The expansion of the First Home Scheme to include second hand homes is urgently needed, according to a local TD.
Deputy David Maxwell said that prospective homeowners who are looking to buy a second-hand home should have the same opportunities as other first-time buyers who are buying new builds.
The First Home Scheme, first introduced in the last government, is a shared equity scheme for first-time buyers that involves the government and participating banks paying up to 30% of the cost of the home in exchange for a stake in it, which can later be bought back by the home buyer.
Currently the scheme is only available to first-time buyers who are purchasing a newly built property or building their own.
Deputy Maxwell says the First Home Scheme helps to ensure thousands of families secure their new home, but now we need to take this further so that even more families can avail of this scheme.
The local Fine Gael TD said the programme for Government commits to working with the banks to expand the First Home Scheme to first time buyers of second-hand homes.
