James O'Connor
Question:109. Deputy James O'Connor 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. [35876/25]
View answerTuesday, 1 July 2025
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The First Home Scheme, which launched in July 2022, is a shared equity scheme designed to help bridge the gap between a purchaser’s deposit and mortgage, and the price of their new home, for eligible first-time buyers, Fresh Start applicants and those who wish to build their first home.
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.
The overall funding commitment for the First Home Scheme is €740 million. This committed funding comprises €370 million from my Department, and €370 million collectively from the 3 participating mortgage lenders, i.e. a 50:50 division of funding, which extends the scheme out to June 2027. This extension is line with the Programme for Government commitment to extend the First Home Scheme out to 2030.