Thousands of first time could be missing out on a government scheme that will let them claim back a minimum of €10,000 amid the cost of living crisis.
The First Home Scheme is aimed at first time buyers or recently separated couples, and the scheme takes a percentage equity stake in the home which is equal to the level of support provided to enable the purchase, RSVP Live reports. For example, if the scheme provides 30% of the funds for your home, it will take a 30% equity interest in your home.
The scheme then allows you to buy back this percentage on your home later, and it means you'll fully own your home. The minimum amount you can get from the scheme is 2.5% of the property purchase price, or €10,000, whichever is higher.
