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First Home Fund Scotland Calculator
First Home Fund Scotland Calculator. We are delighted to support the scottish government’s new first home fund scheme. By using our mortgage calculators, we can help you understand key things like how much you can borrow.

First time buyer (scotland) dip 13/02/2020 ~ offer accepted 02/03/2020 ~ full application 19/3/2020 ~ valuation booked 19/03/2020 ~ mortgage offer issued 20/03/2020 ~ completed 15/05/2020. The new fund will offer first time buyers up to £25,000 towards the purchase of their first property, until march 31st 2021. However, the equity share will be calculated based on the property valuation, or the purchase price if lower.
The Scheme Is Open To First Time Buyers, Who Are Those Who Have Not Previously Held Title To A Property.
Here's some examples of how the first home fund scheme could work: This scheme is available for first time buyers buying an existing or new build property in scotland. The scottish government launched a new shared equity scheme called first home fund on 18 december 2019.
The First Home Fund Is A New Scottish Government Scheme To Help First Time Buyers Take Their First Step Onto The Housing Ladder.
The grant is in exchange for a share of the equity in the property. Due to high application levels, the first home fund closed to new applications on friday 2 october 2020. Based on a £250,000 purchase price.
This Takes The First Home Fund Pot From £150 Million To.
There are no caps on the value of the property that can be purchased through the scheme. 10% scottish government equity share £25,000. Up to £25,000 is available to all first time buyers towards the purchase.
Most Lenders Are Now Looking For Buyers To Put Down A Minimum 10% Deposit, Scuppering The Plans Of Many First Time Buyers Dreaming Of Moving Home Sooner Rather Than Later.
This scheme covers second hand properties and new builds too. An evaluation of the first home fund has been published: Scottish government first home fund.
Based On A £100,000 Purchase Price.
The scheme provides funding assistance up to a maximum of £25,000 or 49% of the property’s value, whichever is lower. The first home fund is a shared equity scheme which allows first time buyers to purchase their new home with assistance from the scottish government. Calling all scottish first time buyers.
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