Help to Buy increase backs people working hard to get ahead and own their own home in Cork

The €5,000 increase in Help to Buy announced in Budget 2027 will help first-time buyers in Cork turn hard work and savings into a home of their own, Cork North West Fine Gael TD John Paul O’Shea has said.

The increase raises the maximum support available to eligible first-time buyers purchasing a new home from €30,000 to €35,000.

Deputy O’Shea said: “If you work hard and save for your future, you should have a fair chance to get ahead. For so many people, that means being able to buy a home in Cork, put down roots and build a life in their own community.”

“But when you are paying rent and trying to save a deposit at the same time, that ambition can feel out of reach. An additional €5,000 through Help to Buy will make a real difference to eligible first-time buyers working towards getting their keys.”

“Fine Gael introduced Help to Buy to back people making that effort and 125,000 have bought new homes using the scheme. Simon Harris’ decision to increase the support to €35,000 puts our Budget message of ‘Work Hard, Get Ahead’ into practice.”

“Last year almost 10,000 families purchased a new home with the support of this scheme and the same is expected in 2026.”

“Home ownership should be an achievable ambition. This is a practical step towards making sure hard work pays off.”

The change was implemented by way of a Budget night Financial Resolution which took effect from 7 October 2026.

Accordingly, the increased maximum amount of relief (€35,000) applies to HTB claimants who enter into a contract for the purchase of a new build home, or, in the case of a self-build home, who draw down the first tranche of their mortgage, on or after 7 October 2026. The other parameters of the scheme remain the same.

As set out in the Budget 2027 Tax Policy Changes documentation, the full-year cost of the increase is €16 million.

Geographical Breakdown of HTB Claims to 30 September 2026