First Home Fund

A guide to Scotland’s First Home Fund For First Time Buyers

Buy your first home with a £25,000 interest free equity loan. You just need 5% deposit! Ideal for 1st Time Buyers.

What is the First Home Fund?

The First Home Fund is a new scheme run by the Scottish Government to help first time buyers purchase a property in Scotland.

How does the First Home Fund work?

  • You require to provide a minimum deposit of around 5% (subject to individual lender requirements).
  • The Scottish Government will provide upto £25,000 towards the purchase of your first property.
  • Although the Scottish Government will have an equity share in the property, you will own the property outright.
  • There are no monthly payments or interest payments to the Scottish Government for their contribution and you will pay back the equity share when you sell the property – or you can choose to increase your equity share over time.
  • You must be a first time buyer who does not own, or has not previously owned, a property in the UK or abroad, either as a sole or joint owner. If you are applying for a joint mortgage only one applicant needs to be a first time buyer to qualify.
  • You cannot apply to other Scottish Government shared equity schemes such as Help to Buy (Scotland) while also applying for this scheme.

How do I apply?

As usual Next Home Mortgages are ideally placed to assist you with your application. Our expert advisers will guide you through the maze completing all relevant paperwork on your behalf.

To find out more call us on 01738 459069 option 3 , email us at or complete the enquiry form. 

First Home Fund Example

Purchase price £200,000

Purchaser deposit £10,000

Scottish Government loan £25,000

Mortgage £165,000

Typical mortgage payment based on a 35 year term £549

Next Home Open Days

Next Home Open Days

Here, at Next Homes, we offer FREE OPEN DAYS designed to help you take your first step onto the property ladder. The events will provide helpful information for anyone new to the property market.

Home Report

Home Report

A Home Report, contains three key documents providing prospective buyers with details on the condition of the house. This will allow buyers to make better informed decisions on whether to make an offer on the property.

Help To Buy Scotland

Help to Buy Scotland

The Help to Buy Scotland scheme is designed to help buyers purchase a new build property that they otherwise wouldn’t be able to afford.

Next Home (Scotland) Limited undertakes credit broking and is not a lender.