First Home Fund pilot success
The First Home Fund ("FHF") is expected to have supported 8,000 households by April 2021.
The FHF offers first-time buyers in Scotland an interest free loan of up to £25,000 for their deposit. The FHF was launhed in December 2019. First-time buyers completing purchases this financial year have until 6pm on 2nd October 2020 to apply for their FHF Award.
The pilot of the FHF has been a huge success and most of our first-time buyer clients have utilised the scheme. We are glad to hear that the Scottish Government intend to reopen the applications again early 2021 for home purchaes due to complete during the 2021/22 financial year.
There are still the options of the LIFT Scheme and the Help to Buy (Scotland) Scheme available to buyers after the deadline of 2 October passes.
If any clients would like guidance regarding the FHF or to be passed onto a financial advisor to discuss their options with regard to finance please get in touch.
More info - https://www.gov.scot/news/first-home-fund-pilot-success/