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First Home Fund

First Home Fund

It's returning so don't miss out!

First Home Fund is re-opening on Thursday 1st April for applications.

If you live in Scotland and you're looking to buy your first home, the First Home Fund scheme could be just what you need.

Help to Buy Scotland
Help to Buy scheme
First Home Fund scheme example

Some fantastic news... The Scottish Government has made £60m available for first time buyers. The First Home Fund offers you an interest-free equity loan of up to £25,000 and all you need is a 5% deposit.

Want to secure your place now?

Drop us a line, and we’ll put you in touch with an independent financial advisor. You can get your applications pre-qualified and prepared, so you’re ready to go as soon as LINK Housing opens its doors.

First Home Fund highlights:

  • It's for properties bought in Scotland
  • Up to £25,000 interest-free equity loan is available
  • No restrictions on use of Charles Church's offers
  • Equity loan repayable when you sell your property, or earlier if you wish
  • No price cap on the purchase price, however check with your mortgage lender the maximum price they will accept
  • Only 5% deposit needed.

For full information and T&Cs on this scheme head to the Scottish Government's dedicated First Home Fund page.

How do I apply?

This is the easy part: just contact our friendly sales advisors at any one of our developments across Scotland and they can use their expertise and contacts to guide you every step of the way.

First Home Fund FAQs

Where is the scheme available?
First Home Fund is available across all Charles Church developments in Scotland. You'll need to check with your lender the maximum purchase price they will allow, although, under the scheme itself, there is no limit.

Can you clarify the First Home Fund equity loan element?
The Scottish Government's maximum contribution is £25,000 or 49% of the property valuation (whichever is the lower).
This loan is interest-free for the term of the loan.

What are the repayment terms of the First Home Fund equity loan?
You can repay the loan when you sell the property, or earlier if you choose.

Is First Home Fund available on pre-owned homes?
Yes. The First Home Fund scheme is available on new-build homes and second-hand properties.

Can I use the First Home Fund scheme if I already own a home?
No. The First Home Fund scheme is only available to first-time buyers. You'll need to check carefully that you satisfy these conditions.

Is the First Home Fund scheme available for buy-to-let purchases?
No. The First Home Fund scheme is only available to purchasers using the property as their main residence.

What types of mortgage are available with First Home Fund?
Repayment mortgages are the only option with this scheme.

Where can I get financial advice from?
Charles Church can put you in touch with a list of recommended independent financial advisers who can assist you every step of the way. You are of course free to choose your own financial advisor.

Where can I apply?
You can apply to the scheme by completing the online application form at Link Housing.

First Home Fund Scheme Terms & Conditions

The First Home Fund (“Scheme”) is run by the Scottish Government and is only available to first-time home buyers who purchase a property in Scotland. There are no caps on the value of the property that can be purchased through the Scheme. A minimum deposit of 5% (subject to individual lender requirements) is required, and your mortgage must be at least 25% of the purchase price. The Scottish Government contribution will be by way of an interest-free Equity Loan which cannot exceed £25,000 or 49% of the value of the property (whichever is the lower amount) and will be expressed as an equity share percentage (calculated to two decimal places). The £25,000 contribution is the maximum allowed, but an applicant can choose to take a smaller amount if they wish.

The Scottish Government’s Equity Loan will be repaid when you sell your home (based on the percentage equity share of the open market value of the property at the time of repayment), however, you can choose to pay this off earlier either in full or in part. In the case of new build properties, equity shares will always be calculated against the open market value of the property (unless the purchase price is lower than valuation in which case the equity shares will be calculated by reference to the final purchase price), which forms part of the mortgage offer or be provided in a separate valuation report given to the lender. You will be responsible for all fees and charges in respect of arranging and repaying the Equity Loan and each application subject to the terms and conditions of the mortgage lender. We strongly recommend you obtain independent financial and legal advice. Further information can be obtained from

Related scheme links: