The new First Home Scheme can be a ‘game changer’ for first-time buyers in Laois says a local TD.
Minister for State at the Department of Finance says the scheme will particularly benefit people in Laois on low to middle incomes.
In Laois, it will specifically help individuals or couples with joint annual incomes of €60,000 or above to purchase and own their own home where the price is under €300,000.
The Fianna Fáil TD said “First Home is a Government-backed shared equity scheme which will see the State provide part of the price of a new home alongside the buyers mortgage and deposit.
“This can bridge the gap between the price of a home and the current maximum a person or couple can borrow depending on their income.
“The existing Help to Buy Scheme (HTB) can also be used alongside this new scheme and could provide 10% of the price of the property towards the buyer’s deposit.
“The HTB Scheme is where you can get a refund of the Income Tax you paid over the previous four years and to use it as a deposit for your new house.
“The scheme is available to first-time buyers and also gives fresh start exceptions to those who may have previously purchased a property if they have separated or experienced insolvency.”
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