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First Home Fund

Everything you need to know.

Buy your first home with a £25,000 interest free loan.

The First Home Fund was launched by the Scottish Government to help first-time homebuyers purchase a property. The Scottish Government will provide an interest-free equity loan of up to £25,000 to all first-time buyers in Scotland towards the purchase of a new home.

How does it work?

In order to take part in the scheme, the requirements are:

  • You will provide a minimum deposit of 5% (subject to individual lender requirements)
  • Your mortgage must be at least 25% of the purchase price
  • You must be a first time buyer who does not own, or previously owned, a property in Scotland or anywhere else in world. Where joint applicants apply, only one must be first time buyer, but financial assistance will be awarded per property purchase.

Although the Scottish Government will have an equity share in the property, you will own the property outright. There are no monthly payments to be made towards the Scottish Government and no interest will be charged. You will normally repay the Scottish Government’s percentage equity share when you sell your home, however you can choose to pay this off earlier.

Please note that lenders will have their own individual requirements when providing a mortgage. The lender or a mortgage advisor will be able to fully explain these requirements to you.

The First Home Fund is available at the following Scotia Developments:






For further information and conditions relating to to the First Home Fund, see below downloads or visit the Scottish Government Website.