Niamh Smyth
Question:78. Deputy Niamh Smyth asked the Minister for Housing, Local Government and Heritage the funding he is providing for the first home scheme; and if he will make a statement on the matter. [36882/24]
View answerThursday, 19 September 2024
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Written answers
The First Home Scheme, which launched in July 2022, is a shared equity scheme, designed to help bridge the gap for eligible first-time buyers, eligible homebuyers, and self-builders, between their deposit and mortgage, and the price of their new home (within price ceilings established across the country). Full details are available on the First Home Scheme website.The overall funding commitment for the First Home Scheme is €680 million. This committed funding comprises €340 million from my Department, and €340 million collectively from the participating mortgage lenders, i.e. a 50:50 division of funding.
The First Home Scheme Designated Activity Company is responsible for the operation and management of the First Home Scheme on behalf of its shareholders - the State, Allied Irish Bank, Bank of Ireland and Permanent TSB and, as such, is responsible for First Home Scheme reporting.
Quarterly and annual updates are made available on the First Home Scheme website.
My Department also publishes quarterly data on overall affordable housing provision, with the delivery figures for First Home broken down by Local Authority area available.