The Scottish government has launched a £150m “First Home Fund” to help 6,000 people buy their first home.

According to data collected by the Scottish government, existing home ownership schemes have helped more than 32,000 households in Scotland purchase a property since 2007.

The fund will provide FTBs with up to £25,000 towards the cost of buying a property and will run until March 2021.

First Minister Nicola Sturgeon says: “For many people, getting a deposit together is often an obstacle in buying their first home. Removing barriers and supporting people to buy the home they want is at the heart of this new fund.

“Since 2007, the Scottish Government has provided more than £1.2bn in shared equity schemes, which have helped tens of thousands of people into home ownership, particularly those aged under 35 and this new scheme adds to the support we are providing.”

Homes for Scotland chief executive Nicola Barclay adds: “Home ownership remains the preferred choice of tenure for the majority of Scots. Though they can sustainably manage monthly mortgage payments, getting the deposit together remains a challenge for many.

“Initiatives such as this and Help to Buy are crucial, not only in helping people achieve their housing aspirations but also in helping to relieve pressures on the social and private rented sectors.”