The Irish Independent reported that The First Home shared equity scheme that has €400m funding from the Government, is set to begin in early July.Under the scheme, the purchase of new-build homes is to be jointly funded by the State and participating mortgage lenders.
AIB, Bank of Ireland and Permanent TSB have already signed up to the plan which is expected to cover the purchase of 8,000 new homes over the next four years. Other lenders are expected to follow. Mr O’Brien said he and his officials had been working on the scheme for two years, getting clearance for it from the European Union, the European Central Bank and the Central Bank here.
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