Enhanced Help to Buy & First Home Scheme

Up to €30,000 available for qualifying first time buyers

How to qualify for the Help to Buy (HTB) incentive:

·        You must be a first-time buyer

·        You have to live in the property as your main home for five years after you buy or build it

·        You must be tax compliant, if you are self-assessed you must also have tax clearance.

·        The property value must be €500,000 or less.

You must take out your mortgage on the property with a qualifying lender. This loan must be used only for buying or building the property. The loan must be at least 70% of the purchase value of the property. This is known as the loan to value ratio.

Please visit the Irish Revenue Website for further information and full Terms and Conditions.

the first home shared equity scheme (FHS):

The Government  in partnership with Participating Lenders, has introduced a new Shared Equity Scheme to help bridge the gap between your deposit and mortgage, and the price of your new home. The Scheme provides homebuyers with what is known as an equity facility. This means that homebuyers will enter into a contract with the FHS and receive funds from the Scheme in return for the FHS taking a percentage ownership in the property purchased. The FHS can fund up to 20% of the purchase price of a new property if the Help to Buy Scheme (HTB) is being used, or 30% if the HTB is not being used.

To be eligible for the First Home scheme you must:

  • be over 18 years of age
  • buying a home within the price ceiling in the specific area/county (details available on the First Home website)
  • be a first-time buyer or other eligible homebuyer
  • have Mortgage Approval with a Participating Lender
  • borrow the maximum amount available to you from one of the Participating Lenders (up to 3.5 times your income*)
  • not be availing of a Macro Prudential Exception (MPE) with a Participating Lender
  • have a minimum deposit of 10% of the property purchase price

Please visit the firsthomesscheme.ie for further information and  full Terms and Conditions.