Michael Creed (Cork North West, Fine Gael)
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123. To ask the Minister for Housing, Planning, and Local Government if he will review housing supports available from his Department for first-time buyers of new and second-hand properties in view of the difficulties that existing schemes pose in particular for single persons on modest incomes; and if he will make a statement on the matter. [12115/22]

Peter Burke (Longford-Westmeath, Fine Gael)
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The Housing for All strategy is a multi-faceted approach to step up housing supply and put affordability at the heart of the housing system.

The strategy introduces two new affordable purchase schemes (the Local Authority Affordable Purchase Scheme and the First Home shared equity scheme), as well as an improved Local Authority Home Loan scheme, which are primarily targeted to support First-time Buyers.

The Local Authority Affordable Purchase Scheme will support eligible purchasers of Local Authority-delivered new homes. Regulations setting out the detailed eligibility criteria for the scheme will be issued in the coming weeks.

The First Home shared equity scheme will be available to eligible First-time Buyers purchasing new build homes through the private market. It is anticipated the scheme will be available from the second half of this year.

Both of these schemes can be used in conjunction with the Help-to-Buy incentive which supports First-time Buyers in meeting the deposit requirements for new build and self-build homes.

The new Local Authority Home Loan scheme commenced on 4 January 2022, replacing the Rebuilding Ireland Home Loan, and incorporates more favorable terms for eligible First-time Buyers purchasing new or second-hand homes, or self-builds. The new scheme incorporates a lower interest rate and, specifically for single applicants, has increased income eligibility thresholds from €50,000 to €65,000 in Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow which will support homeownership for single people.