The Scottish Government has opened the First Homes Fund, a shared-equity scheme providing first-time buyers with a £10,000 deposit contribution towards properties valued at up to £300,000. The £500 million scheme aims to support approximately 50,000 households over the current Parliament. The Scottish Government will hold an equity share in participating properties by way of a security, with no monthly payments or interest charged. The share is repayable upon sale or upon a triggering payment event per the terms of the shared equity agreement. Five lenders have signed up to the scheme, including Leeds Building Society, Scottish Building Society, Glasgow Credit Union, NatWest and Lloyds Banking Group, with more expected to follow.