First Home Fund
First time buyers may be aware of the Scottish Government Scheme known as the First Home Fund which has been extremely successful in assisting many first time buyers to get a foot onto the property ladder. The Scottish Government have now stated that the scheme has been particularly popular following the reopening of the housing market following the temporary suspension due to the Covid-19 pandemic on 29th June this year and this is against the backdrop of reduced availability of higher loan to value mortgages as a result of the Covid-19 pandemic. Due to the high number of recent applications, the scheme is almost fully subscribed for 2020-21 and as a result the Scottish Government have advised that they will shortly stop accepting new applications.
If you were considering applying, you may wish to do this sooner rather than later, and you can apply via this link: https://linkhousing.org.uk/firsthomefund
. Should you be successful in securing First Home Funding through the Scottish Government, please get in touch with a member of our experienced property team, and we will be happy to guide you through the buying process.