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Get up to £25,000 towards buying your first home with the help of the Scottish Government’s First Home Fund

Available to all first time buyers in Scotland, the funding is offered in the form of a shared ownership arrangement. This means the Scottish Government will purchase a portion of the property with the funding, leaving you to fund the remainder with your deposit and a mortgage.

As part of the scheme, you will need to provide a minimum deposit of 5% of the property value and your mortgage must be at least 25% of the purchase price.

There are no monthly repayments to the Scottish Government for their contribution and no interest will be charged – instead, you can choose to increase your equity stake over time or you can repay their share when you sell your home.

As an example, if your deposit and mortgage pays for 85% of the home’s value, the Scottish Government will hold a 15% share. This means that when you sell your property, 15% of the final sale price will be paid to the Scottish Government.

All first time buyers in Scotland are eligible for the scheme, and there are no restrictions based on earnings or the value of the property – so long as the government’s contribution doesn’t make up more than 49% of the property value.

Although the Scottish Government will have an equity share in the property, you will own the property outright.

Mortgage advice that won’t cost you a penny


Speak to one of our advisors today and we’ll be happy to advise you on how much can borrow and whether the First Home Fund is right for you. Whatever your mortgage needs, we take our time to understand your unique set of circumstances to see what’s really possible.

We don’t stop at finding the very best mortgage deal for you either, we go that extra mile in ensuring a hassle-free home purchase, liaising with your solicitor and conveyancer, and even doing all the paperwork for you – so that you can, well, get on with your day!

So whether you’ve already found that dream home or you simply want to know how much you can afford to borrow - we’re ready when you are, in-branch over a cup of coffee or over the phone using our nationwide telephone service, the choice is yours!

How Much Can I Borrow?

Your advisor will calculate exactly how much you can borrow based on your personal circumstances, and what that would cost, whilst explaining the purchasing process in simple terms – no jargon!

Single Application Joint Application

Great news, you could borrow up to: £45,000

Great news, you could borrow up to: £35,000

To find out exactly how much you can borrow based on your specific circumstances, please make an enquiry to speak to an advisor.

Quick Enquiry

Eligibility Criteria

  • Only open to first time buyers who have not previously owned a property anywhere in the world. If you are making a joint application, only one is required to be a first time buyer.
  • The property purchase must be at least 25% funded by a capital and interest repayment mortgage.
  • The applicant(s) must put down a minimum deposit of 5%.
  • The property must be the applicant’s sole residence. It may not be let out.
  • The First Home Fund cannot be combined with any other Scottish Government schemes.
  • Help to Buy ISA or LISA funds may be used towards the deposit.
  • Applicants must have had an offer accepted (even if verbally) before applying.

Scheme Details

  • Both new build and existing properties may be purchased.
  • There is no cap on the maximum property value. The First Home Fund contribution cannot exceed the lower of 49% of the value of the property, or £25,000.
  • Properties can be purchased above market value. However, the equity share will be calculated based on the property valuation, or the purchase price if lower.
  • There is no fixed deadline for repayment and no interest is charged.
  • On the sale of the property, the Scottish Governments equity share is calculated on the sale price and repaid in full.
  • Homeowners may increase their share at any point, in tranches of 5% or more. If their share is at 90%, it can only be increased to 100%.

The First Home Fund was launched by the Scottish Government in December 2019 to help first time buyers buy their first property. The scheme will run until the £150m fund has been drawn down, or until March 2021.

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We’re not just any mortgage broker – we’re a free, award winning mortgage broker with access to the best deals out there. And there’s no catch. While most mortgage brokers will charge you a hefty fee for using their service, we don’t. Our service is funded entirely by mortgage lenders, so you can bid farewell to advice fees. Did we mention we’ll even do all the paperwork for you?

No hard sells. No obligation. Just fee-free advice.

Our Promise

Because your peace of mind matters to us.

We’re so confident in finding the best mortgage or remortgage deal available to you that every mortgage we source comes fully backed by our one of a kind mortgage guarantee.

If you can get a better mortgage offer from anywhere else, we’ll give you £500.

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