First Home Fund in Scotland

Stepping onto the property ladder is now even easier, as you can secure a £25,000 interest-free loan when you buy your first home. 

This new government scheme can significantly reduce your monthly mortgage repayments, and is available on new build and pre-owned homes across Scotland.

How does it work?

• You must provide a minimum of a 5% deposit
• Your mortgage must be at least 25% of the purchase price
• You can receive up to £25,000 as an interest-free equity loan from the Scottish Government
• There is no upper price limit

Who is this available for?

This new scheme is open to all first-time buyers in Scotland, and this property must be your primary residence. If you’re buying with your partner, only one of you needs to be a first-time buyer.

Will I own my home?

Yes. Although the Scottish Government will have an equity share in your new home, you will own it outright. 

No interest will be charged, and no monthly payments need to be paid to the Scottish Government. You can pay the equity loan back when you sell your property, or you can choose to buy them out if you wish.