First Home Scheme To Be Extended For More Prospective Wicklow Buyers

More First-Time Buyers will qualify for the scheme following latest scheduled twice-yearly review of price ceilings. The limit for new houses in Dublin city and county and Wicklow goes up to €500,000

The first home scheme is being extended for prospective buyers across Co. Wicklow with increases in price ceilings for 16 local authority areas.

The new limit for houses and apartments will rise to €500,000 following a review of qualifying homes which will take effect from tomorrow.

The limit for new houses in Dublin city and county and Wicklow rise. The scheme offers 30% of the total purchase price. 72% of approvals have been for buyers including in Wicklow.

A recent review will result in increased price ceilings in 16 of Ireland’s 31 local authority areas, with most of these 16 local authority areas seeing an increase of €25,000 in the relevant ceiling.

The Scheme is a joint venture between the State and three banks, currently AIB (including EBS and Haven), Bank of Ireland and PTSB, with an ability for other authorised mortgage lenders in the Irish market to join the scheme.

The Minister for Housing, Local Government and Heritage, James Browne TD, said:

“The changes to price ceilings being announced today are good news for people buying their first home, and other people who qualify for the First Home Scheme in 16 local authority areas across Ireland.

This Scheme is helping thousands of people to bridge the affordability gap and buy their first home and these changes will allow more people to qualify. I want people to be in that position, and this scheme continues to support that ambition.”

The Scheme’s latest quarterly progress update was published in April and showed 6,774 buyers in all 26 counties have been approved by the Scheme and have received eligibility certificates allowing them to buy their chosen home. (A joint application is counted as one buyer, not two).

3,323 buyers in 25 counties have already completed the purchase of or drawn down funds to self-build their home using the Scheme.

72% of live approvals have been for buyers in Dublin, Cork, Kildare, Meath and Wicklow, with the remaining 28% spread across 21 counties throughout Ireland.