First Homes Fund Scotland relaunched with up to £10,000 deposit support for first-time buyers

The Scottish Government has announced the relaunch of the First Homes Fund Scotland, offering eligible first-time buyers up to £10,000 towards a deposit when buying a home.

Set to open by the end of June, the shared-equity scheme will be available to eligible first-time buyers purchasing a property worth up to £300,000, helping more people take their first step onto the property ladder.

According to the Scottish Government, the First Homes Fund is expected to support thousands of households, with early phases targeting around 2,000 buyers within the first 100 days of launch. Longer-term ambitions include supporting up to 50,000 first-time buyers over the course of the current Parliament.

For many aspiring homeowners, particularly those renting privately, the ability to access up to £10,000 towards a deposit could make a meaningful difference to how quickly they can secure a home.

As with all government schemes, buyers are encouraged to check the full eligibility criteria and speak to a mortgage adviser or financial expert to understand how the First Homes Fund could support their individual circumstances.

More details on how to apply will be released when the scheme officially opens at the end of June.