First home fund
The First Home Fund is run by the Scottish Government and aims to help first-time homebuyers purchase a property.
New £150 million Scottish Government First Time Buyer Scheme*
- Open to first-time buyers, or joint applicants who are buying with a first-time buyer
- A government equity loan of up to £25,000 or 49% of the property value, whichever is lower.
- No means-testing.
- No property price limits.
- Available for new build homes.
- No monthly repayments: the loan can simply be cleared off at any time, or on sale of the property.
- Can be combined with a Help to Buy or Lifetime ISAs
Further Information If you would like any further information on the First Home Fund please contact one our sales team or contact the Administering Agent at the details below:
Link Housing Watling House Callendar Business Park Falkirk FK1 1XR
Telephone: 0330 303 0125
Terms and Conditions
Buyers will be required to take out a mortgage, and there will be a minimum mortgage requirement of 25% of the property value, as is the case for Help to Buy.2. Buyers will be required to fund up to 5% of the property price themselves, though this is subject to lender criteria and maybe less. 3. A £550.00 administration fee is payable to the Scheme Administrators but this would be refunded if the application is unsuccessful.