If the gap between your mortgage and the price of a new home feels unbridgeable, this is the scheme built to bridge it: the First Home Scheme puts up up to 30% of the price of a new build in exchange for a stake in the property. It's not a loan — there are no monthly repayments on it — and it can be combined with Help to Buy. Here's how it works, minus the jargon.
Quick facts
- How much
- Up to 30% of the home's value (20% if combined with Help to Buy)
- What it is
- Shared equity — the scheme owns a % of your home
- For
- New builds, self-builds, and tenants buying from their landlord
- Repayments
- None required — you can buy the equity back anytime
How does the First Home Scheme actually work?
The scheme pays part of the price and in return owns that percentage of your home — which you can buy back over time, at its value when you do.
Example: on a €400,000 new build, the scheme could contribute up to €120,000 for a 30% stake. You own the home, live in it, and there are no monthly repayments on the equity. From year 6 a small annual service charge applies, and you can buy the stake back — in full or in steps — whenever it suits you.
Who qualifies?
First-time buyers, self-builders, tenants buying from a selling landlord — and 'fresh start' applicants after divorce, separation or insolvency.
The core conditions: you're over 18, you'll live in the home as your main residence, you don't own property anywhere, you're borrowing the maximum available from a participating lender (up to 4× income) with at least a 10% deposit, and the property is inside your area's price ceiling. The 'fresh start' route matters: previously owning a home doesn't exclude you if you lost your interest in it through relationship breakdown or insolvency.
Can I combine it with Help to Buy?
Yes — and most buyers should check both. But combining caps the First Home share at 20% instead of 30%.
Help to Buy is a tax rebate of up to €30,000 toward your deposit; the First Home Scheme is equity toward the price. Stacked, they can close a very large gap — the 20% cap when combined is still substantial money.
How do I apply?
Check the online calculator at firsthomescheme.ie, get mortgage approval in principle from a participating lender, then apply with your documents.
The sequence: 1) use the FHS eligibility calculator, 2) get Approval in Principle from a participating lender, 3) apply to the scheme with your AIP, ID and proof of address (plus costings if self-building), 4) receive your Eligibility Certificate and give it to your lender. The funding is then built into your mortgage letter of offer.
General information, not financial or legal advice. Rules and amounts change — confirm the current details on the official source (Gov.ie, SEAI.ie, HSE.ie or Citizens Information) before you claim.
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