First Home Scheme | First Time Buyers | Beakonshaw

FIRST HOME SCHEME

First Home Scheme is a Shared Equity Scheme that helps you bridge the gap between the deposit you have saved, the mortgage you can apply for (up to 4 x your income), and the price of your new home. It’s available for families and individuals who are first time buyers plus other eligible homebuyers.

ACCESS UP TO 30% OF THE PURCHASE PRICE

You can access funds of up to 30% of the purchase price of your new property. Or up to 20% if you’re using the First Home Scheme in conjunction with Help to Buy. Accessing the funds gives First Home Scheme a percentage ownership in your home, known as an equity share. You can buy out all or part of the equity share at any time.

PROVIDERS BEHIND THE SCHEME

First Home Scheme is funded and supported by the Government of Ireland together with Participating Lenders AIB, Haven, EBS, Bank of Ireland and Permanent TSB. To be eligible or the scheme, you must take your mortgage out with a Participating Lender.

FULL ELIGIBILITY CRITERIA

To be eligible for the scheme you must be:

 

  • Over 18 years of age and a first-time buyer, or other eligible homebuyer, buying a newly built house or apartment
  • Have a Mortgage Approval with a Participating Lender for the maximum amount available to you (4 x your income)
  • Have the minimum deposit of 10% of the property purchase price
  • Purchasing the property as your Principal Private Residence
  • Within the House Price Ceiling for your Local Authority Areas

 

Ready to apply? Visit the First Home Scheme website to find learn more about eligibility and terms and conditions, and to access the eligibility calculator.