First Home Fund

Up to £25,000 towards your new luxury home

The Scottish Government has made even more funding available towards the First Homes Fund. This is an excellent scheme which aims to help first-time home buyers purchase a property. Up to a massive £25,000 is available to all first-time buyers towards your new build property.

All you need is a min deposit of 5% and the Scottish Government will contribute up to £25,000 towards the purchase price. Please speak to our sales advisor Sarah Jayne who will provide more information and put you in touch with a mortgage advisor to help you move your purchase along.

Please note that lenders will have their own individual requirements when providing a mortgage. The lender or a mortgage advisor will be able to fully explain these requirements to you.

First Home Fund example

Below is an example of how the new First Home Fund scheme would look based on a 30 year term purchasing a home at £205,000:

Full Purchase Price - £205,000

Equity Share held by the Government - £25,000

Client deposit 5% of full purchase price - £10,250

Mortgage Amount - £169,750

Monthly estimated mortgage payments based on a 30 year term - £603 per month.

Find out more on:

Example based on B5 Apartment type, Plot 4 SW7.


Annual Percentage Rate of Credit (APRC) is 3.98%.

Offer is available on selected plots when utilising the First Home Fund scheme administered by the Scottish Government. Subject to status. The equity share held by the Government cannot exceed 49%. Terms & Conditions Apply.

Monthly costs based on a repayment mortgage of £205,000 over a 30 year term, with an initial rate fixed at 1.70% for the first 2 years. After the initial 2 year period, the rate will revert to the lenders variable rate for the remainder of the term – currently 4.24%. The actual rate will depend upon your circumstances. Interest rate correct as at 01.2.20. The total amount payable over the term of the mortgage is £290,988.67 This is made up of 24 instalments at £607.97 followed by 336 instalments at £818.97 based on current Standard Variable Rate. An arrangement fee of £999 is payable on application, this fee can be added to the mortgage but will be subject to additional interest charges. Early repayment charges apply. Loans are subject to availability and subject to status. Other fees may apply. Ask for a personalised illustration.

The Government will retain a share of the property value. This must be repaid on sale or transfer of your property.

Repayment of the share is based on open market value at the point of sale or transfer, if the sale price is higher than the value, then the repayment is based on the sale price.

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.