First Home Scheme Update from Minister O'Brien

This morning the First Home Scheme, which was established by Government last July, published an update for Q1 of this year. Key highlights from the report include:
 

•         1,336 buyers have been approved and received First Home Scheme eligibility certs allowing them to buy their chosen home
•         Over 1,000 new expressions of interest were received in Q1 2023, following the extension of Scheme eligibility to include thousands of additional buyers with effect from January 1st
•         Buyers in Dublin, Cork, Kildare, Meath and Wicklow are heaviest users of the Scheme

The First Home Scheme offers a real opportunity for those young people, and not so young people, who are struggling, to buy their own home. It sees the State stepping in to help them afford a new home, by bridging the gap between their mortgage, deposit and the price of a new home.
 
I am really pleased with the strong interest in the scheme, just eight months on from its establishment. The feedback I’ve received from those who have purchased a home using the scheme is that without it the person would have continued to pay rent while trying to save, rather than paying down a mortgage on their home for life. Testimonies given to the First Home Scheme say that it is very easy to navigate as part of the mortgage process.
 
The establishment of this scheme was something which Fianna Fáil fought for and now that we are in Government it is a reality.
 
Attached please find a breakdown with some key stats and any other information can be found at www.firsthomescheme.ie