Eoin Ó Broin
Question:290. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage the number of homes that he expects to be purchased in 2022 and 2023 using the first home shared equity scheme. [48295/22]
View answerTuesday, 4 October 2022
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The First Home Scheme is one of a suite of measures introduced under ‘Housing for All’ that together are intended to deliver some 54,000 affordable homes between now and 2030. Launched on 7 July 2022, the Scheme supports first-time buyers in purchasing new houses and apartments in the private market through the use of an equity share model.
As a demand-led measure, within which financial support is allocated as and when eligible applications are processed and thereafter funding is drawn down as the standard conveyancing process is completed, there is no annual ceiling on supported purchases.
Overall, the Scheme is intended to support up to 8,000 affordable purchases in the period out to 2026. The State has committed an overall funding envelope of €200m over the lifetime of the scheme to be matched by the participating lenders. As part of Budget 2023, the Minister for Public Expenditure and Reform confirmed €50m of funding would be made available. Full details of the Scheme, including eligibility criteria, are available on the website: www.firsthomescheme.ie