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.



First home fund graphic


Plots available with the First Home Fund:

3 bed home in Cove, Aberdeen

3 bed home in Cove, Aberdeen

Plot 40, The Tewel at Charleston Grange
Purchase price: £274,995

View plot
4 bed home in Alford

4 bed home in Alford

Plot 158, The Tummel at Kingsford Rise
Purchase price: £273,495

View plot
4 bed home in Alford

3 bed home in Countesswells

Plot 10, The Tewel at Countesswells
Purchase price: £284,995

View plot
3 bed home in Broughty Ferry

3 bed home in Broughty Ferry

Plot 131, The Keir at Balgillo Heights
Purchase price: £219,995

View plot

More information…

For further information and terms and conditions of the New Home Fund, please visit the Scottish Government website.

For queries relating to mortgages and this new scheme, please obtain independent financial advice. Our preferred independent financial advisor is
Gail Reid Mortgage Services