Expert
Mortgage Advice for Scotland’s 2026 First Homes Fund
Expert
Mortgage Advice for Scotland’s 2026 First Homes Fund
The new First Homes Fund is open from 24th June 2026, offering up to £10,000 in Scottish Government shared-equity support for eligible first-time buyers.
We can help you understand how the scheme works and get your mortgage position ready.
The new First Homes Fund is open from 24th June 2026, offering up to £10,000 in Scottish Government shared-equity support for eligible first-time buyers.
We can help you understand how the scheme works and get your mortgage position ready.
Register for First Homes Fund info
You voluntarily choose to provide personal details to us via this website. Personal information will be treated as confidential by us and held in accordance with GDPR May 2018 requirements. You agree that such personal information may be used to provide you with details of services and products in writing, by email or by telephone.
By submitting this information you have given your agreement to be contacted by us to discuss your mortgage requirements.
Please see our Privacy Policy for further details on how we use your information.
You voluntarily choose to provide personal details to us via this website. Personal information will be treated as confidential by us and held in accordance with GDPR May 2018 requirements. You agree that such personal information may be used to provide you with details of services and products in writing, by email or by telephone.
By submitting this information you have given your agreement to be contacted by us to discuss your mortgage requirements.
Please see our Privacy Policy for further details on how we use your information.
First Homes Fund
First Homes Fund
What is the First Homes Fund?
What is the First Homes Fund?
The First Homes Fund is a new Scottish Government shared-equity scheme for first-time buyers in Scotland. You can apply for up to £10,000 towards a deposit on a home valued up to £300,000.
Under the scheme rules, the Scottish Government takes an equity share in the property. There are no monthly payments to the Government and no interest is charged, with the Government’s share normally repaid when the property is sold.
Applications are made through Link Housing, which we can assist with alongside your mortgage application.
The First Homes Fund is a new Scottish Government shared-equity scheme for first-time buyers in Scotland. You can apply for up to £10,000 towards a deposit on a home valued up to £300,000.
Under the scheme rules, the Scottish Government takes an equity share in the property. There are no monthly payments to the Government and no interest is charged, with the Government’s share normally repaid when the property is sold.
Applications are made through Link Housing, which we can assist with alongside your mortgage application.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Quick answers:
Quick answers:
The First Homes Fund at a glance →
At a glance →
How the First Homes Fund works →
How it works →
What to get ready before you apply →
Getting ready to apply →
Key details of the First Homes Fund →
Key details of the scheme →
Other low or no deposit options →
Other options →
Straight answers to common questions →
Common questions →
The First Homes Fund at a glance
Who can apply?
The scheme is for first-time buyers in Scotland. The current definition is someone who does not own, and has not previously owned anywhere in the world.
What property can I buy?
The scheme rules confirm the fund can support purchases of new-build or existing properties, with a property value of up to £300,000.
How the £10,000 works
The Scottish Government provides a £10,000 interest free loan, which is secured over your home in the same way a mortgage would be. This is known as a Shared Equity loan.
Shared equity
The Government takes an equity share. There are no monthly payments to the Government and no interest is charged.
Sounds like it could help you get on the ladder?
Speak with an adviser.
The First Homes Fund at a glance
Who can apply?
The scheme is for first-time buyers in Scotland. The current definition is someone who does not own, and has not previously owned anywhere in the world.
What property can I buy?
The scheme rules confirm the fund can support purchases of new-build or existing properties, with a property value of up to £300,000.
How the £10,000 works
The Scottish Government provides a £10,000 interest free loan, which is secured over your home in the same way a mortgage would be. This is known as a Shared Equity loan.
Shared equity
The Government takes an equity share. There are no monthly payments to the Government and no interest is charged.
Sounds like it could help you get on the ladder?
Speak with an adviser.
Why so many clients choose to work with us
Why so many clients choose to work with us
Why so many clients choose to work with us
For a lot of people, applying for a mortgage is full of anxiety. It is the worry of getting something wrong, missing something important, or not knowing if you will get approved.
That is where we help. We keep things clear, talk things through properly, and make sure you understand what matters and what your options actually look like. That's why 9 out of 10 people choose to use a mortgage broker when applying for a new mortgage¹.
If that sounds like what you need, get in touch today.
¹ IMLA Dec 2024
For a lot of people, applying for a mortgage is full of anxiety. It is the worry of getting something wrong, missing something important, or not knowing if you will get approved.
That is where we help. We keep things clear, talk things through properly, and make sure you understand what matters and what your options actually look like. That's why 9 out of 10 people choose to use a mortgage broker when applying for a new mortgage¹.
If that sounds like what you need, get in touch today.
¹ IMLA Dec 2024
For a lot of people, applying for a mortgage is full of anxiety. It is the worry of getting something wrong, missing something important, or not knowing if you will get approved.
That is where we help. We keep things clear, talk things through properly, and make sure you understand what matters and what your options actually look like. That's why 9 out of 10 people choose to use a mortgage broker when applying for a new mortgage¹.
If that sounds like what you need, get in touch today.
¹ IMLA Dec 2024
Meet your specialist adviser
Meet your specialist adviser
Mark Forbes joined Advantage Home Finance in 2019 and has 20+ years of experience in retail banking and mortgages, spanning advisory, training and compliance roles. Based near Glasgow, Mark helps first-time buyers across Scotland understand the First Homes Fund, prepare their mortgage application and plan the next steps with clear, practical advice.
Mark Forbes joined Advantage Home Finance in 2019 and has 20+ years of experience in retail banking and mortgages, spanning advisory, training and compliance roles. Based near Glasgow, Mark helps first-time buyers across Scotland understand the First Homes Fund, prepare their mortgage application and plan the next steps with clear, practical advice.
Mark Forbes
Mark Forbes
Adviser
Adviser
How the First Homes Fund works
How the First Homes Fund works
The First Homes Fund can reduce the upfront deposit needed when buying a first home in Scotland. Like any shared-equity scheme, it is worth checking how the contribution, mortgage and future repayment could work for your circumstances.
We will talk you through the scheme rules, the documents needed and the mortgage options before you start viewing homes.
The First Homes Fund can reduce the upfront deposit needed when buying a first home in Scotland. Like any shared-equity scheme, it is worth checking how the contribution, mortgage and future repayment could work for your circumstances.
We will talk you through the scheme rules, the documents needed and the mortgage options before you start viewing homes.
Did you know…?
Did you know…?
Did you know…?
Over the last decade, we have helped more than 1650 clients with their mortgage, securing in excess of £425 million of lending!
We’ve helped 1,650+ clients secure over £425 million in lending.
Over the last decade, we have helped more than 1650 clients with their mortgage, securing in excess of £425 million of lending!
Help towards your deposit
Help towards your deposit
The support is up to £10,000 towards your deposit, available now through the live scheme.
The support is up to £10,000 towards your deposit, available now through the live scheme.
You still need a mortgage
You still need a mortgage
The 2026 scheme is for first-time buyers purchasing with a mortgage. Lenders will still assess affordability, income, commitments, credit profile and the property itself alongside the First Homes Fund rules.
The 2026 scheme is for first-time buyers purchasing with a mortgage. Lenders will still assess affordability, income, commitments, credit profile and the property itself alongside the First Homes Fund rules.
Shared equity needs careful consideration
Shared equity needs careful consideration
Because the Scottish Government takes an equity share, it’s worth understanding how that affects future sale, repayment and remortgage decisions before you commit. We can chat through what this means to you.
Because the Scottish Government takes an equity share, it’s worth understanding how that affects future sale, repayment and remortgage decisions before you commit. We can chat through what this means to you.
How to apply to the scheme
How to apply to the scheme
Applications are made through Link Housing once you have an accepted offer or reserved plot. We’ll help you get your mortgage ready as well as applying for the scheme.
Applications are made through Link Housing once you have an accepted offer or reserved plot. We’ll help you get your mortgage ready as well as applying for the scheme.
What to get ready before you apply
What to get ready before you apply
Applications are made through Link Housing once your offer is accepted, and standard mortgage and affordability checks apply. Getting organised now makes it easier to move quickly when you are ready.
Applications are made through Link Housing once your offer is accepted, and standard mortgage and affordability checks apply. Getting organised now makes it easier to move quickly when you are ready.
Proof of identity and address
Proof of identity and address
Make sure your basic ID and address details are up to date and consistent. This includes keeping bank and credit accounts aligned with your current address, and checking you are registered on the Voter’s Roll where appropriate.
Make sure your basic ID and address details are up to date and consistent. This includes keeping bank and credit accounts aligned with your current address, and checking you are registered on the Voter’s Roll where appropriate.
Income evidence
Income evidence
Lenders will usually need proof of income, whether you are employed, self-employed or have more complex earnings. We can talk through what a lender is likely to count as income, and what evidence may be needed for a First Homes Fund purchase.
Lenders will usually need proof of income, whether you are employed, self-employed or have more complex earnings. We can talk through what a lender is likely to count as income, and what evidence may be needed for a First Homes Fund purchase.
Bank statements
Bank statements
Your spending, commitments and general account conduct can form part of the affordability review. The scheme rules say that your new mortgage as well as certain outgoings such as credit commitments can't total more than 45% of your take home pay.
Your spending, commitments and general account conduct can form part of the affordability review. The scheme rules say that your new mortgage as well as certain outgoings such as credit commitments can't total more than 45% of your take home pay.
Deposit and savings evidence
Deposit and savings evidence
You need to provide evidence of your own deposit and where they came from, even if the fund helps with part of the deposit. At present, you are required to provide 5% of the value, as well as any amount that you want to pay over the property value from your own means. This can be savings, or a gift from a close relative.
You need to provide evidence of your own deposit and where they came from, even if the fund helps with part of the deposit. At present, you are required to provide 5% of the value, as well as any amount that you want to pay over the property value from your own means. This can be savings, or a gift from a close relative.
Property budget
Property budget
The confirmed property value limit is £300,000, so it helps to know your realistic search range before viewing.
The confirmed property value limit is £300,000, so it helps to know your realistic search range before viewing.
Key details of the First Homes Fund
The scheme opened on 24 June 2026, giving eligible first-time buyers in Scotland shared-equity support towards a first home. Here are the key details to know before you apply.
Deposit requirements
You may need a deposit of around 5%, depending on the participating mortgage lender and your circumstances. The mortgage must be on a capital repayment basis and cover at least 25% of the purchase price or valuation, whichever is lower.
£650 Application Fee
A £650 application fee is payable once your application has been approved. Payment instructions are included within the Award Letter. The fee is refunded when an agreed purchase does not complete, provided the information supplied within the application was accurate and complete.
Award Letter
Once your Award Letter is issued, you have three months to conclude missives. You then have a further six months to complete the purchase. A fresh application is required when missives are not concluded within the initial three-month period.
Repaying the loan
The Scottish Government’s contribution becomes a percentage stake in your home, with no monthly payments or interest. When you sell, you repay the same percentage of the property’s sale price or current value. You can also buy out some or all of the stake earlier.
Use Your Lifetime or Help to Buy ISA
Use Your Lifetime or Help to Buy ISA
Savings held within a Lifetime ISA or Help to Buy ISA can be used towards your deposit alongside the First Homes Fund. This allows eligible buyers to combine their ISA savings and bonus with the scheme’s shared-equity contribution when purchasing their first home.
Joint Buyers
For a joint purchase, only one applicant needs to be a first-time buyer. Any other applicant must no longer own another property when the new purchase completes. Joint applicants receive one First Homes Fund award of up to £10,000 for the property.
Key details of the First Homes Fund
The scheme opened on 24 June 2026, giving eligible first-time buyers in Scotland shared-equity support towards a first home. Here are the key details to know before you apply.
Deposit requirements
You may need a deposit of around 5%, depending on the participating mortgage lender and your circumstances. The mortgage must be on a capital repayment basis and cover at least 25% of the purchase price or valuation, whichever is lower.
£650 Application Fee
A £650 application fee is payable to Link Housing once your application has been approved. Payment instructions are included within the Award Letter. The fee is refunded when an agreed purchase does not complete, provided the information supplied within the application was accurate and complete.
Award Letter
Once your Award Letter is issued, you have three months to conclude missives. You then have a further six months to complete the purchase. A fresh application is required when missives are not concluded within the initial three-month period.
Repaying the loan
The Scottish Government’s contribution becomes a percentage stake in your home, with no monthly payments or interest. When you sell, you repay the same percentage of the property’s sale price or current value. You can also buy out some or all of the stake earlier.
Use Your Lifetime or Help to Buy ISA
Savings held within a Lifetime ISA or Help to Buy ISA can be used towards your deposit alongside the First Homes Fund. This allows eligible buyers to combine their ISA savings and bonus with the scheme’s shared-equity contribution when purchasing their first home.
Joint Buyers
For a joint purchase, only one applicant needs to be a first-time buyer. Any other applicant must no longer own another property when the new purchase completes. Joint applicants receive one First Homes Fund award of up to £10,000 for the property.
How does it work?:
An example of buying a £200,000 home
How does it work?:
An example of buying a £200,000 home
Isla and Jamie have found a home in Scotland for £200,000. Isla is a first-time buyer, while Jamie previously owned a property, which will have been sold before their new purchase completes. Only one person in a joint application needs to be a first-time buyer, and a joint purchase receives a single First Homes Fund award.
They have saved £10,000, including money from Isla’s Lifetime ISA, giving them a deposit equal to 5% of the price. The First Homes Fund then contributes a further £10,000, so they need a £180,000 mortgage to reach the £200,000 total.
What the Scottish Government owns
The £10,000 contribution equals 5% of the property’s value (£10,000 ÷ £200,000). Isla and Jamie own their home and hold the legal title, while the Scottish Government holds a 5% equity stake. There are no monthly payments or interest on that stake, and the amount eventually repaid is based on 5% of the property’s future value rather than a fixed £10,000.
What happens when they sell
If they later sell for £240,000, the Scottish Government’s 5% share would be £12,000 and their own 95% share £228,000, with the outstanding mortgage and selling costs paid from their share. The stake moves with the property’s value, so a sale at £180,000 would leave the 5% share at £9,000.
How the application could progress
Once they have an accepted offer on a property and a mortgage decision in principle, we would advise on the most suitable mortgage and complete the required paperwork for their new lender and the First Homes Fund on their behalf.
After a successful application, missives must be concluded (the purchase formally agreed via your solicitor) within three months of the Award Letter being issued, and they then have a further six months to complete the purchase. The First Homes Fund contribution is sent directly to their solicitor before the purchase completes.
Isla and Jamie have found a home in Scotland for £200,000. Isla is a first-time buyer, while Jamie previously owned a property, which will have been sold before their new purchase completes. Only one person in a joint application needs to be a first-time buyer, and a joint purchase receives a single First Homes Fund award.
They have saved £10,000, including money from Isla’s Lifetime ISA, giving them a deposit equal to 5% of the price. The First Homes Fund then contributes a further £10,000, so they need a £180,000 mortgage to reach the £200,000 total.
What the Scottish Government owns
The £10,000 contribution equals 5% of the property’s value (£10,000 ÷ £200,000). Isla and Jamie own their home and hold the legal title, while the Scottish Government holds a 5% equity stake. There are no monthly payments or interest on that stake, and the amount eventually repaid is based on 5% of the property’s future value rather than a fixed £10,000.
What happens when they sell
If they later sell for £240,000, the Scottish Government’s 5% share would be £12,000 and their own 95% share £228,000, with the outstanding mortgage and selling costs paid from their share. The stake moves with the property’s value, so a sale at £180,000 would leave the 5% share at £9,000.
How the application could progress
Once they have an accepted offer on a property and a mortgage decision in principle, we would advise on the most suitable mortgage and complete the required paperwork for their new lender and the First Homes Fund on their behalf.
After a successful application, missives must be concluded (the purchase formally agreed via your solicitor) within three months of the Award Letter being issued, and they then have a further six months to complete the purchase. The First Homes Fund contribution is sent directly to their solicitor before the purchase completes.
When another route may work better
When another route may work better
The First Homes Fund can provide valuable support towards buying your first home. Your deposit, preferred ownership structure and required mortgage amount may mean another route is more suitable.
While the First Homes Fund can provide valuable support towards buying your first home. Your deposit, preferred ownership structure and required mortgage amount may mean another route is more suitable.
You have less than a 5% deposit
You have less than a 5% deposit
If you have less than a 5% deposit, some First Homes Fund mortgage options may not be available. We can also compare lower-deposit and no-deposit mortgage options where appropriate.
If you have less than a 5% deposit, some First Homes Fund mortgage options may not be available. We can also compare lower-deposit and no-deposit mortgage options where appropriate.
You would prefer to own the full equity
You would prefer to own the full equity
The First Homes Fund gives the Scottish Government a percentage stake in your property. A low-deposit mortgage could allow you to purchase without an equity partner, meaning any future increase in the property’s value remains yours.
The First Homes Fund gives the Scottish Government a percentage stake in your property. A low-deposit mortgage could allow you to purchase without an equity partner, meaning any future increase in the property’s value remains yours.
The £10,000 does not provide enough support
The £10,000 does not provide enough support
For some buyers, a £10,000 contribution may not reduce the mortgage enough to make the purchase affordable. Other shared-equity or part-purchase routes may provide a larger contribution, depending on your circumstances, location and the property.
For some buyers, a £10,000 contribution may not reduce the mortgage enough to make the purchase affordable. Other shared-equity or part-purchase routes may provide a larger contribution, depending on your circumstances, location and the property.
Your circumstances need a different approach
Your circumstances need a different approach
Income type, deposit source, previous credit issues or an unusual property can affect how a First Homes Fund purchase is assessed. Different lenders treat these situations differently, so it is worth checking the route before relying on the scheme.
Income type, deposit source, previous credit issues or an unusual property can affect how a First Homes Fund purchase is assessed. Different lenders treat these situations differently, so it is worth checking the route before relying on the scheme.
Which option could work for you?
Which option could work for you?
We can compare the First Homes Fund with other available routes based on your deposit, income, rental history and the home you would like to buy.
We can compare the First Homes Fund with other available routes based on your deposit, income, rental history and the home you would like to buy.
From enquiry to keys: First Homes Fund process
From enquiry to keys: First Homes Fund process
Let's have a chat
Let's have a chat
A relaxed, no-obligation first call. It is an informal conversation about where you are now, what you would like to do, and how the First Homes Fund works alongside a mortgage.
A relaxed, no-obligation first call. It is an informal conversation about where you are now, what you would like to do, and how the First Homes Fund works alongside a mortgage.
A relaxed, no-obligation first call. It is an informal conversation about where you are now, what you would like to do, and how the First Homes Fund works alongside a mortgage.
Eligibility & affordability
Eligibility & affordability
We check both your lender eligibility and the scheme’s rules, then come back with an indicative idea of how much you may be able to borrow and what it could cost, so your plans and the fund line up.
We check both your lender eligibility and the scheme’s rules, then come back with an indicative idea of how much you may be able to borrow and what it could cost, so your plans and the fund line up.
We check both your lender eligibility and the scheme’s rules, then come back with an indicative idea of how much you may be able to borrow and what it could cost, so your plans and the fund line up.
Find a property
Find a property
With a clear budget in mind, you can search for a home with confidence and make an offer knowing how the First Homes Fund and your mortgage fit together.
With a clear budget in mind, you can search for a home with confidence and make an offer knowing how the First Homes Fund and your mortgage fit together.
With a clear budget in mind, you can search for a home with confidence and make an offer knowing how the First Homes Fund and your mortgage fit together.
Apply for the First Homes Fund & your mortgage
Apply for the First Homes Fund & your mortgage
We advise on and arrange both applications, the First Homes Fund and your mortgage, and deal with the paperwork so everything is presented clearly and progresses smoothly.
We advise on and arrange both applications, the First Homes Fund and your mortgage, and deal with the paperwork so everything is presented clearly and progresses smoothly.
We advise on and arrange both applications, the First Homes Fund and your mortgage, and deal with the paperwork so everything is presented clearly and progresses smoothly.
Approval and next steps
Approval and next steps
Once your mortgage and the Fund are approved, you have three months to complete the legal paperwork and conclude missives, then a further six months to finalise the purchase.
Once your mortgage and the Fund are approved, you have three months to complete the legal paperwork and conclude missives, then a further six months to finalise the purchase.
Once your mortgage and the Fund are approved, you have three months to complete the legal paperwork and conclude missives, then a further six months to finalise the purchase.
Keys & move in
Keys & move in
The funds are paid to the seller's solicitor, the purchase completes, and you collect the keys to your new home!
The funds are paid to the seller's solicitor, the purchase completes, and you collect the keys to your new home!
The funds are paid to the seller's solicitor, the purchase completes, and you collect the keys to your new home!
Frequently Asked Questions
Straight answers to common questions
Is the Scottish First Homes Fund open for applications?
A.
Yes. The Scottish First Homes Fund is now open to eligible buyers purchasing their first home in Scotland. You can apply after your offer has been accepted on an existing property or after reserving a new-build home, and before your solicitor concludes missives.
How much can I get from the First Homes Fund?
A.
The Scottish Government can contribute up to £10,000 per property towards an eligible purchase. The support is provided alongside your deposit and repayment mortgage. Joint buyers receive one award of up to £10,000 for the property rather than a separate award for each applicant.
Is the First Homes Fund £10,000 a grant?
A.
The £10,000 is shared-equity support rather than a grant. In return for its contribution, the Scottish Government holds a percentage stake in your home. You remain the legal owner and are responsible for the property’s insurance, maintenance, repairs and running costs.
How much deposit do I need for the First Homes Fund?
A.
You may need a deposit of around 5%, depending on the mortgage lender and your circumstances. You must also take out a capital repayment mortgage covering at least 25% of the purchase price or property valuation, whichever figure is lower.
What properties can I buy with the First Homes Fund?
A.
You can use the scheme to buy an existing home or a new-build property in Scotland with a purchase price of up to £300,000. The property must become your main and only home, meaning the scheme cannot be used to purchase a buy-to-let property.
Do both buyers need to be first-time buyers?
A.
No. When buying jointly, at least one applicant must be a first-time buyer. A joint applicant who currently owns another property must sell it before the First Homes Fund purchase completes. The property being purchased must become the applicants’ main and only home.
Can I use a Lifetime ISA or Help to Buy ISA?
A.
Yes. You can use savings from a Lifetime ISA or Help to Buy ISA towards your deposit while also receiving support through the First Homes Fund. Your solicitor can help arrange the release of any eligible ISA bonus as part of the purchase process.
How much is the First Homes Fund application fee?
A.
The application fee is £650. Payment details are provided in your Award Letter following a successful application. The fee is refunded when the purchase does not conclude, except where false or misleading information was supplied with the application.
When and how do I repay the First Homes Fund?
A.
There are no monthly payments or interest on the Scottish Government’s equity stake. You normally repay its percentage share when you sell the property, based on the sale price or current value under the scheme rules. You can also increase your ownership share earlier in increments of at least 5%.
What if I don't have a 5% deposit?
A.
The First Homes Fund can be a great help, but it is not always the best fit. We can compare it against lower or even no deposit options to recommend the most suitable route for you.
Frequently Asked Questions
Straight answers to common questions
Is the Scottish First Homes Fund open for applications?
A.
Yes. The Scottish First Homes Fund is now open to eligible buyers purchasing their first home in Scotland. You can apply after your offer has been accepted on an existing property or after reserving a new-build home, and before your solicitor concludes missives.
How much can I get from the First Homes Fund?
A.
The Scottish Government can contribute up to £10,000 per property towards an eligible purchase. The support is provided alongside your deposit and repayment mortgage. Joint buyers receive one award of up to £10,000 for the property rather than a separate award for each applicant.
Is the First Homes Fund £10,000 a grant?
A.
The £10,000 is shared-equity support rather than a grant. In return for its contribution, the Scottish Government holds a percentage stake in your home. You remain the legal owner and are responsible for the property’s insurance, maintenance, repairs and running costs.
How much deposit do I need for the First Homes Fund?
A.
You may need a deposit of around 5%, depending on the mortgage lender and your circumstances. You must also take out a capital repayment mortgage covering at least 25% of the purchase price or property valuation, whichever figure is lower.
What properties can I buy with the First Homes Fund?
A.
You can use the scheme to buy an existing home or a new-build property in Scotland with a purchase price of up to £300,000. The property must become your main and only home, meaning the scheme cannot be used to purchase a buy-to-let property.
Do both buyers need to be first-time buyers?
A.
No. When buying jointly, at least one applicant must be a first-time buyer. A joint applicant who currently owns another property must sell it before the First Homes Fund purchase completes. The property being purchased must become the applicants’ main and only home.
Can I use a Lifetime ISA or Help to Buy ISA?
A.
Yes. You can use savings from a Lifetime ISA or Help to Buy ISA towards your deposit while also receiving support through the First Homes Fund. Your solicitor can help arrange the release of any eligible ISA bonus as part of the purchase process.
How much is the First Homes Fund application fee?
A.
The application fee is £650. Payment details are provided in your Award Letter following a successful application. The fee is refunded when the purchase does not conclude, except where false or misleading information was supplied with the application.
When and how do I repay the First Homes Fund?
A.
There are no monthly payments or interest on the Scottish Government’s equity stake. You normally repay its percentage share when you sell the property, based on the sale price or current value under the scheme rules. You can also increase your ownership share earlier in increments of at least 5%.
What if I don't have a 5% deposit?
A.
The First Homes Fund can be a great help, but it is not always the best fit. We can compare it against lower or even no deposit options to recommend the most suitable route for you.
Contact Us
Contact Us
Ready to use the First Homes Fund?
Ready to use the First Homes Fund?
The First Homes Fund could make a real difference for some first-time buyers, but the right next step depends on your deposit, income, property plans and timing.
We can help you understand how the scheme works, what you need before applying, and whether your mortgage position is ready to move.
The First Homes Fund could make a real difference for some first-time buyers, but the right next step depends on your deposit, income, property plans and timing.
We can help you understand how the scheme works, what you need before applying, and whether your mortgage position is ready to move.
You voluntarily choose to provide personal details to us via this website. Personal information will be treated as confidential by us and held in accordance with GDPR May 2018 requirements. You agree that such personal information may be used to provide you with details of services and products in writing, by email or by telephone.
By submitting this information you have given your agreement to be contacted by us to discuss your mortgage requirements.
Please see our Privacy Policy for further details on how we use your information.
You voluntarily choose to provide personal details to us via this website. Personal information will be treated as confidential by us and held in accordance with GDPR May 2018 requirements. You agree that such personal information may be used to provide you with details of services and products in writing, by email or by telephone.
By submitting this information you have given your agreement to be contacted by us to discuss your mortgage requirements.
Please see our Privacy Policy for further details on how we use your information.
You voluntarily choose to provide personal details to us via this website. Personal information will be treated as confidential by us and held in accordance with GDPR May 2018 requirements. You agree that such personal information may be used to provide you with details of services and products in writing, by email or by telephone.
By submitting this information you have given your agreement to be contacted by us to discuss your mortgage requirements.
Please see our Privacy Policy for further details on how we use your information.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
MOST BUY-TO-LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY
Advantage Home Finance is a trading name of Advantage Home Finance Limited who are an Appointed Representative of PRIMIS Mortgage Network, a trading name of Advance Mortgage Funding Ltd. Advance Mortgage Funding Ltd is authorised and regulated by the Financial Conduct Authority.
View our complaints procedure here.
Initial mortgage consultation is free.
We may charge a fee for our advice service which will depend on what mortgage you need, your financial circumstances, and the complexity of what you want. The amount of fee will be between £0 and 1% of the value you need to borrow up to a maximum of £2,000. For example, if your mortgage was £100,000 the maximum fee you would pay would be £1,000. The minimum fee charged is £0. You need to pay the fee when your mortgage application has completed.
The guidance and/or information contained within the website is subject to UK regulatory regime and is therefore targeted at consumers based in the UK.
Registered in Scotland. Registration number – SC511364.
Registered office address – 80 George Street, Edinburgh, Scotland, EH2 3BU.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
MOST BUY-TO-LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY
Advantage Home Finance is a trading name of Advantage Home Finance Limited who are an Appointed Representative of PRIMIS Mortgage Network, a trading name of Advance Mortgage Funding Ltd. Advance Mortgage Funding Ltd is authorised and regulated by the Financial Conduct Authority.
View our complaints procedure here.
Initial mortgage consultation is free.
We may charge a fee for our advice service which will depend on what mortgage you need, your financial circumstances, and the complexity of what you want. The amount of fee will be between £0 and 1% of the value you need to borrow up to a maximum of £2,000. For example, if your mortgage was £100,000 the maximum fee you would pay would be £1,000. The minimum fee charged is £0. You need to pay the fee when your mortgage application has completed.
The guidance and/or information contained within the website is subject to UK regulatory regime and is therefore targeted at consumers based in the UK.
Registered in Scotland. Registration number – SC511364.
Registered office address – 80 George Street, Edinburgh, Scotland, EH2 3BU.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
MOST BUY-TO-LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY
Advantage Home Finance is a trading name of Advantage Home Finance Limited who are an Appointed Representative of PRIMIS Mortgage Network, a trading name of Advance Mortgage Funding Ltd. Advance Mortgage Funding Ltd is authorised and regulated by the Financial Conduct Authority.
View our complaints procedure here.
Initial mortgage consultation is free.
We may charge a fee for our advice service which will depend on what mortgage you need, your financial circumstances, and the complexity of what you want. The amount of fee will be between £0 and 1% of the value you need to borrow up to a maximum of £2,000. For example, if your mortgage was £100,000 the maximum fee you would pay would be £1,000. The minimum fee charged is £0. You need to pay the fee when your mortgage application has completed.
The guidance and/or information contained within the website is subject to UK regulatory regime and is therefore targeted at consumers based in the UK.
Registered in Scotland. Registration number – SC511364.
Registered office address – 80 George Street, Edinburgh, Scotland, EH2 3BU.