The First Home Scheme has been extended until 2027 and granted an additional €30 million in funding.
Launched in July 2022, the First Home Scheme is a shared equity initiative aimed at bridging the gap between a buyer’s mortgage, deposit, and the cost of their new home.
It has proven especially effective for first-time buyers and self-builders who meet specific eligibility criteria and have mortgage approval from participating lenders.
Under the scheme, the Government and participating banks pay up to 30% of the cost of the home in exchange for a stake in it, which can later be bought back by the home buyer.
Currently, the scheme is only available to first-time buyers who are purchasing a newly built property or building their own.
Following the extension, the scheme will be in operation for another two years until June 1st 2027.
Commenting on the extension, Housing Minister James Browne said: “For many, this scheme has been essential in turning homeownership from a hope into a reality. Over 6,700 people have already secured funding, and this additional investment ensures many more can follow.
“The scheme continues to see growing interest, with over 15,300 registered since launch. In Q1 2025 alone, applications increased by 49% and approvals by 51% compared to Q4 2024.
“The €30 million boost announced today brings the total State investment to €370 million, matched by participating banks for a combined funding pool of €740 million.
“This ensures the scheme is well-resourced to continue supporting eligible homebuyers for at least another two years.”
You can find out more about and check your eligibility for the First Home Scheme on MyHome’s Buyers’ Advice Hub here.
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