Housing Schemes

Dáil Éireann Debate, Wednesday - 17 January 2024

Wednesday, 17 January 2024

Ceisteanna (734)

Michael Creed

Ceist:

734. Deputy Michael Creed asked the Minister for Housing, Local Government and Heritage if he will clarify the situation regarding eligibility for the first-home scheme in circumstances where a letter of loan approval has issued from the bank to the applicant but where due to escalating costs and being several months since the loan offer issued, the loan offer and savings and the help-to-buy scheme are no longer sufficient to meet the contractual costs; and if in such circumstances, eligibility for the first-home scheme can be considered. [56432/23]

Freagraí scríofa

Minister for Housing, Local Government and Heritage

The First Home Scheme, which launched in July 2022, is a shared equity scheme designed to help bridge the affordability gap for eligible first-time buyers and other eligible homebuyers. The Scheme was expanded in April to include the Tenant Home Purchase Scheme, and was further expanded in September to include self-build homes. Details of the First Home Scheme are available at: www.firsthomescheme.ie. Specific information on rules and eligibility are available in the FAQ section of the website, which also contains information in relation to the type of situation outlined.

The First Home Scheme DAC (Designated Activity Company) is fully responsible for the operation of the First Home Scheme on behalf of all shareholders (State, AIB, Bank of Ireland, and PTSB). Specific queries relating to an application can be raised with the First Home Scheme directly, either by e-mail, or by using the dedicated call centre which is open Monday to Friday. Contact details are available at: 

www.firsthomescheme.ie/get-in-touch/.

Question No. 735 answered with Question No. 733.