Its Open Market Shared Equity (OMSE) scheme has had its budget almost doubled by the boost in funding, from £4.75m to £9.4m.

Scottish Housing Minister Keith Brown said this would help an additional 250 first-time buyers under the scheme, taking the total up to 5,850.

Brown said: “The Scottish government has already ploughed millions into a variety of shared equity schemes to help people get onto the property ladder as this will benefit not only those potential new homeowners, but will also help the Scottish housing market.”

OMSE is a part of the Low-cost Initiative for First-time Buyers (LIFT) shared equity scheme and enables buyers to own a home, but only pay for a proportion of it.

Between 60% and 80% of the property’s value can be bought by first-time buyers, with the government funding the remainder through taking an interest-free equity stake.

The buyer does not pay any charges on the equity stake, but pays the Scottish government a proportion of the sale price at the time of sale, or earlier if they wish.

Brown added: “We remain committed to continuing support to assist first-time buyers under our shared equity schemes.

“Once in the property, buyers then have the option to increase the share they own over time and eventually own the property outright.”