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26% Of Shared Equity Scheme Grants Have Been Used For Homes In Co. Kildare

Friday, 21 October 2022 16:41

By Caoimhe Harney

File image: Cluid Housing

The first quarterly report of the scheme shows that a total of 508 buyers have been approved since July

Half of shared equity scheme grants have been used for homes in Kildare and Dublin in the first three months of the Government’s housing measure.

The most approvals were granted in Co. Kildare, where 132 buyers were deemed eligible, 26% of the total of those deemed eligible.

The €400 million First Home Scheme was set up to help first-time buyers afford to buy a home amid high housing costs and strict borrowing constraints.

Under the scheme, which is contained in the Government’s landmark Housing for All plan, the State and banks offer 30% of the cost of a first-time buyer’s new home in exchange for a stake in the house.

However, it can be bought back at a later date.

The first quarterly report of the scheme shows that a total of 508 buyers have been approved since July.

Two thirds of those that were deemed eligible for the scheme were buyers in counties Kildare, Meath, Wicklow and Dublin, with the remaining 34% spread across 19 counties.

A further 203 applications are being processed, with most approvals expected to be issued shortly.

Some 823 individual buyers and 1,039 couples have registered their interest in the scheme, a total of 1,862 potential buyers.

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