Some good news for first-time house buyers in Mayo

Fianna Fáil Senator Lisa Chambers has welcomed the raising of the First Home Scheme ceiling with immediate effect in Mayo from €325,000 to €350,000, meaning more first-time buyers now qualify for the Scheme.

The First Home Scheme is primarily targeted at first-time buyers and self-builders who are seeking to buy a newly constructed home, but who cannot secure the full amount required from their mortgage and deposit.

The scheme aims to bridge the gap for eligible purchasers between their deposit and mortgage, and the price of new home sold through the private market.

Senator Chambers said: “Housing continues to be a top priority of government.

"With the First Home Scheme our aim is to make home ownership achievable for thousands of individuals and families by bridging the gap between their deposit and mortgage and the price of their new home.

“The raising of the First Home Scheme ceiling with immediate effect in Mayo is hugely welcome news.

"It means that more people will now be able to afford a home as they will now become eligible.

“We will continue to support first-time buyers as a priority with tax rebates and other financial supports to help them get on the property ladder.

"Our Housing for All plan, the most ambitious housing plan in the history of the state, is taking hold.

"From June 2023 to May 2024, 51,935 housing units commenced construction and the pace of new housing growth in Ireland is the fastest in Europe when measured on a per-population basis."