Tipperary TD welcomes 'essential' extension of First Home Scheme to 2027

The extension comes with an additional €30 million funding from the government

The strong interest in the First Home Scheme continues with over 15,300 registering their interest in the Scheme.

6,700 buyers have been approved for the scheme since it was launched.

The Government has now extended the First Home Scheme to June 2027, in addition to committing a further €30 million in funding.

Welcoming the the news, Deputy Lowry says that the First Home Scheme, which was launched in July 2022, is a "shared equity scheme designed to help bridge the gap for eligible first-time buyers, eligible homebuyers and self-builders, between their deposit and mortgage, and the price of their new home".

Price ceilings have been established across the country.

Use of the scheme amongst first-time buyers increased significantly in Q1 2025 as reflected in the number of new applications to the scheme (859 up 49% on Q42024) and approvals (727 up 51% on Q4 2024).

The First Home Scheme is available to first-time buyers, or those making a fresh start, who have mortgage approval with a participating lender.

The additional €30 million in funding will bring the total State commitment to the scheme to €370 million.

This will be matched 50:50 by the participating banks, and will bring the total commitment to the scheme to €740 million.