Getting the keys to your first place in Scotland just became easier. As of late June 2026, Holyrood revived a major financial lifeline for aspiring homeowners, injecting £500 million into the market to help buyers overcome the hurdle of saving for a big deposit.
Here is exactly how this £10,000 boost works, the rules you need to follow, and the steps you should take right now to beat the rush.
The Mechanics
Instead of handing you a traditional loan, the government operates this initiative as a shared-equity scheme. They contribute up to £10,000 toward your purchase, and in exchange, they hold a proportionate percentage stake in the property’s value.
The massive advantage here is that you pay zero interest on their contribution, and there are no monthly instalments tied to it. You maintain complete ownership of the home. When you eventually decide to sell the property, the government simply recoups their percentage from the final sale price.
By dramatically lowering the amount you need to borrow from a bank, this setup shrinks the size of your mortgage and makes your monthly payments more manageable.
Rollout
Because government grants of this nature are incredibly popular, officials are releasing the funds in managed waves rather than all at once.
First 100 Days
The immediate goal is to fast-track 2,000 applications through the process.
2026 - 2031
Over the current five-year parliamentary session, the target is to financially back 50,000 new homeowners.
Who’s Eligible?
You do not need a massive income to qualify, but the property and your financial setup must meet the criteria:
- First time buyer: You cannot have owned real estate previously, whether in the UK or abroad.
- The Price Cap: Your target home, whether it is a new build or an older house, cannot exceed a £300,000 Home Report valuation.
- Mortgage Nuances: Your lending agreement must be on a capital-repayment basis, interest-only deals are not permitted. Furthermore, your traditional bank mortgage needs to fund at least 25% of the home's total price.
- Co-purchases: Buying with a significant other or a friend? Only one application is permitted per address, meaning the £10,000 ceiling applies to the property, not per applicant.
What About Your Own Cash?
You will still need some personal savings to put down. The exact size of your personal deposit is based on the home's price, the specific lender's demands, and your financial footprint.
Why Advice is important
Navigating the property market as a first-time buyer is daunting. Adding government shared-equity schemes into the mix introduces an entirely new layer of complexity.
An experienced mortgage adviser will look at your complete financial picture to ensure this specific scheme aligns with your long-term financial goals, instantly match you with the banks most likely to approve your loan, and manage the bureaucratic heavy lifting on your behalf.