Inside Track

Housing for All – Schemes Available for Newly Built Homes in Ireland

Are you searching to buy a newly built home in Ireland?

As part of the “Housing for All” initiative, there are currently a number of schemes available in Ireland that support people searching for a new house. This article will concentrate on the resources accessible to people seeking to purchase a newly built home.

Housing For All

What is the “Housing For All” Scheme?

The Government’s national housing plan for 2030, ‘Housing For All’ aims to deliver more homes of all types for people with different housing needs. With the goal of making housing more affordable and energy efficient. The plan recognises the need for major new services to enable those who desire to purchase their own house to do so. These supports are primarily targeted at first-time buyers who are seeking to buy a newly constructed home, but who cannot secure the full amount required from their mortgage and deposit.

Outlined in this plan are “four pathways” to addressing the housing crisis, which the government claims will result in a more “sustainable” housing system. They are as follows:

  • Supporting home ownership and increase affordability.
  • Eradicating homelessness and increasing social housing delivery.
  • Increasing new housing supply.
  • Addressing vacancy and making efficient use of existing stock.

Housing For All

Help To Buy Scheme (HTB)

The Help To Buy Scheme is a government tax refund scheme designed to assist first-time home buyers in obtaining the deposit required to purchase a newly constructed home.

This scheme applies to properties to the value of €500,000 or less. If you are a first-time buyer who purchases or constructs a new residential property between 19 July 2016 and 31 December 2024, you may be eligible for a refund of income tax and DIRT paid in the previous four tax years. If you qualify for the new higher rate of €30,000, you might not need to save for a deposit on a property worth €300,000 or less.

The scheme only applies to properties that are bought or built as the first-time buyer’s home. It is not available for investment properties. If you have inherited or been gifted a property it will not affect your eligibility.

Key Points
  • The Incentive applies to properties to the value of €500,000 or less.
  • This applies to the buying of a new house or apartment, but also to once-off self-build homes.
  • It provides first-time buyers with a refund of income tax and DIRT paid in Ireland from the previous 4 tax years.
  • You must take out a mortgage of at least 70% of the purchase price of the house.
  • You must reside in the property for at least five years after you have bought or built it.
  • You can claim €30,000 or 10% of the purchase price/completion value or the amount of income tax and DIRT you paid in the previous four years; whichever is less.
  • The Help To Buy Scheme is available until 31 December 2024.

Apply online using Revenue’s MyAccount service. And, as long as you are tax compliant, Revenue will send you a summary of the maximum refund you are eligible for within five working days.


Housing For All

Local Authority Affordable Purchase Scheme

The Local Authority Affordable Purchase Scheme makes local authority-provided homes more affordable to first-time buyers and Fresh Start applicants whose combined mortgage and deposit do not cover the market price of a newly built home.

The local authority takes a percentage equity stake (share of ownership) in the home through the scheme equal to the difference between the open market value of the property and the reduced price paid by the purchaser. The homeowner has the option but not the obligation to buy back the local authority’s equity stake at any time.

Key Points
  • The scheme is run by Local Authorities in Ireland with the aim of providing first-time buyers with the opportunity to buy a home, where their income is insufficient to attain a house independently.
  • The Local Authority take a percentage of equity in the newly-built home, which results in a discount on the cost of the home for the buyers.
  • The new purchase price of the home will be the difference between the market value of the home and the percentage of equity taken by the Local Authority in the dwelling.
  • The amount of discount received on the cost of the home will reflect the amount of ownership taken in the property by the Local Authority (e.g. 5% discount = 5% ownership).
    • The minimum discount on a property will be 5% and the maximum discount provided will be 25% of the market value of the property.
  • After taking a stake in the home, the Local Authority will then have part-ownership, which can be bought back over time, if you wish, however, this is not a  requirement.
  • The scheme will require a mortgage approval letter in principle upon application to highlight the maximum mortgage loan available to the purchasers.
    • If your mortgage loan can cover 85.5% of the cost of the home, you won’t be eligible for the scheme.
  • Buyers will also be required to raise a 10% deposit for the home, which can be acquired independently or with the aid of the Government scheme, Help to Buy.
  • Eligibility for the scheme will depend on a number of factors such as:
    • Eligibility to reside in Ireland
    • First-time buyer or ‘fresh start’ status (with some exceptions)
    • Income between €56,000 to €81,000 a year
    • Your level of savings
    • A combined mortgage and deposit that would be insufficient to purchase the home at market value


First Home Scheme (FHS)

The First Home Scheme is designed to help eligible first-time buyers and Fresh Start applicants bridge the gap between their deposit and mortgage and the private market price of a new home (subject to regional price ceilings). This scheme is a shared equity scheme that pays up to 30% of your house price in return for a stake in your property. You can buy back the share if you can afford to, but you’re under no obligation to do so.

Key Points
  • The scheme is available nationwide for first-time buyers and certain other people who want to buy a new home but can’t afford to. Your income is not assessed for the FHS.
  • It’s a shared equity scheme with funds up to 30% of the property purchase price.
  • The minimum equity share is 2.5% of the property purchase price, or €10,000, whichever is higher
  • Local authority area price ceilings apply
  • You don’t need to pay anything back while you live in the property as your principal primary residence. However, you’ll also have to repay the scheme equity if you sell your house and move.
  • The scheme is free for the first five years, but after that, you’ll have to pay a service charge fee on the amount the government gave you.

Apply for the First Home Scheme now 


Housing For All

Local Authority Home Loan Scheme

A Local Authority Home Loan is a government-backed mortgage for first-time buyers and fresh start applicants that is now accessible nationally through your local authority. The Fresh Start means that applicants who are divorced, legally separated/separated or the relationship has ended and have no financial interest in the family home are eligible to apply under this scheme. In addition, applicants who have undergone personal insolvency/bankruptcy proceedings will also be eligible to apply for the Local Authority Home Loans Scheme.

The interest rates are fixed for the full term of the mortgage, so you have the same repayments for the lifetime of the loan. It can be used to buy a new or used home, as well as for self-build. A Local Authority Home Loan provides up to 90% of the property’s market value. The maximum loan amount is determined by the location of the property.

Key Points
  • A Local Authority Home Loan offers two fixed interest rate products:
    • 3.35% fixed for up to 25 years (APR 3.40%)*
    • 3.45% fixed for up to 30 years (APR 3.51%)*
  • Eligible applicants must have a gross annual income of less than €70,000 for single applicants and €85,000 for joint applicants. These new increased limits came in on 1 March 2023 and apply nationwide.
  • Have a deposit of at least 10% of the property’s market price or purchase price, whichever is less. If you are eligible for the Help to Buy Scheme, you can use this towards your deposit. If you are getting the loan to buy your local authority home under a Tenant Purchase Scheme, you do not need a deposit.
  • You can borrow up to 90% of the market value of the property.

    Maximum market values of the property that can be purchased or self-built are:

      • €360,000 in Dublin, Kildare or Wicklow, or
      • €330,000 in Cork, Galway, Louth or Meath, or
      • €300,000 in Clare, Kilkenny, Limerick, Waterford, Westmeath or Wexford, or
      • €275,000 in Carlow, Cavan, Donegal, Kerry, Laois, Leitrim, Longford, Mayo, Monaghan, Offaly, Roscommon, Sligo or Tipperary.

You can apply for the Home Loan Scheme by completing a Local Authority Home Loan application form here.

Are you looking at buying a new home? Browse our developments here or speak to one of our expert property specialists today.

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