Dáil Éireann Debate, Wednesday - 8 October 2025
234. Deputy Barry Ward asked the Minister for Housing, Local Government and Heritage the status of the review and extension of the first homes scheme, as committed to in the Programme for Government; and if he will make a statement on the matter. [53950/25]
Amharc ar fhreagra235. Deputy Barry Ward asked the Minister for Housing, Local Government and Heritage the status of the expansion of the first homes scheme to first time buyers of second-hand homes, as committed to in the Programme for Government; and if he will make a statement on the matter. [53951/25]
Amharc ar fhreagraI propose to take Questions Nos. 234 and 235 together.
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, within regional price ceilings, 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 Programme for Government states it will work with the banks to expand the First Home scheme to first time buyers of second-hand homes and extend the scheme to 2030. In May of this year, Government approved an additional €30 million State commitment to the scheme, and to extending the scheme to June 2027, bringing the total State commitment to the scheme to €370 million, matched 50:50 by the participating banks. The total funding commitment across all participants is, therefore, €740 million.
While the Government’s clear priority is accelerating and increasing new housing supply, in relation to the expansion of the scheme to include second hand homes, I have requested the First Home Scheme to undertake the required analytical and technical work to examine the potential for such an expansion and the matter is under consideration.
