The First Home Scheme allows you to purchase a newly built house or apartment in a private development. Property price ceilings per local authority area apply to both houses and apartments. In some local authority areas, the price ceiling for houses and apartments is different.

In order to qualify for the FHS, the purchase price of your property must be equal to or below the property price ceiling for the local authority area in which the property is located.

The FHS property price ceilings are regularly reviewed and may be subject to change. The property price ceilings are as follows:

Local Authority Area House Price Ceilings* Apartment Price Ceilings

Cork City
Dublin City
Dún Laoghaire-Rathdown
Fingal
South Dublin

€475,000

€500,000

Galway City

€425,000

€450,000

Limerick City and County

€375,000

€450,000

Waterford City and County

€350,000

€450,000

*For the purposes of the First Home Scheme, duplexes fall within house price ceilings.

Local Authority Area Price Ceilings (all properties)

Wicklow County

€475,000

Cork County
Kildare County

€425,000

Galway County
Kilkenny County
Louth County
Meath County
Westmeath County

€375,000

Laois County

€350,000

Carlow County
Cavan County
Clare County
Donegal County
Kerry County
Leitrim County
Longford County
Mayo County
Monaghan County
Offaly County
Roscommon County
Sligo County
Tipperary County
Wexford County

€325,000

WARNING: We strongly recommend that you seek advice from an independent financial adviser and legal adviser if applying for this product.

WARNING: Property prices can go up and down. As the equity facility is linked to the value of your home, any change in property prices will affect any partial or final redemption amounts. If property prices increase/decrease over time, the percentage equity you have to redeem will remain the same but the € amount will increase/decrease. See example in the case of a price increase below:

Customer purchases a property for €250,000, availing of €25,000 from the First Home Scheme (FHS) which means the FHS has a 10% FHS equity share in your home.

Sometime in the future you decide to buy out the FHS equity share. The home is now valued at €350,000. As the FHS equity share is unchanged at 10%, you will now need €35,000 plus any accrued service charges payable, to redeem the FHS equity share in the home.

WARNING: The First Home Scheme is not regulated by the Central Bank of Ireland and the equity product is not governed by the Central Bank and its statutory codes of conduct and/or other regulations to include the Consumer Protection Code. However, this does not affect your rights under consumer law.