SNP’s flagship housing fund runs out of cash in days SNP ministers have blamed the UK Treasury for cuts to the fund SNP ministers have blamed the UK Treasury for cuts to the fund The Scottish Government’s flagship First Home Fund has run out of money in just eight days, in what opposition parties have branded a “spectacular misjudgement”. The £60m fund, which lends people up to £25,000 towards their deposit, was launched on April 1 but was closed on Thursday afternoon after being inundated with applications. The initiative is now “fully committed” for 2021/22. The news has been described as “devastating” for thousands of Scots hoping to get onto the property ladder, with the lack of availability of 95 per cent LTV mortgages making it “incredibly difficult” for first time buyers to access mortgage finance - despite “strong evidence” showing that owning a home is cheaper than renting.