First Home Scheme Ireland
The First Home Scheme is a shared-equity programme: the State can take a stake in your home alongside your mortgage, which lowers the loan size you need from the bank. It can apply to qualifying new builds and also to some second-hand purchases—details and regional price ceilings are set by the scheme operator and change over time.
If you are specifically hunting a new build, IrishBuilds helps you discover schemes across Ireland; eligibility for FHS itself is decided under firsthomescheme.ie rules and your lender’s criteria—not by us.
Key takeaways
- Shared equity means the scheme has an interest in your home until you buy it out or sell—read the equity terms carefully.
- Price caps and eligible areas are published by the scheme; do not rely on a developer brochure alone.
- First-time buyers are the core audience, but the scheme may cover other cases—check current guidance.
- HTB can complement FHS on some new-home purchases; coordination with your solicitor and bank is essential.
How the scheme works
The state and participating lenders can fund part of your purchase in return for a share of the property. That lowers the loan you need from the bank. You typically repay the equity when you sell or after a defined period, often including a share of any increase in value. Eligibility, price caps, and regions are set by the scheme—check firsthomescheme.ie for current details.
Eligibility and new builds
First time buyers and certain other categories may qualify. New builds are commonly included. Use new builds Ireland and county pages such as new builds Dublin or new builds Galway to discover developments, then confirm scheme eligibility with the provider or your solicitor. For deposit support on new homes, also read our Help to Buy guide.
FAQs
- Where is the official eligibility checklist?
- The First Home Scheme website (firsthomescheme.ie) lists who can apply, regional price limits, and how to start an application. Your lender also checks affordability.
- Do I pay rent on the State’s share?
- The scheme uses charges that depend on the equity percentage and the scheme rules in force when you join. Your offer documents spell this out—go through them with your solicitor.
- Can I staircase (buy back the equity) early?
- Rules cover voluntary redemption and what happens on sale. Timing and cost depend on your contract and the scheme’s terms at the time—do not assume it works like a normal top-up mortgage.
- I only want a new build—does FHS still matter?
- Yes if you need a smaller mortgage to pass Central Bank limits or lender stress tests. Compare FHS against saving for a larger deposit—your broker can model both paths.
- How does this tie into IrishBuilds?
- We aggregate new developments so you can shortlist homes in budget; whether FHS applies is between you, the scheme, and your lender.
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