Scottish First Home Fund 2026 launches for first time buyers 

https://www.mygov.scot/first-homes-fund

You can get up to £10,000 to help you buy your first home through the First Homes Fund. The money comes from the Scottish Government which means they'll own a share of your home.

For example, if you buy a property for £100,000 and get £10,000 from the First Homes Fund, the Scottish Government will own 10% of it.

You'll still own the property and have complete title and deeds to your home. However, you'll need to have a mortgage on the property to make sure the Scottish Government's share is protected.

Your responsibilities

Even though the Scottish Government will own a share of your home, you'll still be responsible for paying your:

• mortgage
• buildings insurance
• home contents insurance
• repairs and maintenance
• Council Tax
• heating, lighting and water bills
• fittings and furniture

Before you apply for the First Homes Fund

You should speak to an indefpendent financial adviser or mortgage broker to help you decide if the First Homes Fund is right for you. 

If you would like to speak to a recommended Move On adviser, please get in touch!

An IFA or mortgage adviser can apply to the First Homes Fund on your behalf.

What the fund can be used for

The First Homes Fund is open to all first-time buyers in Scotland. There are no restrictions on the:

• age of the property
• location of the property

You can use the fund to purchase a property with a home report value of up to £300,000.

There is a limit of one application per property. You can make a joint application but only one award of up to £10,000 can be made.

If you're buying with someone else, at least one of you must be a first-time buyer.  If one of you currently owns a property, you must have sold it before your purchase completes. 

You must have a mortgage that covers at least 25% of the purchase price of your property. The mortgage needs to be capital repayment and not interest-only.

You may also need a deposit, usually around 5% of the purchase price.

Mortgage lenders

The mortgage lenders currently offering mortgages through the First Homes Fund are:

• Bank of Scotland
• Glasgow Credit Union
• Halifax
• Leeds Building Society
• Lloyds Bank
• NatWest
• Scottish Building Society

What the fund cannot be used for

The fund cannot be used for buy-to-let properties. It must be the sole residence of all applicants.

The First Homes Fund cannot be used together with any other schemes which help you buy a home. You can use a Help to Buy ISA or Lifetime ISA to help with your deposit.

When to apply

You need to have had an offer accepted on a property before you can apply for the First Homes Fund. This can be a verbal agreement – you do not need written confirmation of your offer being accepted.

You cannot apply if you've 'concluded missives' and agreed a moving-in date for your home.

APPLY HERE :

https://www.mygov.scot/first-homes-fund/apply