First Home Fund scheme
Last updated: 7 February 2020

After you've bought your home

The Scottish Government has prepared an After Sale Shared Equity Procedures document to help with any post-sale questions from shared equity owners.

This should provide answers to most questions you might have about what you can and cannot do after buying a property through the First Home Fund.

Increasing your equity

You can choose to increase your equity share at any time while you own the property. If you decide to increase your share, you must do this by at least 5% each time. However, if your share is above 90% you must increase it to 100%. You will need to get a home report valuation if you decide to increase your share.

If you increase your share to 100%, the Scottish Government will no longer have a share in your home and will not be due any money if you decide to sell it.

Renting out your home

Your home is expected to be your only residence. The Scottish Government does not allow the renting or subletting of homes purchased through the First Home Fund.

Selling your home

If you decide to sell your home the amount of money due to the Scottish Government will depend on a number of factors, including:

  • what price your home is sold for
  • the Scottish Government's equity share

For example, if you sell your property for £140,000 and the Scottish Government has a 20% share then they will receive £28,000. You will receive the remaining £112,000.
The Scottish Government will benefit from any increase in value that has occurred since you purchased the property.