A new way to help make buying your first home easier.
If you’re a first-time buyer, looking for a home in Scotland, and want to move with just a 5% deposit, then First Home Fund is for you.
With up to £25,000 towards your home from the Scottish Government, it makes buying your very first place that little bit easier.
How the First Home Fund can help you buy

Let’s take a £150,000 home. With a £25,000 government contribution, you’ll only need a 5% deposit of £7,500 and a mortgage for £117,500.
The First Home Fund contribution means you need a smaller deposit, so you can stop saving and start moving sooner.
Plus, you’re borrowing less, so your monthly mortgage repayments will be lower too.
How the First Home Fund Works
So, how does First Home Fund work, and who is eligible? Here’s First Home Fund, explained.
- Backed by the Scottish Government, the First Home Fund contributes up to £25,000 towards your new home in Scotland.
- You must be a first-time buyer and the First Home Fund is only available for the home you plan to live in. If you’re buying with someone else, only one of you needs to be a first-time buyer to qualify.
- It’s not a loan, so there’s no monthly interest payments to make. The equity share is paid back if the home is sold or earlier if you choose to do so.
- The Scottish Government will have an equity share in the property, but you will own the property outright.
- You’ll need a minimum deposit of 5%. The mortgage must be at least 25% of the purchase price and on a repayment basis. This scheme is not available to cash buyers.
- The First Home Fund can be used alongside any Keepmoat Homes offers and incentives.
- You cannot apply to other Scottish Government shared equity schemes while also applying to this scheme. However you are able to use a Help to Buy: ISA or Lifetime ISA to go towards your deposit.
- There’s an admin fee of £550 to the Scottish government for successful applications, payable 3 weeks prior to completion.
- The money for the First Home Fund is from a total fund of £60m set aside by the Scottish Government and the scheme will reopen on the 1st April 2021 and run till the 31st March 2022. So, don’t miss out. Find your home today.
Have any questions? We’re here to help you though every step of your home buying journey. Our experienced and friendly Sales Executives are on hand to answer any questions you may have.