The First Home Fund in Scotland relaunched at the end of June. While it doesn’t have a hard-set public closing date, its initial phase is designed to support roughly 2,000 households (or up to £500 million allocated across the current parliamentary term), meaning it will remain open until this allocated funding is exhausted.
This scheme has historically been incredibly popular, offering valuable support to help buyers take that first step onto the property ladder.
This time around, the maximum level of assistance has been reduced to £10,000, but it still represents a meaningful boost for those struggling to bridge the gap to homeownership.
“This is very good news for first-time buyers who may be finding it more difficult than ever to buy their first home,” says VMH Director Stacey Wilson.
“The offering is slightly less than we have seen before but, as we know, these schemes are incredibly popular and I am sure many first-time buyers will benefit from the relaunch of the First Home Fund.”
If you’re thinking about buying your first home, it’s definitely worth keeping this on your radar – check out the details at Mygov.scot First Homes Fund and contact us at VMH for all your Edinburgh property buying and selling queries.