First Home Scheme Ireland
Last reviewed: 10 October 2026.
The First Home Scheme can pay part of the price of a new home, or part of a self-build cost, in return for a percentage share of that home. It is not a second mortgage. You can buy the share back later, and if you sell, the scheme is paid its percentage from the sale.
The maximum share is 30% of the purchase price or build cost. If you also use Help to Buy, that maximum falls to 20%. The minimum is the higher of 2.5% or €10,000. Local authority price ceilings still apply, and they change, so check the scheme’s own table before you reserve.
Key takeaways
- There is no service charge for the first five years. From year six it is 1.75% a year until year 15, then 2.15% until year 29, then 2.85%.
- The percentage stays the same if the home’s value changes. The euro amount you pay to buy the share back moves with the value.
- Help to Buy can be used with the new-build and self-build products. It cannot be used with the tenant home-purchase product.
- You need a minimum 10% deposit. Help to Buy can count towards that deposit on a qualifying new home.
How the scheme works
The First Home Scheme and the participating lenders fund a percentage of a new home. You own the rest with your mortgage and deposit. The scheme keeps that same percentage until you buy it back. If the home later sells for more, or for less, the euro value of the scheme’s share moves with it. The percentage does not.
On a new house or apartment the maximum is 30% of the purchase price. On a self-build it is 30% of the build cost. Use Help to Buy as well and the maximum becomes 20%. The smallest share is whichever is higher: 2.5% of the price or build cost, or €10,000. The scheme’s own example of using both supports is a €450,000 home, where 20% is €90,000. That is a ceiling, not the amount you will be offered. The offer depends on the gap between the price, your deposit, and the maximum mortgage.
| Year after drawdown | Service charge each year |
|---|---|
| Years 1 to 5 | None |
| Years 6 to 15 | 1.75% |
| Years 16 to 29 | 2.15% |
| Year 30 onwards | 2.85% |
The charge is worked out on the original price or build cost, not on a later valuation. There is no extra fee for deferring it, but the balance is still due when you redeem the share or sell. The scheme says this equity product is not regulated by the Central Bank of Ireland. Read the customer contract with your own solicitor and financial adviser.
Eligibility and new builds
The new-build product is a new house or apartment in a private development in Ireland, within the local authority price ceiling, and it has to be your home. A self-build on a site you own, or are buying, can qualify too. The tenant home-purchase product is for a home you already rent. Help to Buy cannot be used for that product, because Help to Buy is only for new and self-built homes. You can use both on a new build or a self-build. See the Help to Buy guide for who actually receives that refund.
You need at least a 10% deposit. On a self-build, equity in the site can make up that 10%. Help to Buy can form part of the deposit on a purchase that qualifies. You also have to take the maximum mortgage a participating lender will give you, up to four times your income, and you cannot be using a macro-prudential exception.
Price ceilings differ by council, and in some areas the apartment ceiling is higher than the house ceiling. Do not copy a ceiling from a forum. Use the table on the First Home Scheme site, then look at developments on new builds Ireland, Dublin, or Galway.
FAQs
- Can I combine Help to Buy and the First Home Scheme?
- Yes, for a new build or a self-build, if you qualify for both. The First Home Scheme share is then capped at 20% instead of 30%. Eligibility for Help to Buy is decided by Revenue, not by the First Home Scheme.
- Is the charge rent?
- No. The scheme calls it a service charge. Nothing is charged for the first five years after drawdown. After that, the annual charge is the original purchase price or build cost, multiplied by your equity percentage, multiplied by that year’s rate. It accrues daily. You can pay it monthly or let it build up and pay it when you buy the share back or sell.
- Can I buy the equity back early?
- Yes. You can redeem all or part of the share. The percentage you still owe stays the same until you redeem it, but the euro cost changes if the property value changes. On a sale, outstanding service charges are paid as well.
- Who can apply?
- You must be 18 or over, a first-time buyer or another eligible buyer such as a fresh start applicant, and buying or building a home in Ireland to live in. You need mortgage approval from a participating lender for the maximum they will lend you, up to four times income, and you cannot be using a macro-prudential exception. There is no separate household income cap.
- Where are the price ceilings?
- On the First Home Scheme website, by local authority and by house or apartment. A brochure price above the ceiling for that area and property type cannot use the scheme. Ceilings are reviewed and can change.
Sources
- First Home Scheme: about the scheme, equity limits, and worked examples
- First Home Scheme: FAQs, including service-charge rates and Help to Buy
- Revenue: First Home Scheme equity and the Help to Buy loan-to-value test
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