First Home Scheme Extended to 2027 with €30 Million Boost

Minister for Housing, Local Government and Heritage, Wexford TD James Browne has today (Tuesday, 13 May) announced the extension of the First Home Scheme to June 2027, alongside an additional €30 million in funding to support more first-time buyers in securing a home.

Launched in July 2022, the First Home Scheme is a shared equity initiative aimed at bridging the gap between a buyer’s mortgage, deposit, and the cost of their new home. It has proven especially effective for first-time buyers and self-builders who meet specific eligibility criteria and have mortgage approval from participating lenders. In a press release to South East RadioNews, Minister Browne noted the scheme’s nationwide impact: “For many, this scheme has been essential in turning homeownership from a hope into a reality. Over 6,700 people have already secured funding, and this additional investment ensures many more can follow.” The scheme continues to see growing interest, with over 15,300 registered since launch. In Q1 2025 alone, applications increased by 49% and approvals by 51% compared to Q4 2024. The €30 million boost announced today brings the total State investment to €370 million, matched by participating banks for a combined funding pool of €740 million. This ensures the scheme is well-resourced to continue supporting eligible homebuyers for at least another two years. More details on eligibility and how to apply can be found at www.firsthomescheme.ie.