MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
  • Mortgages
  • Property Report
MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
    • Mortgage Learning Center
    • Calculators
    • Best Mortgage Table
  • Property Report
    • All Properties
    • Houses For Sale
    • Apartments For Sale
    • Available To View
    • Overseas Holiday Homes
      • Properties For Auction
      • Upcoming Auctions
      • BER Assessors
      • Property Conveyancing Solicitors
      • Pre-Purchase Surveyors
    • Find Agents
    • All Properties
    • Houses To Rent
    • Apartments To Rent
    • Available To View
    • Share
      • Irish Holiday Homes
      • Overseas Holiday Homes
  • New Homes
    • For Sale
    • To Rent
    • Auction
      • Residential Land
      • Commercial Land
      • Farm Land
      • Farms
      • Sites
    • MyHome Living
    • Buyer Advice Hub
    • Property Report
    • Property Price Register
    • Price Changes
  • Mortgages
    • Rental
    • Holiday Homes
    • Commercial
    • Sharing
Advertisement
  • Home
  • Finance
  • Go ahead given to 750 applications under First Home Scheme
Finance
Jan 24, 2023 - 14:31

Go ahead given to 750 applications under First Home Scheme

MyHome Content Studio
By MyHome Content Studio
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
Go ahead given to 750 applications under First Home Scheme

The go ahead has been given to 750 applications to the First Home Scheme since its launch in July last year.

The scheme was set up to help first-time buyers bridge the gap between their mortgage, deposit and the price of a new home through a joint venture between the State and three banks: AIB, BOI and Permanent TSB.

Of the applications approved, 335 contracts have been issued and 137 buyers have closed and are now living in their new homes.

A further 254 applications are being processed with approvals expected to issue shortly.

The First Home Scheme works as a shared-equity partnership.

Advertisement

Under the terms the buyer can receive funds of up to 20% of the purchase price of the property and the scheme takes a percentage ownership in return.

During an end-of-year update on the scheme, Minister for Housing Darragh O'Brien said it has "built up strong momentum", adding he is confident there will be significant take up this year.

The First Home Scheme is making €400 million available to facilitate the purchase of 8,000 homes over a five-year period.

More than a quarter (27%) of the applications to date have come from Kildare (202), followed by Dublin (26%; 194) and Cork (15%; 112)

There have been no applications from Roscommon, Leitrim or Longford.

Advertisement

Eligibility for the scheme has been extended this month following a review last year.

The limit for eligible homes was extended by up to €75,000.

The new price ceilings include houses valued up to €475,000 and apartments worth €500,000 depending on location.

The average price for completed purchases is €370,000 and the average support provided is €71,000 or 19% of the purchase price.

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

  • Tags
  • First Home Scheme
MyHome Content Studio
By MyHome Content Studio
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Helpful Links

Find your home on MyHome
Read more Articles
Calculate what you can afford to borrow
Welcome to the Retrofit Hub
Advertisement
Advertisement

Related News

Less than a third of mortgage holders have considered switching in the past year
MyHome Living

Less than a third of mortgage holders have considered switching in the past year

Oct 21, 2024
Decline in number of mortgages approved in May
MyHome Living

Decline in number of mortgages approved in May

Jun 28, 2024
Mortgage rates in Ireland fell slightly in April
Finance

Mortgage rates in Ireland fell slightly in April

Jun 12, 2024
European Central Bank cuts interest rates by 0.25%
Finance

European Central Bank cuts interest rates by 0.25%

Jun 06, 2024
Local authority home loan set for expansion
MyHome Living

Local authority home loan set for expansion

Jun 05, 2024
Frequent And Popular Searches
MyHome.ie Blog
Help
Jobs
About
Equality Guidelines
Brand Safety
Contact
Terms & Conditions
Cookie Policy
Privacy Policy
Digital Services Act
Sitemap
© Copyright MyHome.ie 2025
Advertisement