Good news for aspiring homeowners in Mayo
The announcement of an additional €100 million for the First Home Scheme will be welcome news for aspiring homeowners in Mayo.
The news has been welcomed by local TDs Alan Dillon and Michael Ring.
The First Home Scheme was launched by government over two years ago and helps first-time buyers bridge the gap between their mortgage, deposit, and the price of a new home.
Minister Dillon said: “The First Home scheme is a hugely popular scheme, helping 5,400 buyers since its launch. The additional €100m funding will support more people in Mayo to get the keys to their own home.
“This additional funding will allow for the extension of the scheme’s reach, assisting more people to bridge the affordability gap between their mortgage, deposit, and the price of a new home.
“As the pipeline of applications for this scheme continues to surge, people in Mayo considering the scheme can have confidence that it will be an option for them in the future."
He said the government is working to ensure that home ownership is a reality for all.
"Schemes such as this, the Help to Buy, and others are having a real impact for people wanting to get on the property ladder.
“Recent commencement figures, mortgage approval rates, and other metrics all highlight the significant progress being made on housing across the country.
“Sinn Féin would punish aspiring homeowners in Mayo by scrapping these schemes and have opposed the development of homes across the country."
Deputy Michael Ring said “This additional funding will allow for the extension of the scheme’s reach, assisting more people to bridge the affordability gap between their mortgage, deposit, and the price of a new home.
“As the pipeline of applications for this scheme continues to surge, people in Mayo considering the scheme can have confidence that it will be an option for them in the future.
“Recent commencement figures, mortgage approval rates, and other metrics all highlight the significant progress being made on housing across the country.
“Throughout Mayo, I have witnessed how this scheme has paved the way for people to purchase their own home, and I am delighted with the additional funding to ensure it is sufficiently resourced,"