First Homes Fund: how to apply

Eligibility

Who can apply

You can apply if you: 

• have never owned a home anywhere in the world, either on your own or jointly with someone else 
• are taking out a capital repayment mortgage of at least 25% of the buying price (or valuation, whichever is the lower)
• are buying the property as your main and only home in Scotland 

If you are buying with someone else, at least one of you must be a first-time buyer.  If one of you currently owns a property, you must have sold it before your purchase completes. Joint applications receive one award of £10,000.

You can use a Help to Buy ISA or Lifetime ISA towards your deposit.

Who cannot apply

You cannot apply if you: 

• are buying with cash 
• have owned a home anywhere in the world before, either on your own or jointly 
• are buying a property to rent out 
• have an open application to another Scottish Government shared equity scheme - you must withdraw it before applying 
• are using part exchange (you can use builder incentives and assisted purchase) 

Your responsibilities

You are responsible for all maintenance, insurance, repairs, and running costs. If your property is a flat, you may have shared maintenance charges or factor fees. Your solicitor will tell you about these before you buy. 

The property must meet the Tolerable Standard, the basic legal housing condition in Scotland. Check the Home Report before you buy – you will need to pay for any repairs it flags.