A decade of housing undersupply, the pandemic, the war in Europe and raw material supply shortages has resulted in double-digit construction inflation driving-up house prices.
To financially help first-time buyers and those making a fresh start buy a new home, the Government introduced the First Home Scheme to help pay up to 30% of the cost.
The First Home Scheme bridges the gap between deposit, mortgage and purchase price. The state and participating banks pay up to 30% of the cost of the new home and this stake can be bought back at any time. It can be used along with the Help to Buy scheme and is available to those over 18, first-time buyers OR fresh start applicants and those who have mortgage approval from a participating lender.
For more information on the First Home Scheme, click HERE.
