State and banks to top up First Home Scheme with €80m

Darragh O’Brien said the scheme that bridges the gap between home prices and what people can afford will also be extended

Housing minister has now confirmed that funding to the scheme will be boosted with €40 million of further exchequer funding, which will be matched by the Bank of Ireland, AIB and Permanent TSB. Picture: Getty

Darragh O’Brien, the minister for housing, has secured government approval for an extra €80 million in funding for the First Home Scheme.

The scheme, which was established in 2022, involves the state providing up to 30 per cent of the market value of a home to a buyer of a new-build. The government funded the scheme with €400 million to buyers to be paid to prospective homeowners between 2021 and 2026.

O’Brien has now confirmed ...