First Home Scheme Ireland

The First Home Scheme helps eligible buyers (including first time buyers) by taking an equity stake in their home, reducing the mortgage required. It applies to new builds and qualifying second-hand homes. This guide explains how it works and links to finding new builds by county.

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.

FAQs

What is the First Home Scheme?

The First Home Scheme is a shared equity scheme for first time buyers (and some other eligible buyers) in Ireland. The state and participating banks can take an equity stake in your home, which can reduce the mortgage you need and help you afford a new build.

Can I use the First Home Scheme for a second-hand home?

The First Home Scheme applies to both new builds and second-hand homes, subject to eligibility and price caps. Rules and price limits are set by the scheme; check firsthomescheme.ie for current criteria.

How does shared equity work?

The scheme buys a percentage of your home. You pay back that equity when you sell or after a set period, often with a share of any increase in the property’s value. Your solicitor and the scheme provider can explain the exact terms.

Can I combine First Home Scheme with Help to Buy?

Yes. Eligible first time buyers of new homes can use both Help to Buy and the First Home Scheme, subject to the rules of each. Your lender and solicitor can confirm how they work together.