Wednesday, 15 September 2021
Department of Housing, Planning, and Local Government
319. To ask the Minister for Housing, Planning, and Local Government when he will publish the details of the shared equity scheme for first-time buyers; and if he will make a statement on the matter. [43511/21]
The Affordable Housing Bill 2021, the first ever standalone affordable housing legislation, was signed into law by the President on 21 July 2021.
On 2 September 2021 I signed the Affordable Housing Act 2021 (Commencement of Certain Provisions) Order 2021, which commenced Part 2 (other than subsections (2)(c), (6), and (7) of section 6) and Parts 4, 6, 7, and 8 of the Act from 3 September.
Part 4 of the Act provides the basis for the establishment of the 'First Home' (shared equity) scheme which is to be operated and administered by a newly established special purpose vehicle (SPV). It also provides that I, as Minister, may agree the terms by which the equity support may be provided covering, inter alia, areas such as purchaser eligibility and financial means, the homes that may be considered eligible under the scheme, and the amount of funding that can be provided.
Work on the detailed design and operation of the scheme is advancing and the Government's recently published Housing For All Plan confirms the intention to introduce the First Home Scheme in Q1 2022.