More to Qualify – Brendan Smith TD welcomes First Home Scheme Increase to €375k for Cavan and Monaghan

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The €25,000 increase in price ceilings in Cavan and Monaghan will make more homes available for purchase with funding from the Scheme

Fianna Fáil TD for Cavan–Monaghan, Brendan Smith, has welcomed news that Cavan and Monaghan are among 17 local authorities across Ireland to benefit from the extension of the First Home Scheme. The extension, announced following a recent review, will allow more buyers in both counties to benefit from the Scheme.

The First Home Scheme supports first-time buyers in bridging the gap between their mortgage, deposit and the price of a new home, and forms a key part of the Government’s Housing for All strategy.

The changes, which took effect from 1 January, increase the price ceiling in Cavan and Monaghan by €25,000 to €375,000.

Deputy Smith said:

“The decision to raise the ceiling of the First Home Scheme means that more first-time buyers in Cavan and Monaghan can now realistically access home ownership.


From speaking with people currently using the scheme and those who have already benefited, it is clear that this support is genuinely transformational for individuals and families.”

The First Home Scheme is a joint initiative between the State and participating lenders, currently AIB (including EBS and Haven), Bank of Ireland and PTSB, with scope for additional authorised mortgage lenders to join.

Launched in July 2022, the First Home Scheme has, according to its latest progress report, provided over €273 million in support to people purchasing or building their homes.

The purpose of the price ceilings is to ensure that the Scheme can benefit as many people as possible, while avoiding distortion in local housing markets.

The ceilings will continue to be reviewed on a twice-yearly basis, with the next review scheduled for mid-2026.

Deputy Smith concluded:

“I want to acknowledge the work of my colleague, Minister James Browne, in progressing this measure. Fianna Fáil understands the importance of owning your own home and is fully committed to making home ownership more accessible.

There is no single solution, but initiatives like this provide real, practical support for individuals and families across Cavan and Monaghan. I will continue working closely with my colleagues to deliver meaningful results for communities across our counties.”