The First Home Scheme

First Home Scheme

The First Home Scheme (FHS) is a shared equity scheme, designed to help bridge the gap for first-time buyers and eligible homebuyers between their deposit and mortgage, and the price of their new home. It is available for newly built houses or apartments in a private development in the Republic of Ireland. 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 percentage ownership that the FHS holds in your home is known as an equity share.

A hand holding a house key with the door in the background

How to apply

The First Home Scheme is funded and supported by the Government of Ireland (Department of Housing, Local Government and Heritage) in partnership with Participating Lenders.

To be eligible for The Scheme you must be:

– Over 18
– A first-time buyer, who is defined as a person who:
– Has not previously purchased or built a dwelling in the Republic of Ireland for his/her occupation, and
– Does not own or is not beneficially entitled to an estate, or has interest in and dwelling in the Republic of Ireland or elsewhere, and
– Has a right to reside in the Republic of Ireland.

How much funding can The First Home Scheme provide?

– The FHS can fund up to 30% of the purchase price of your new property
– This amount is reduced to 20% if you are availing of the Help to Buy Scheme (HTB).
– The minimum equity share is 2.5% of the property purchase price, or €10,000, whichever is higher