• Privacy Policy
  • Editorial Policy
  • Advertise with us
  • Contact us
Saturday, October 10, 2026
Glasgow Report
  • Home
  • World
  • News
  • Politics
  • Business
  • Sports
  • Technology
  • Entertainment
  • Health
  • Lifestyle
  • Science
  • Travel
No Result
View All Result
Glasgow Report
No Result
View All Result

Scots first-time home buyers offered £10,000 interest free loan

by Glasgow Report
in Real Estate


First-time buyers across Scotland will be able to apply for a £10,000 deposit boost under a new Scottish Government scheme set to launch by the end of June.

The First Homes Fund will offer a shared-equity arrangement to anyone taking their first step on to the property ladder, covering both new-build and existing properties up to a value of £300,000.

Cabinet Secretary for Social Justice and Housing Shirley-Anne Somerville announced the scheme’s opening date to the Scottish Parliament, saying that ministers were taking “decisive action” to help first-time buyers.

Opposition parties warned, however, that the scheme would largely benefit wealthier buyers and inflate house prices.

The Scottish Government declared a national housing emergency in May 2024 and house prices have rise roughly 250% since the mid-1990s © Photo by Tierra Mallorca on Unsplash
The Scottish Government declared a national housing emergency in May 2024 and house prices have rise roughly 250% since the mid-1990s © Photo by Tierra Mallorca on Unsplash

The Scottish Government expects the initial phase to support 2,000 households within the first 100 days of the administration, with a target of 50,000 first-time buyers helped over the course of the parliament.

Announcing the commencement of the scheme to parliament, Ms Somerville said: “For too many people across Scotland, particularly younger people and first-time buyers, home ownership has felt increasingly out of reach.

“In communities the length and breadth of our nation, we are hearing the same story; people saving what they can but finding that the cost of a deposit is simply too great a barrier.

“That is the context in which this Government will act. This is a direct response to the experience of people across Scotland. We have listened and are taking fast, decisive action.

“The Fund sits within a broader programme of action and supported by a record £4.9 billion investment in affordable housing over the next four years.

“We promised we would support first time buyers and we are delivering.”

A report from the Institute of Fiscal Studies last month noted that a similar government Help to Buy scheme primarily benefited higher earners.

These findings were noted by both the Scottish Tories and Scottish Greens, who warned that the scheme could make houses “less not more affordable”.

Labour warned that the initiative could further drive property prices up.

Shirley-Anne Somerville is the Scottish Government’s new Housing and Social Justice Minister © Scottish Government

Under the scheme, the government takes an equity stake in the property in proportion to its contribution, but buyers hold full title and face no monthly repayments or interest charges. The government’s share is typically repaid when the property is sold.

The fund forms part of a wider housing package backed by what ministers describe as a record £4.9 billion investment in affordable housing over the next four years.

Further details on how to apply are expected to be published ahead of the June opening.


Ross Chalmers is a journalist focusing on local Edinburgh news, transport, the environment, the arts, and housing.

He graduated from Edinburgh Napier University with a degree in journalism in Summer 2025 and began working at Deadline News as a reporter in August.

Related



Source link

Previous Post

New book aims to help business owners live the dream

Next Post

Arctic hits chemical ‘tipping point’ as ice loss wipes out key food chain nutrient

Related Posts

Court fight launched over major Edinburgh development

Court fight launched over major Edinburgh development

by Glasgow Report
September 24, 2026
0

A COURT of Session challenge has been launched against Scottish Ministers’ decision to approve a controversial 544-bed visitor accommodation development...

Office refurbishment development nears completion in the capital

Office refurbishment development nears completion in the capital

by Glasgow Report
September 17, 2026
0

Written by Raheemat Olabode NEARLY 20,000 sq ft of office space is set to become available in Edinburgh city centre as...

Scots property market holds steady despite economic uncertainty

Scots property market holds steady despite economic uncertainty

by Glasgow Report
September 10, 2026
0

SCOTTISH property markets across Edinburgh, the Lothians, Fife and the Borders have remained steady over the summer despite economic uncertainty....

Next Post
Arctic hits chemical 'tipping point' as ice loss wipes out key food chain nutrient

Arctic hits chemical 'tipping point' as ice loss wipes out key food chain nutrient

  • Trending
  • Comments
  • Latest

Hindenburg Report on Adani Places Mr. Modi in Dilemma

February 10, 2023
Pandora’s Cube: A Mysterious Sum and a Sum of Mysteries

Pandora’s Cube: A Mysterious Sum and a Sum of Mysteries

May 19, 2023
A Brief on Kant’s Knowledge and Duty Reflections for “Glasgow Report”

A Brief on Kant’s Knowledge and Duty: Reflections for “Glasgow Report”

July 19, 2023
Dashcam footage shows impatient motorist yelling at driver in car park

Dashcam footage shows impatient motorist yelling at driver in car park

0
Social media users horrified by video of midges swarming hillwalker

Social media users horrified by video of midges swarming hillwalker

0
Scot horrified after finding poo-covered toilet brush in holiday apartment

Scot horrified after finding poo-covered toilet brush in holiday apartment

0

Mildred Meets Rasta Explores Friendship, Race and Belonging Across Generations

October 9, 2026

TGI Fridays™ Signs Progress Agreement to Fuel Pakistan Growth

October 6, 2026

Shaoxing Cultural Tourism’s 3rd Overseas Culture Week Invites Global Travelers to “Become Chinese in Shaoxing”

September 29, 2026
Glasgow Report

Copyright © 2021 Glasgow Report.

Navigate Site

  • About
  • Advertise/Contribute
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Sports
  • Technology
  • Lifestyle
  • Health
  • Travel
  • Science
  • Real Estate
  • Press Release

Copyright © 2021 Glasgow Report.