Get Up To £25,000 To Purchase Your New Home Under The New Scottish Government Scheme “First Home Fund”
The ‘First Home Fund‘ is run by the Scottish Government and aims to help first-time home buyers purchase a property. Up to £25,000 is available to all first-time buyers towards the purchase of their first home.
‘First Home Fund’
Up to £25,000 is available to first-time buyers
Minimum deposit of 5% of the purchase price is required
You will own the property outright
No monthly payments to be made towards the Scottish Government
No interest will be charged by the Scottish Government
About The ‘First Home Fund’ Scheme
The First Home Fund is run by the Scottish Government and aims to help first-time home buyers purchase a property. Up to £25,000 is available to all first-time buyers towards the purchase of both new build and existing properties.
A first-time buyer is anyone who does not own, or has previously owned, a property in Scotland or anywhere else in the world.
In order to take part in the scheme, you will be required to provide a minimum deposit of 5% of the purchase price (subject to individual lender requirements) and your mortgage must be at least 25% of the purchase price.
Although the Scottish Government will have an equity share in the property, you will own the property outright. There are no monthly payments to be made towards the Scottish Government and no interest will be charged.
You will normally repay the Scottish Government’s percentage equity share when you sell your home, however you can choose to pay this off earlier (see ‘Increasing your Equity Share’ section on page 7 for more details).
We have two sites available…
This development is located in a long established residential area of Dundee. Castleview will be a select development comprising of twenty five energy efficient new build houses.
This is an exclusive development in a popular and central location (Clepington Road in Dundee). The development comprising ONLY Ten attractive detached and semi-detached villas.
Who is the ‘First Home Fund’ Scheme for?
The scheme is open to all first-time buyers in Scotland who are taking out a mortgage. You will not be able to apply to the scheme if you are a cash buyer or if you have previously owned a property in the UK or abroad at any time (as either a sole or a joint owner).
View Available Homes
At Discovery Homes, we have a passion for creating high quality homes in Dundee. Click below to view our available sites.