Over 500 first-time buyers approved for financial supports under First Home Scheme

Over 500 First-Time Buyers Approved For Financial Supports Under First Home Scheme
Approved applicants receive an 'eligibility certificate' which helps first-time buyers in securing a loan for the purchase of their home. Photo: PA Images
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A total of 508 first-time home buyers have been approved for financial support under the First Home Scheme, part of the Government's Housing For All programme.

Successful applicants receive an 'eligibility certificate', which helps first-time buyers in securing a loan for the purchase of property.


The average house price in approved applications was €359,000, with first-time buyers receiving an average of €79,000 in supports through the scheme.

Two thirds (66 per cent) of approvals were granted to buyers in Dublin, Kildare, Meath or Wicklow. A further 203 applications are still being processed.

The scheme, which opened in July, is operated by the State along with three banks: AIB, Bank of Ireland and Permanent TSB.

Speaking following the release of the new data, Minister for Housing Darragh O'Brien said: "I am really encouraged by the interest and the take-up of the First Home Scheme in its first twelve weeks of existence.


"We are now seeing people buy and move into their new home as a result of the First Home Scheme and we will see thousands more over the coming years.

"Through this scheme we are making home ownership easier for those who are finding it just out of reach. We know that the overwhelming majority of renters would much rather own their own home and for most they would pay less in monthly repayments for the home than in rent.

"This scheme helps those who are stuck in that rental trap, it gives them a helping hand towards homeownership. The fact that people already have keys to their new home proves this is working."

Michael Broderick, cheif executive of the First Home Scheme, said: "It is early days, but we are off to a good start and First-Time Buyers are responding very favourably to what we offer, with close to 2,000 registrations of interest and over 500 eligibility certificates issued already."

The First Home Scheme has received a €400 million investment from the Government to facilitate the purchase of up to 8,000 homes over a five-year period, subject to demand.

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