How it works
Through the First Home Fund, you could get up to £25,000 towards the costs of buying your first home. This money comes from the Scottish Government.
This means the Scottish Government would own a share in your property.
You will still own the property and have 'complete title' and deeds to your home. However, there will be a mortgage (or 'standard security') on the property to make sure the government's share is protected.
If you decide to sell the property, the Scottish Government will receive a share of the money.
If you get support from the First Home Fund you still own your home. This means you will need to pay for your:
- buildings insurance
- home contents insurance
- repairs and maintenance
- Council Tax
- heating, lighting and water bills
- fittings and furniture