Only one buyer in Kerry uses First Home Scheme in third quarter

Radio Kerry reported that only one household in County Kerry drew down funds through the state First Home Scheme in the third quarter of the year. The government initiative provides supplemental funding for first-time buyers who cannot cover the cost of a new-build or self-build property despite having a deposit and mortgage approval. [1]

Since the initiative started, seven buyers in County Kerry have completed property purchases using the scheme, according to Radio Kerry. The station reported that 29 scheme approvals have been granted in the county so far. [1]

The First Home Scheme was launched in Ireland on July 7, 2022, as a shared equity program. Under the rules, the state takes an equity share of up to 30 percent in the property to help buyers reach the full purchase price. [1][2]

Across Ireland, more than 6,500 first-time buyers have purchased homes using the shared equity initiative, according to Radio Kerry. [1]