Here are the numbers!


10 THINGS ABOUT THE FIRST HOME FUND

10


Here is a worked example of a purchase using the FHF. The government share ends up being 17.86% with client and bank contribution being 82.14%. Customer is a FTB and currently rents a flat in Glasgow but wants to purchase their own home. Customer has a gross salary is £32,000 and has been advised by their mortgage adviser that the maximum mortgage available is £144,000. An offer has been accepted on a property with a value of £140,000 and submits an application for support through the First Home Fund. The lender requires a 5% deposit contribution and they have decided to accept the full £25,000 contribution from the Scottish Government

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. BRICKS AND MORTAR MORTGAGES LIMITED IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.