The Programme for Government, ‘Our Shared Future’, commits to putting affordability at the heart of the housing system, and to progress a state-backed affordable home purchase scheme to promote home ownership. To begin delivering on these commitments, Budget 2021 allocated €75 million for an affordable housing shared equity scheme.
On the 20th of January last I published the General Scheme of the Affordable Housing Bill 2020. This provides the legislative basis for a number of new affordable housing measures, including the aforementioned Affordable Purchase Shared Equity Scheme. The Government approved the priority drafting of the Bill and my Department is working to advance this legislation.
I can confirm that the scheme will be targeted at first time buyers of new build homes. The more detailed design aspects of the scheme, including eligibility criteria, is currently ongoing, and will be informed by our continued engagement with all relevant stakeholders. In finalising any eligibility criteria, I have confirmed my intention to give close consideration to household status and situations of relationship breakdown.