Buy with 5% deposit

First Home Fund

The First Home Fund is fully allocated for 2021-22 and applications are now closed.

Discover First Home Fund in Scotland

Exclusively available in Scotland, the First Home Fund* means you may only need a 5% deposit to buy your first home, helping more first time buyers make their first home purchase. The scheme is now open for applications in 2021 until the end of March 2022.

*subject to lenders’ criteria

Moving before March 2022?

The First Home Fund is available now until March 2022. If you are looking to move in 2021 or early next year, you can reserve a new home now, subject to your application being approved.

Exclusively available to first time buyers

To qualify you'll need to be a first time buyer who, does not own, or has not previously owned, a property in Scotland or anywhere else in the world. If you're applying for a joint mortgage, only one applicant needs to be a first time buyer to qualify for the scheme.

Here's how First Home Fund equity stake works

The Scottish Government will contribute a maximum of 49% equity stake based on the property valuation or purchase price, up to a maximum of £25,000, whichever is lower.

The remaining stake is made up through a deposit contribution and mortgage from a bank or building society. The Scottish Government equity stake is repayable when you sell your home.