By the end of this month – June 2026 – the first round of the relaunched First Homes Fund, a shared equity scheme from the Scottish Government, is set to launch.
That's a big boost for first-time buyers in Scotland who, if eligible, can receive up to £10,000 towards a deposit to buy a new home.
While there's no similar government shared equity scheme in England, we look at what the First Homes Fund Scotland scheme entails, who is eligible, and some new-build homes that meet the criteria.
The shared equity scheme will be open to prospective buyers looking to purchase their first home worth up to £300,000 with a mortgage.
Under the scheme, the Scottish Government will hold an equity share in the property, while the homeowner retains ownership and title. There are no monthly payments and no interest charges. When the property is sold, the government receives the same percentage share of the sale price as it originally contributed.
The scheme is designed to reduce the upfront financial burden on first-time buyers and help more people step onto the property ladder sooner.
The scheme is available to buyers who:
Eligible applicants can receive an interest-free equity loan of up to £10,000 towards the purchase of their first home.
We advise first-time buyers hoping to apply for the First Homes Fund to prepare early. Having a Mortgage in Principle (MIP) and identifying suitable properties beforehand can help you move quickly once applications open.
Built to the latest industry standards, new-build homes offer excellent insulation, ventilation and draught-proofing, helping to reduce energy bills.
Enjoy modern interiors and neutral décor without the need for immediate renovation or redecoration.
New kitchens, bathrooms, heating systems and freshly finished interiors mean you can simply unpack and enjoy your new home.
Here are some developments where first-time buyers can purchase a property below the £300,000 threshold and potentially benefit from the First Homes Fund.
A fantastic development for first-time buyers featuring two, three and four-bedroom energy-efficient homes located just north of Elgin town centre.
The Thurso is a spacious three-bedroom semi-detached home with an open-plan kitchen/dining area, utility room, separate lounge and an en suite main bedroom.
Situated in beautiful Perthshire countryside, this development offers a peaceful setting with convenient access to Perth, Dundee and Edinburgh.
The Bradshaw features a spacious lounge, open-plan kitchen/diner with French doors, en suite bedroom and built-in wardrobes.
Perfect for commuters and families, Honeyman Park offers excellent transport links to both Edinburgh and Glasgow.
The Balfron is a stylish two-bedroom home featuring integrated appliances, French doors to the rear garden and contemporary finishes throughout.
Explore homes under £300,000 and get ready for the launch of the First Homes Fund.
