the First Home Fund, please visit the Scottish Government website.