John Lahart
Question:847. Deputy John Lahart asked the Minister for Housing, Local Government and Heritage what schemes are available for shared equity scheme for self builds; and if he will make a statement on the matter. [37589/23]
View answerMonday, 11 September 2023
Questions (847, 848)
John Lahart
Question:848. Deputy John Lahart asked the Minister for Housing, Local Government and Heritage what plans he has to introduce a shared equity scheme for self builds; and if he will make a statement on the matter. [37590/23]
View answerWritten answers
I propose to take Questions Nos. 847 and 848 together.
Consideration is currently being given to expanding the First Home shared equity scheme to include self-builds. At present, the scheme applies nationally to newly built homes in private developments. However, at my request the First Home Scheme Designated Activity Company, run on behalf of scheme participants, is examining the scope to expand the scheme to cover self-build houses.
In the meantime, my department has a range of measures in place to support home ownership, including supports for those wishing to purchase or self-build their own home.
The Help-to-Buy scheme is an incentive for first-time buyers to help with their deposit for purchasing or self-building a new home. The scheme has already helped some 39,000 first-time buyers.
The Local Authority Home Loan is available to those wishing to purchase or self-build. This loan is a government-backed mortgage for first-time buyers or 'Fresh Start' applicants.
The Ready-to-Build scheme also supports those seeking to build their own home. Under the scheme local authorities can make serviced sites in towns and villages available to potential individual purchasers and self-builders, with sites to be provided at a discount on market value for home-owners wishing to build for occupation as their principal private residence.
In this context, I do not believe it necessary at this time to introduce a further grant scheme.
Question No. 848 answered with Question No. 847.