The First Home Scheme (FHS) bridges the gap between a buyer's deposit and mortgage and the purchase price of a new home. The government and participating banks take a shared equity stake of up to 30% of the home's value — this reduces to 20% if combined with the Help to Buy Scheme. There is no charge for the first 5 years; a service charge applies from year 6. The buyer can buy back the equity share at any time.
Price ceilings vary by local authority area and are reviewed twice a year. In January 2026 the ceiling was raised by €25,000 in 17 local authority areas (for example, Cork City rose to €500,000). Always check the First Home Scheme website for the current ceiling for the area you are buying in.
Open to first-time buyers of new builds, self-builders, and renters whose landlord is selling (Tenant Home Purchase Scheme). Cannot be combined with the Local Authority Affordable Purchase Scheme or LA Home Loan.
First-time buyers or 'fresh start' applicants. Must borrow maximum available mortgage (up to 4x income) from a participating lender and have a minimum 10% deposit. Property must be a new build or self-build within price ceiling for the local authority.