First time buyers can now tap into scheme for €325K house

An increase in the price ceilings in the First Home Scheme opens the door to additional potential buyers, according to Senator Robbie Gallagher.

The €400m First Home Scheme was launched last July last year aimed at helping first time buyers bridge the gap between their mortgage, deposit and the price of a new home.

Local Authority price ceilings for houses in Cavan are €350,000 and for Monaghan it’s €325,000.

"The increase in the price ceilings for the scheme follows the first of the scheme’s twice-yearly reviews of qualifying houses with the second review due in July. The limits set out in the scheme have risen by up to €75,000 in 30 of Ireland’s 31 local authority areas meaning that every new house valued at €325,000 or less will be eligible for the scheme across Ireland.”