Builders propose €85k loan boost for first-time buyers

IHBA has provided a submission to Housing Minister Darragh O’Brien for a shared equity scheme that, if adopted, could benefit 2,500 first-time-buyers in its first year.

Under the proposed scheme, first-time buyers would receive a loan from the Government for as much as 30% of the house price.

Buyers could use the long-term State loan to pay for as much as €145,000 – of the purchase price of a Dublin apartment worth up to a maximum of €485,000.

The proposal sets the price cap for other urban centers and the Greater Dublin Area at €350,000 for apartments and €400,000 for houses. In rural areas would be set at €335,000 for a house and €380,000 for an apartment.

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