'Gamechanger' - First Home Scheme can make homeownership a reality for first-time buyers in Carlow
Fianna Fáil TD for Carlow, Jennifer Murnane O'Connor has said the First Home Scheme can be a gamechanger for first-time buyers.
The Fianna Faìil TD said:
“The First Home Scheme has the potential to be a real gamechanger for those attempting to get on the property ladder.
“First Home is a Government-backed shared equity scheme which will see the state provide part of the price of a new home alongside the buyer's mortgage and deposit.
“This can bridge the gap between the price of a home and the current maximum a person or couple can rent depending on their income.
“The Help to Buy Scheme (HTB) can also be used alongside this scheme and could provide 20% of the price of the property going towards the buyer's deposit.
“The maximum stake the state can take as equity under the First Home Scheme is 30% without the HTB, and 20% if the HTB is being used.
“The scheme is available to first-time buyers and also gives fresh start exceptions to those who may have previously purchased a property if they have separated or experienced insolvency.
“Government are working under the Housing For All plan to make homeownership a reality for everyone and this scheme is proof of momentum building behind the Housing For All programme.”