Cardinal Health employees outside the plant last August as details emerged that it planned to cease operations in Tullamore
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26 Mar 2026
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26 Mar 2026
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The scheme is targeted at first-time buyers who are seeking to buy a new home but who cannot secure the full amount required
The strong interest in the First Home Scheme continues with over 15,300 registering their interest in the Scheme and 6,700 buyers have been approved for the Scheme since it was launched.
It was announced on Tuesday that the Government has extended the First Home Scheme to June 2027, in addition to committing a further €30-million to the scheme.
Welcoming this news, North Tipperary TD, Deputy Michael Lowry said that the First Home Scheme, which was launched in July 2022, is a Shared Equity Scheme.
It is designed to help bridge the gap for eligible first-time buyers, eligible homebuyers and self-builders, between their deposit and mortgage, and the price of their new home. Price ceilings have been established across the country.
Use of the Scheme amongst first-time buyers increased significantly in Q1 2025 as reflected in the number of new applications to the scheme (859 up 49% on Q4 2024) and approvals (727 up 51% on Q4 2024).
In total, 15,300 have registered their interest in the Scheme and 6,700 buyers have been approved since the Scheme was launched.
For many young people, and indeed those of all ages, this Scheme has been essential in bridging the gap between the mortgage available, their deposit, and the price of a home.
The initiative has been a key support for First Time Buyers, with over 6,700 applicants approved for funding since it launched. The Scheme has succeeded in responding to affordable housing needs in every county across the country to date, and has allowed so many to gain the keys to a permanent home.
This additional funding will enable more people to open the door to their new home - providing certainty both to people who are looking to buy a home and to the housing sector. The funding will allow the Scheme to operate until at least June 2027 so that it is sufficiently resourced.
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The First Home Scheme is available to first-time buyers, or those making a fresh start, who have mortgage approval with a participating lender.
The additional €30m funding will bring the total State commitment to the Scheme to €370 million. This will be matched 50:50 by the participating banks, and will bring the total commitment to the scheme to €740-million.
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