Head of Content
Mortgage Advisor & Director
About the scheme
Open to first time buyers in Scotland, the First Home Fund Scheme allows you to secure up to £25,000 to put towards a property.
The Scottish Government will own a share of the property, which will be dependant upon the value. If you sell up, the Scottish Government will receive their share of the proceeds. You may choose to increase your equity share at any time.
Eligibility and conditions
- All first-time buyers in Scotland are eligible.
- The scheme is open to both single and joint applicants.
- There are no restrictions on property age or value.
- You will own the property but will need a mortgage to ensure the Scottish Government's share is protected.
- if you decide to increase your equity share, this must be by a minimum of 5%.
- The property must be valued each time a request for equity is made.
- You are not permitted to rent or sublet your home under the scheme.
More information
Our team of experienced advisors have helped many people to secure the best deal possible on their First Fund mortgage, complete our simple online form today to get started!
For further information visit the Scottish Government website.
Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.
