More people may be able to benefit from a government scheme for first-time house buyers in Kerry.
It’s after the property price ceiling in the First Home Scheme has increased in Kerry from €325,000 to €350,000.
The First Home Scheme is a joint initiative between the government and several mortgage providers in Ireland.
It aims to bridge the gap for first-time buyers who have mortgage approval from one of these providers and a deposit, but there’s still a shortfall between those and the price of a property.
The home buyer or buyers can get to up 30% of the value of a house, or 20% if they’re also using the Help to Buy Scheme.
The First Home Scheme is an equity scheme rather than a loan.
The price ceiling for houses, apartments, or self-build units has now increased for Kerry by €25,000 up to €350,000.
It follows a scheduled mid-year review of property price ceilings by the First Home Scheme.
This means that properties valued at €350,000 or less in Kerry are now eligible to be included in the scheme.
Price ceilings were also increased in 13 other Local Authority areas.
