First Homes Fund - Boost your deposit and get on the property ladder
Saving for a deposit is one of the biggest hurdles for many first-time buyers. That's why the Scottish Government's First Homes Fund has been introduced to help make buying your first home more achievable.
If you're eligible, you could receive an equity contribution of up to £10,000 towards your deposit, helping reduce the upfront cost of buying your first home.
Who is eligible?
You're a first-time buyer. (If you're buying with someone else, only one of you needs to be a first-time buyer.)
You're purchasing your home with a valid mortgage.
The property will be your only or main home.
Even more support with St. Modwen Homes
When you buy a new home with us, you could make your deposit go even further.
Alongside the Government's First Homes Fund, we could also contribute up to 5% towards your deposit*, giving you even more support when buying your first home.
Why it could make a difference
Boost your deposit by combining up to £10,000 from the First Homes Fund with up to 5% towards your deposit* from St. Modwen Homes.
No monthly repayments to the Scottish Government, with no interest charged on its equity contribution.
Shared equity, not a traditional loan, with the Government's contribution typically repaid when you sell your home.
Designed to help first time buyers, making it easier to overcome one of the biggest barriers to home ownership. You may also be able to use savings from a Help to Buy ISA or Lifetime ISA towards your deposit.
Register your interest today
If you’re thinking about buying your first home, now is the ideal time to get prepared.
By registering your interest with St. Modwen Homes, you could benefit from a free consultation with an independent mortgage advisor to get you started. It’s one of the little ways we try to help.
Calculate your Stamp Duty
Use the St. Modwen Homes calculator to work out how much Stamp Duty/LBTT you'll pay.
Mortgage Calculator
Our easy-to-use, free online mortgage calculator is perfect for anyone who is interested to find out how much their monthly mortgage repayments might be. It should help you to work out your options when it comes to buying a new home, giving you an idea of what you can realistically afford.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT.
For further information and terms and conditions of the First Homes Fund please visit the Scottish Government website at www.gov.scot/policies/homeowners/first-homes-fund/
Offer is open to UK residents, aged 18+ and is available when reserving selected homes. Please contact our development sales centres for further information on homes included in the offer.
The offer is subject to lender's approval and successful completion. The purchaser must disclose their intention to claim this incentive to our Development Sales Manager prior to entering into a reservation agreement with St. Modwen Homes and paying the reservation fee in relation to a qualifying home. The purchaser must pay the standard reservation charge and exchange deposit on the selected home and complete the purchase.
St. Modwen Homes will pay up to 5% of the purchase price of a qualifying home. The purchase price used to calculate this payment is the price agreed at the point of reservation and is exclusive of stamp duty, costs and fees. The payment will be awarded as a deduction from funds due on completion.
St. Modwen Homes reserves the right to suspend, cancel or amend this offer.
This offer cannot be used in conjunction with any other discounts, promotions or offers and cannot be redeemed retrospectively.
No cash or other alternative.
The incentive and these terms (including any non-contractual disputes or claims arising out of them) are subject to English law. Any disputes must be referred to the English courts. Purchasers in Scotland and Northern Ireland may additionally bring an action in their home courts.