Your First Home might be closer than you think

Here's everything you need to know about the Scottish Government First Homes Fund

• What is the First Homes Fund?

  The First Homes Fund is a Scottish Government shared equity scheme designed to help first-time buyers buy a home sooner.

  Instead of borrowing the full purchase price yourself, the government contributes a percentage towards the property through a shared equity agreement. That can reduce the size of the mortgage and deposit you need upfront.

  You can use the fund to purchase a property with a home report value of up to £300,000.

• Is the First Homes Fund reopening?

  The Scottish Government has announced that the First Homes Fund has reopened as of 24 June 2026.

• Who is eligible for the First Homes Fund?

  The First Homes Fund is open to all first-time buyers in Scotland. There are no restrictions on the:

  • age of the property
  • location of the property

  You can use the fund to purchase a property with a home report value of up to £300,000.

  There is a limit of one application per property. You can make a joint application but only one award of up to £10,000 can be made.

  You must have a mortgage that covers at least 25% of the purchase price of your property. The mortgage needs to be capital repayment and not interest-only.

• How much deposit do I need?

  The amount you’ll need will depend on your circumstances, the property you’re buying, and the mortgage products available to you.

  Some buyers may still be able to purchase with a relatively small deposit, but it’s important to understand the full costs involved before making any decisions.

  That’s where personal advice can make a big difference.

• How do I know if shared equity is right for me?

  Shared equity can be a great option for some buyers, but it won’t be right for everyone.

  We’ll talk you through:

  • how shared equity works
  • what it could mean long term
  • alternative options that may be available
  • whether it fits your plans and budget

  Our advice is always focused on what’s right for you.

• What happens if applications fill up quickly?

  The Scottish Government have announced that the first phase of the scheme is now open. They have indicated that the fund will support 50,000 households over the course of this Parliment. Over the years, we have seen that Government schemes can be popular, which is why preparation matters.

  We can help you get organised by:

  • understanding your budget
  • arranging a mortgage in principle
  • gathering key documents
  • explaining the process step-by-step
  • helping you make the First Homes Fund application
• Do you charge for advice for First Homes Fund?

  No, our mortgage advice is completely fee-free. Our service is paid for by the lenders. We can compare deals from across the big banks, and smaller or specialist lenders, too.

  Currently there are five mortgage lenders who have signed up to the scheme, but this number is expected to grow in the coming months.

  We provide impartial advice tailored to our customers' unique circumstances and we have never charged customers for our service since we began in 1997.

• Can you help if I’m not eligible for the scheme?

  Absolutely.

  The First Homes Fund is only one possible route onto the property ladder. We’ll also help you explore:

  • low deposit mortgages
  • affordable housing schemes
  • lender-specific products
  • other options that may suit your circumstances

  We’re here to help you understand the full picture, not just one scheme.

• Can I speak to a real person?

  Always. Our people are what make us.

  Our advisors take the time to understand your situation and explain your options, whether you prefer speaking over the phone, online or in person in one of our branches throughout Scotland.