Cormac Devlin
Question:150. Deputy Cormac Devlin asked the Minister for Housing, Local Government and Heritage what funding is being provided for the first-home scheme in 2024; and if he will make a statement on the matter. [48952/23]
View answerThursday, 9 November 2023
Questions (150)
Written answers
The First Home Scheme, which launched on 7 July 2022, supports first-time buyers and other eligible homebuyers in purchasing new houses and apartments in the private market through the use of an equity share model. Details are available on the First Home Scheme website, www.firsthomescheme.ie. The overall funding for the First Home Scheme is €400 million. It is anticipated that these funds will facilitate the delivery of 8,000 affordable interventions in the period up to 2026. This committed funding comprises €200 million from my Department, and €200 million collectively from the participating mortgage lenders, i.e. a 50:50 division of funding. Building on the State funding already provided to the First Home Scheme, a further €50m has been announced to support the Scheme in 2024.
The Revised Estimates Volume for the Public Service (REV) is published in mid-December every year. This provides final detail on the allocations by subhead for the following year and takes into account both the Programme level allocations announced at Budget and any additional allocations, for example just transition, carbon fund, etc.