First Home Fund applicant statistics: FOI release

Information requested

1. How many applications have been received since March 2020?

2. How many of these applications have been successful in obtaining funding?

3. Have any of the above applications been from applicants who have been property owners?

4. Do any of the above applications have home reports out with the 3 month home report validity period and if so, how many?

5. What is the average process time for applications from receipt to release of funds?

Response

1. There have been 9,560 applications to the First Home Fund since 1 March 2020.

2. 9,178 First Home Fund applications have been approved since 1 March 2020. This is irrespective of current status - some applications are withdrawn by the applicant after approval.

3. 428 of approved applications and 457 of total applications have been from a household where one of the applicants was a property owner, since 1 March 2020.

4. The First Home Fund administering agent, Link Homes, does not record number of applications where the Home Report exceeds 3 months old. Applications with a Home Report over 6 months old can be approved subject to a refreshed valuation, within either the mortgage valuation or a refreshed Home Report, by the time the Solicitor's Confirmation Letter is submitted.

5. Of all cases that have settled since 1 March 2020, the average time from application receipt to release of funds was 50.2 working days or 68.83 total days. Funds are normally released the day before settlement.

About FOI

The Scottish Government is committed to publishing all information released in response to Freedom of Information requests. View all FOI responses at http://www.gov.scot/foi-responses.