Over 8,000 buyers approved under First Home Scheme

Ottoline Spearman

Buyers in all 26 counties have now been approved by the First Home Scheme.

Launched in July 2022, the €740 million fund was established to support first-time buyers in purchasing their first property. The scheme works by bridging the gap between the available mortgage, deposit, and the price of the new home.

As of the end of September 2025, 8,399 buyers had been approved.

In total, over 19,200 potential buyers or self-builders have registered their interest in the scheme, with the average price of house purchase, or home built, standing at €387,000.

The fund provides on average €66,000 per property - 17 per cent of the average purchase price.

The Government recently announced an extra €80 million in government funding, to top up the fund, which has been depleted by €273 million to fund 4,118 homes.

Housing Minister James Browne said: “This Government believes in home ownership and is taking concrete steps to support home ownership.

The First Home Scheme has been a key part of these efforts and has proven to be a vital support for thousands of first-time buyers. That is why I have extended the scheme."

Buyers in Dublin, Kildare, Cork, Meath and Wicklow are the heaviest users of the Scheme, constituting 72 per cent.

Further, 66 percent of First Home Scheme users are also availing of the Help to Buy scheme.

First Home Scheme Chief Executive, Michael Broderick, said: “Our latest numbers show continued strong interest.  We’re continuing to enhance the scheme in response to customer demand and local market conditions so that we can help even more first-time buyers and other people who qualify.

"It’s noteworthy that two-thirds of scheme users are combining it with the benefits available from the Help to Buy scheme. By combining both schemes, these buyers are able to access additional financial support, allowing them to assemble the necessary deposit while also bridging the funding gap between their mortgage and the price of the new home.

"This dual approach places participants in a stronger position to achieve their goal of owning their own home.”

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

For more information on the scheme, including eligibility requirements, visit www.firsthomescheme.ie.