The Scottish Government’s popular First Home Fund will open for new applications on 1st April 2021 offering first-time buyers up to £25,000 towards a deposit for a new home. Ahead of this application window opening, Taylor Wimpey West Scotland is hosting virtual Ask the Expert events for its developments to help first-time buyers get ready to take advantage of the scheme.
From the comfort of their sofa, prospective first-time buyers can book an appointment to chat to its dedicated Independent Financial Advisors (IFAs) who can provide more information about the scheme, how it works and if they qualify before the limited fund opens for new applications.
The IFAs will also be available to provide independent financial advice whether first-time buyers want to use First Home Fund or not. To book an appointment, interested first-time buyers should email SalesTW.WestScotland@taylorwimpey.com.
For first-time buyers to take advantage of First Home Fund, they will need a minimum 5% deposit and at least a mortgage of 25%. Buyers must also be a first-time buyer who does not own, or has not previously owned, a property in Scotland or anywhere else in the world.
The First Home Fund allows buyers to own 100% of their new property but the Scottish Government will contribute a maximum of 49% equity stake based on a property’s value or purchase price, whichever is lower, and up to a maximum of £25,000. Buyers will make up the remainder of the property price through their deposit and mortgage from their financial provider.
With no limit on the property value that first-time buyers may consider purchasing, Taylor Wimpey’s developments across the west of Scotland offer an impressive choice of new homes to inspire that first step on to the property ladder.
Audrey Ross, Sales and Marketing Director for Taylor Wimpey West Scotland said: “We understand that the process of buying a new home for first-time buyers can seem daunting or perhaps complicated. With the window for applications to the new First Home Fund opening on 1 April 2021, buyers who are looking to use the scheme this year can actually reserve a new home now, subject to their application to the new fund being approved.
“Buyers should be aware this round of First Home Fund is limited, so I would urge any first-time buyers who are thinking about a move, and who would like to consider accessing it this year, to book an appointment for their chosen development to find out more so they can be in the best position to proceed when the fund opens for applications on 1 April 2021.”
The virtual Ask the Expert event will be held on Sunday 28th February 2021 from 11am-4pm.
For more information about developments across the west of Scotland visit www.taylorwimpey.co.uk/westscotland or call 0141 849 5500.