First Home Scheme

The First Home Scheme helps to get you moving by bridging the gap between your deposit, your mortgage and the cost of your home.

It’s a shared equity scheme where the Government and participating banks fund up to 30% of your new home in return for a stake. You can buy that stake back anytime, but you don’t have to.

It’s available to first-time buyers, “fresh start” applicants, people building their first home, and tenants buying from a landlord under the Tenant Home Purchase Scheme.

To qualify, you must be over 18, live in the home as your main residence, and either buy a new-build or build your own. The property must fall within local price limits.

You’ll need a mortgage from a participating lender, where you are borrowing the maximum allowed, and you must have at least a 10% deposit.

The scheme can fund between 2.5% and 30% of the property value, less if you’re also availing of the Help to Buy scheme.

There are no charges for the first five years. After that, a service fee may apply if you haven’t bought back the equity.

Get moving with the First Home Scheme.