Can the First Home Fund help you onto the property ladder?

If you're a first time buyer, you could receive up to £25,000 from the Scottish Government to help you purchase your new home. 

To outline the cost of our two-bedroom apartment at The Green at Longstone, we've provided the illustration below. Please note all figures are correct as of 23rd July 2020. Further terms and conditions apply.

 

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Further terms and conditions: This mortgage illustration is dependent on income, individual circumstances and mortgage rates. Only applicable on Plot 9 at The Green at Longstone. All the information is correct as of 23/07/2020. These are indicative costs - rates are subject to change. All loans are subject to credit approval and can vary upon credit score and loan to value. Your home may be repossessed if you do not keep up repayments on your mortgage. For illustration purposes only.
Purchase price £210,000. 5% deposit £10,500 Maximum First Home Fund contribution £25,000. 35 year mortgage term. Mortgage amount £174,500.
The above is a fixed mortgage term with a monthly payment of £608.96. The initial interest rate is 2.34%. The initial number of months on this borrowing rate is 26 months. After this period (without remortgaging) you will go onto your lenders Standard Variable Rate (SVR), where costs are as follows: SVR monthly payment £732.68. SVR interest rate 3.59%. Number of months on this SVR rate is 394. APRC is 3.4%. May be subject to additional fees. Total amount payable over the term of the mortgage £300,961.84
  

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