20 December 2019
So excited to announce the launch of First Home Fund
The First Home Fund is a newly created, £150 million shared equity pilot scheme that will 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.
Thanks to a new government scheme, first-time buyers in Scotland will now find it easier to buy their first home.
The First Home Fund, launched this week, offers buyers the chance to receive a government loan of up to £25,000 towards their first property, as long as they’re able to contribute a 5% deposit themselves. Unlike HTB, it is available on all properties and not just new build 🏡 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.
At The Glasgow Mortgage Company, we have access to all the lenders who are taking part in this new scheme so if you're thinking about buying your first home, get in touch and we can advise you all the way.🏡🏡