17 May 2025
By Bryan McCarthy
bryan@TheCork.ie
The extension of the First Home Scheme will help more people in Cork buy their own home, Fine Gael Cork North West TD John Paul O’Shea has said.
File photo of typical modern SemiD in Cork.
Deputy O’Shea has said an extra €30m in funding and the extension of the First Home Scheme will continue to support first time buyers in Cork. The scheme, which bridges the gap between people’s spending power and the price of a new home has helped over 3,000 First Time Buyers to purchase homes since its introduction in 2022.
Cabinet today signed off an extra €30m in exchequer funding with participating banks matching this funding and extending the scheme for another two years. The overall funding for the scheme now stands at €740m. It’s also expected that the additional €30m announced today will allow for approximately 1,200 further approvals to the scheme.
Deputy O’Shea said: “The First Home Scheme has been hugely successful in responding to affordable housing needs in Cork and every county across the country to date.
“It has made a positive impact on the accessibility of home ownership and to housing delivery and today’s further €30m in Exchequer funding further bolsters the Government’s commitment to the scheme into the future.
“The scheme has improved access to home ownership as the State is bridging the gap between how much a person can afford and the cost of a home. There is huge interest and demand for this scheme, and I am urging people in Cork to ensure they are aware of how it can support them to get on the property ladder,” concluded Deputy O’Shea.