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 due to open by the end of June 2026, offering up to £10,000 in Scottish Government shared-equity support for eligible first-time buyers.
We can help you understand what is confirmed, what is still awaiting guidance, and how to get your mortgage position ready before applications open.
The new First Homes Fund is due to open by the end of June 2026, offering up to £10,000 in Scottish Government shared-equity support for eligible first-time buyers.
We can help you understand what is confirmed, what is still awaiting guidance, and how to get your mortgage position ready before applications open.
Register for First Homes Fund updates
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. The headline support is up to £10,000 towards a deposit on a home valued up to £300,000.
Under the current guidance, 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.
The full application process has not been published yet, so the most useful step right now is reviewing your mortgage position, and make sure that you are ready when the official route opens.
The First Homes Fund is a new Scottish Government shared-equity scheme for first-time buyers in Scotland. The headline support is up to £10,000 towards a deposit on a home valued up to £300,000.
Under the current guidance, 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.
The full application process has not been published yet, so the most useful step right now is reviewing your mortgage position, and make sure that you are ready when the official route opens.
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:
What has been confirmed so far?
Who it is for?
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 announced rules say 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 support is described as a Scottish Government shared-equity contribution towards the deposit, not a normal mortgage product and not a cash gift.
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.
What has been confirmed so far?
Who it is for?
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 announced rules say 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 support is described as a Scottish Government shared-equity contribution towards the deposit, not a normal mortgage product and not a cash gift.
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, and able to advise clients across the UK, Mark holds professional qualifications in both mortgage and insurance advice and is a member of the London Institute of Banking & Finance, allowing him to deliver comprehensive solutions tailored to the unique needs of each client.
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, and able to advise clients across the UK, Mark holds professional qualifications in both mortgage and insurance advice and is a member of the London Institute of Banking & Finance, allowing him to deliver comprehensive solutions tailored to the unique needs of each client.
Mark Forbes
Mark Forbes
Adviser
Adviser
How the First Homes Fund works
How the First Homes Fund works
The fund may help reduce the upfront deposit pressure, but the mortgage still has to be affordable and suitable. That means it is worth checking your position early, rather than waiting until applications open.
We can talk you through what documents you will likely need and what may be realistic before you start viewing homes.
The fund may help reduce the upfront deposit pressure, but the mortgage still has to be affordable and suitable. That means it is worth checking your position early, rather than waiting until applications open.
We can talk you through what documents you will likely need and what may be realistic 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!
The First Home Fund helps remove the deposit barrier
The First Home Fund helps remove the deposit barrier
The confirmed support is up to £10,000 towards the deposit, subject to the final scheme rules and application process.
The confirmed support is up to £10,000 towards the deposit, subject to the final scheme rules and application process.
You still need a mortgage
You still need a mortgage
The 2026 scheme is for buyers purchasing with a mortgage. Lenders will still assess affordability, income, commitments, credit profile and the property itself.
The 2026 scheme is for buyers purchasing with a mortgage. Lenders will still assess affordability, income, commitments, credit profile and the property itself.
Shared equity needs careful consideration
Shared equity needs careful consideration
Because the Scottish Government takes an equity share, buyers should understand how that may affect future sale, repayment and remortgage decisions once full guidance is published.
Because the Scottish Government takes an equity share, buyers should understand how that may affect future sale, repayment and remortgage decisions once full guidance is published.
The details may change as guidance appears
The details may change as guidance appears
The application process has not yet been published. We’ll update this page as official guidance is released.
The application process has not yet been published. We’ll update this page as official guidance is released.
What should I get ready before applications open?
What should I get ready before applications open?
The official document list has not been published yet, but the mortgage side of the process will still require normal checks. Getting organised now can make it easier to move when the fund opens.
The official document list has not been published yet, but the mortgage side of the process will still require normal checks. Getting organised now can make it easier to move when the fund opens.
Proof of identity and address
Proof of identity and address
Make sure your basic ID and address details are up to date and consistent.
Make sure your basic ID and address details are up to date and consistent.
Income evidence
Income evidence
Lenders will usually need proof of income, whether you are employed, self-employed or have more complex earnings.
Lenders will usually need proof of income, whether you are employed, self-employed or have more complex earnings.
Bank statements
Bank statements
Your spending, commitments and general account conduct can form part of the affordability review.
Your spending, commitments and general account conduct can form part of the affordability review.
Deposit and savings evidence
Deposit and savings evidence
You may still need to evidence your own savings and where they came from, even if the fund helps with part of the deposit.
You may still need to evidence your own savings and where they came from, even if the fund helps with part of the deposit.
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.
Next steps before the First Homes Fund opens
The first round is due to open by the end of June 2026, with more application information still to follow. We can help you understand the mortgage steps that sit alongside the fund.
Register for updates
Leave your details so we can let you know when official application guidance is published.
The longer and clearer your recent earning pattern is, the easier it is to explain. Six months may be enough in some situations, while other lenders will look for twelve months or longer. A shorter history is not impossible, but can be more limited.
Understand the scheme rules
We’ll help you compare your plans with the confirmed points: first-time buyer status, property requirements, and credit history.
Sense-check affordability
The fund may help with deposit pressure, but your mortgage still needs to fit lender affordability checks.
Prepare your documents
Getting income, bank statements and deposit evidence ready early can reduce delays later.
Next steps before the First Homes Fund opens
The first round is due to open by the end of June 2026, with more application information still to follow. We can help you understand the mortgage steps that sit alongside the fund.
Register for updates
Leave your details so we can let you know when official application guidance is published.
Understand the scheme rules
We’ll help you compare your plans with the confirmed points: first-time buyer status, property requirements, and credit history.
Sense-check affordability
The fund may help with deposit pressure, but your mortgage still needs to fit lender affordability checks.
Prepare your documents
Getting income, bank statements and deposit evidence ready early can reduce delays later.
Frequently Asked Questions
Straight answers to common questions
Is the First Homes Fund open now?
A.
The Scottish Government has said the first round will open by the end of June 2026. More information on how to apply is still due to be published.
How much support could I get?
A.
The confirmed headline support is up to £10,000 towards a deposit, subject to the final scheme rules and application process.
Is the £10,000 a grant?
A.
No, not based on the current official wording. The scheme is described as shared equity, meaning the Scottish Government takes an equity share in the property.
Do I pay interest on the Government share?
A.
The official announcement says there are no monthly payments to the Scottish Government and no interest is charged. The Government’s percentage equity share would normally be repaid when the home is sold.
What property price can I buy up to?
A.
The announced property value limit is £300,000.
Can I use the fund for a new-build home?
A.
Yes, the current official information says the scheme will apply to both new-build and existing properties, as long as the purchase is with a mortgage.
Do I need to be a first-time buyer?
A.
Yes. The current definition says a first-time buyer is someone who does not own, and has not previously owned, a property in Scotland or anywhere else in the world.
Will I still need a mortgage?
A.
Yes. The scheme is for purchases made with a mortgage, so lender affordability and criteria will still matter.
What if I am buying jointly?
A.
The full joint-applicant rules have not yet been published. This is one of the areas to check carefully once official guidance is released.
Frequently Asked Questions
Straight answers to common questions
Is the First Homes Fund open now?
A.
The Scottish Government has said the first round will open by the end of June 2026. More information on how to apply is still due to be published.
How much support could I get?
A.
The confirmed headline support is up to £10,000 towards a deposit, subject to the final scheme rules and application process.
Is the £10,000 a grant?
A.
No, not based on the current official wording. The scheme is described as shared equity, meaning the Scottish Government takes an equity share in the property.
Do I pay interest on the Government share?
A.
The official announcement says there are no monthly payments to the Scottish Government and no interest is charged. The Government’s percentage equity share would normally be repaid when the home is sold.
What property price can I buy up to?
A.
The announced property value limit is £300,000.
Can I use the fund for a new-build home?
A.
Yes, the current official information says the scheme will apply to both new-build and existing properties, as long as the purchase is with a mortgage.
Do I need to be a first-time buyer?
A.
Yes. The current definition says a first-time buyer is someone who does not own, and has not previously owned, a property in Scotland or anywhere else in the world.
Will I still need a mortgage?
A.
Yes. The scheme is for purchases made with a mortgage, so lender affordability and criteria will still matter.
What if I am buying jointly?
A.
The full joint-applicant rules have not yet been published. This is one of the areas to check carefully once official guidance is released.
Contact Us
Contact Us
Get ready for the First Homes Fund
Get ready for 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 what is confirmed, what still needs official guidance, and whether your mortgage position looks ready enough to move when the fund opens.
If you’d like to explore what’s possible or simply have a question, we’re always happy to start the conversation.
If you’d like to explore what’s possible or simply have a question, we’re always happy to start the conversation.
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.