First-time buyer schemes in Scotland: New First Homes Fund opens

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24th June 2026

Key Takeaways

The Scottish Government’s First Homes Fund opened for applications on 24 June 2026, offering eligible first-time buyers a £10,000 contribution towards their home deposit.
The scheme is available to first-time buyers purchasing either a new-build or existing property in Scotland with a mortgage, providing greater flexibility when searching for a home.
To qualify, applicants must never have owned a property anywhere in the world and must be buying a home valued at £300,000 or less.
The First Homes Fund aims to make homeownership more accessible by reducing the upfront savings required for a deposit and improving affordability for buyers.
Up to 2,000 households are expected to benefit during the scheme’s initial launch period, opening up a wide range of property options across Scotland for eligible purchasers.

First Homes Fund

There is welcome news for aspiring homeowners, as applications for the Scottish Government's First Homes Fund officially opened on 24th June 2026.

Designed to help more people take their first step onto the property ladder, the First Homes Fund offers eligible first-time buyers in Scotland a £10,000 contribution towards their home deposit. The initiative aims to make homeownership more accessible at a time when saving for a deposit remains one of the biggest challenges facing buyers.

What is the First Homes Fund?

The First Homes Fund is a shared equity scheme available to eligible first-time buyers purchasing a property in Scotland with a mortgage. The scheme can be used for both new-build homes and existing properties, giving buyers greater flexibility when searching for their first home.

For the purposes of the scheme, a first-time buyer is someone who currently does not own a property and has never owned a property anywhere in the world.

Help for first-time buyers in Scotland

As part of the Scottish Government's commitment to supporting homeownership, the First Homes Fund is available on properties valued at up to £300,000. By contributing £10,000 towards a buyer's deposit, the scheme could help reduce the amount that needs to be saved upfront and make mortgage affordability more achievable.

The Scottish Government expects up to 2,000 households to benefit from the scheme during its initial launch period, providing valuable support for individuals and families looking to purchase their first home.

Am I eligible for the First Homes Fund?

Eligibility criteria apply, and prospective buyers should check the latest guidance before applying. Visit the First Homes Fund scheme to find out if you are eligible and how to apply.

Homes for sale in Scotland under £300,000

One of the biggest advantages of the First Homes Fund is that it can be used on properties with a purchase price of up to £300,000. That opens up a wide range of opportunities across Scotland, from stylish city apartments and family homes in commuter towns to charming coastal properties and countryside retreats.

To help inspire your property search, we've selected a range of homes currently for sale in Scotland for under £300,000. Whether you're searching for your first flat in Edinburgh, a family home in Fife, or a character property elsewhere in Scotland, these homes could be within reach with the support available through Scotland's latest first-time buyer scheme.

Browse our selection of homes for sale under £300,000 below and start planning your move onto the property ladder.