Dáil Éireann Debate, Wednesday - 13 July 2022
244. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage the total Government expenditure allocated for the first home shared equity scheme for 2022; the number of home purchases that the Government expects this total funding to facilitate in 2022; and the funding that has been approved for the scheme from the Government in 2023, 2024, 2025 and 2026. [38447/22]
View answerThe First Home Scheme, launched on 7 July, supports first-time buyers in purchasing new houses and apartments in the private market through the use of an equity share model, similar to that employed in the Local Authority Affordable Purchase Scheme.
The Scheme aims to support in the region of 8,000 households in acquiring new homes in the private market in the years 2022 to 2026 with an overall budget of €400 million. Of this amount, €200 million has been committed by the State through a multi-annual capital commitment by the Department, and €200 million by the participating mortgage lenders. The Department’s allocation for First Home Scheme under Budget 2022 is €44 million, with a target of 1,750 equity supports for purchases being made available during this calendar year.
