01478 612899

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First Home Fund

What is the First Home Fund?

The First Home Fund is a new scheme run by the Scottish Government. You must be a first-time buyer who does not own, or has previously owned, a property in Scotland or anywhere else in the world. Buying through a shared equity scheme means you split the cost of purchasing the property with the Scottish Government.


How does it work?

  • You fund the majority share (through a deposit and a mortgage), with the remaining share being provided by the Scottish Government.
  • The maximum contribution from the Scottish Government is £25,000 or 49% of the property valuation figure or the purchase price (whichever is lower).
  • The property must be the sole residence of all applicants. The scheme is not available for buy-to-let properties.
  • Scottish Government will have an equity share in the property; you will own the property outright.
  • There are no monthly payments to be made towards the Scottish Government and no interest will be charged.
  • When you sell your home, you will normally repay the Scottish Government’s percentage equity share. However you can choose to increase your equity share or pay this off earlier.


Please note that the calculation is approximate and may vary.

What do I need to apply?

  • You require to provide a minimum mortgage deposit of 5% (subject to individual lender requirements).
  • Your mortgage must be at least 25% of the purchase price of the property.
  • You need to be a first-time buyer.


To arrange a viewing get in touch with Susan from our Sales Team call us on 01478 612899 or email sales@ruralhouse.net.


Compare our house types or select:

RDS3 Semi detached three bedroom house

RD3 Detached three bedroom house

RD5 Detached five bedroom house


Click here for more information about the scheme.