What is the Homeowners: First Home Fund?
29 January 2020

First Home Fund

The First Home Fund is a £150 million shared equity pilot scheme to provide first-time buyers with up to £25,000 to help them buy a property that meets their needs and is located in the area where they want to live.

It is open to all first-time buyers in Scotland and can be used to help buy both new build and existing properties.

The funding provided by the scheme will help up to 6,000 first-time buyers purchase their first home. This is in addition to the more than 32,000 households that have already used the existing Scottish Government shared equity schemes since 2007.

Information for buyers

• guidance leaflet for buyers
• applicant journey flowchart
• First Home Fund overview
• after sales shared equity procedures

Applications to the scheme can be made through the Link Housing website.

The following lenders offer mortgages for the First Home Fund:

• Bank of Scotland
• Barclays
• Glasgow Credit Union
• Halifax
• Leeds Building Society
• Nationwide
• Scottish Building Society
• Scotwest Credit Union
• TSB

Information for homebuying professionals

• guidance leaflet for lenders and IFAs
• applicant journey flowchart
• administrative procedures
• First Home Fund overview
• sustainability calculator
• after sales shared equity procedures
• sample pplication form (all applications must be made through the  Link Housing website)
• award letter
• standing instructions to solicitors

SHARED FROM THE SCOTTISH GOVERNMENT WEBSITE

https://www.gov.scot/policies/homeowners/first-home-fund/

Conveyancing|First Time Buyer