The success of the First Home Scheme is helping to ensure families in County Cork can secure their new home, Fine Gael Councillor John Paul O’Shea has said.
The scheme is a shared equity scheme, designed to help bridge the gap for first-time buyers and other eligible homebuyers between their deposit and mortgage, and the price of their new home.
It was established in July 2022 with the aim of supporting up to 8,000 affordable purchases over a four-year period.
Today, data shows that a total of 10,669 prospective buyers have now registered their details with 4,856 applications have been approved across 26 counties.
Cllr O’Shea said: “This scheme has been a significant success in bridging the gap for potential homeowners in County Cork.
“The figures today show the impact it is having in a relatively short period of time, with a total of 398 buyers approved with live eligibility certificates by Cork County Council.
“This clearly demonstrates that there is now momentum behind the scheme in Cork, and is making home ownership a reality for many young people across the county.
“It has proven to be a very effective measure to support over 4,000 individuals or families to achieve homeownership across the country, a key objective under Housing for All.”
Minister of State Alan Dillon TD said: “Housing is Fine Gael’s number one priority. It is the greatest societal challenge we face.
“Every week, this Government takes new measures to respond to the challenge and we are seeing the benefit of those measures with the number of people accessing this scheme double that it was this time last year.
“The number of homes commenced is now at record levels. Fine Gael is committed to ensuring home ownership is achievable for single people, couples, and families.”
