The Scottish Government has launched the First Homes Fund, a new shared equity scheme to help first-time buyers purchase a home in Scotland. The fund provides an equity contribution of up to £10,000 towards properties valued up to £300,000, supporting both new-build and existing homes.
What you need to know:
• Open to first-time buyers purchasing in Scotland.
• For joint applications, only one purchaser needs to be a first-time buyer, provided neither applicant owns another property at completion.
• Up to £10,000 available through a shared equity contribution.
• Available on properties up to £300,000.
• Buyers must take out a repayment mortgage covering at least 25% of the purchase price.
• Applications must be submitted after an offer is accepted or a new-build plot is reserved, but before missives are concluded.
• The property must be the buyer’s sole residence.
• Help to Buy ISA and Lifetime ISA savings can be used towards the deposit
Enquire about your first home with our team today!