There is exciting news for first-time buyers in Scotland.
The Scottish Government has announced that the First Home Fund Scotland scheme has returned and will reopen for applications by the end of June 2026, providing valuable support for people looking to buy their first home. For many buyers, saving a deposit remains one of the biggest barriers to home ownership, and the return of the scheme is expected to create new opportunities for aspiring homeowners across the country.
At Delaney Graham Solicitors, we understand how important schemes like the First Homes Fund can be. When the original scheme launched in 2019, we acted for a large number of clients purchasing their first homes using the fund. Our team gained extensive experience in helping buyers successfully navigate the process, making us well placed to assist clients when the scheme returns.
What is the First Home Fund Scotland?
The First Home Fund Scotland is a shared equity scheme designed to help first-time buyers purchase a property with financial support from the Scottish Government.
Under the scheme, eligible buyers receive a contribution towards the purchase price of their first home. This support can make it easier to secure a mortgage and reduce the amount of deposit required.
The scheme is expected to be available for both new-build properties and existing homes, helping a wide range of buyers across Scotland.
Unlike a traditional loan:
- There are no monthly repayments to the Scottish Government.
- No interest is charged on the contribution.
- The Scottish Government takes an equity % share in the property.
- The equity share is generally repaid when the property is sold and you will pay back the percentage stake to the Scottish Ministers.
The return of the First Home Fund is expected to be particularly welcome news for buyers facing affordability challenges in today’s property market.
How Can the First Home Fund Help First-Time Buyers?
Many people searching for advice on buying your first home in Scotland face similar challenges:
- Saving for a deposit.
- Meeting mortgage affordability requirements.
- Keeping up with rising property prices.
- Competing with other buyers in a busy market.
The First Home Fund Scotland is designed to address some of these challenges by providing additional financial support at the point of purchase.
For eligible buyers, the scheme may help:
- Get onto the property ladder sooner.
- Increase the range of properties they can consider.
- Improve affordability when purchasing a home.
Make the process of buying a first home more achievable
Practical Tips for First-Time Buyers in Scotland
If you are considering applying for the First Homes Fund, preparation is key.
- Check Your Mortgage Options Early
Before beginning your property search, speak with a mortgage adviser to understand how much you may be able to borrow. This will help you set a realistic budget and identify suitable properties.
- Organise Your Paperwork
Lenders and scheme administrators often require documents such as:
- Payslips
- Bank statements
- Proof of savings
- Identification documents
Having everything ready can help speed up the process.
- Review Your Credit History
Your credit record can have an impact on mortgage applications. Checking your credit report early gives you an opportunity to address any issues before applying.
- Research Property Prices
Understanding local property prices can help you identify areas that fit within the scheme requirements and your overall budget.
- Choose an Experienced Conveyancing Solicitor
One of the most important decisions you will make when buying a house in Scotland is choosing the right solicitor.
An experienced conveyancing solicitor, with experience of shared equity transactions, can guide you through the legal process, liaise with lenders and scheme administrators, and help ensure your purchase proceeds smoothly.
Why Choose Delaney Graham Solicitors for a First Home Fund Purchase?
If you are planning to use the First Home Fund Scotland, it is important to work with a solicitor who understands the scheme and its requirements.
At Delaney Graham Solicitors, we were involved in a significant number of First Home Fund transactions when the scheme was originally introduced in 2020. We helped first-time buyers throughout Scotland successfully complete their purchases and understand the shared equity arrangements involved.
When you instruct Delaney Graham Solicitors, you benefit from:
- Extensive experience with First Home Fund and shared equity purchases.
- A dedicated team focused on residential conveyancing in Scotland.
- Practical advice and information about the scheme.
- Clear communication throughout your property transaction.
- Support tailored specifically to first-time buyers.
We understand that purchasing your first home can feel overwhelming. Our goal is to make the process straightforward, stress-free and easy to understand from start to finish.
What happens when I sell my home?
It is also important that advice is given on the impact of the shared equity loan when the property is sold or refinanced at a later date. There is a common misconception that it is the amount received that will be paid back but it is calculated in accordance with the percentage of equity that the Scottish Ministers take in the property. Therefore, this could increase over time as the property increases in value.
There will also be additional administrative and legal costs incurred.
Chosen Conveyancing Solicitors for First-Time Buyers in Scotland
Whether you are purchasing a new-build property, buying an existing home, or applying for support through the First Home Fund Scotland, our experienced conveyancing team is here to help.
We have supported hundreds of buyers through their property journeys and have first-hand experience of helping clients use government-backed home-buying schemes.
With the reopening of the First Homes Fund expected to generate significant demand, now is the ideal time to start preparing.
Contact Delaney Graham Solicitors Today
If you are a first-time buyer in Scotland and would like advice about the First Home Fund, shared equity schemes, or the process of buying your first home in Scotland, contact Delaney Graham Solicitors today on 0141 483 4450.
Our experienced conveyancing team is ready to help you take the next step towards home ownership with confidence.
