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The First Home Scheme for first time buyers of property in Ireland-the essentials

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The First Home Scheme for first time buyers of property in Ireland-the essentials
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Опубликовано:

10 ноя 2022

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Комментарии : 29

@tjdettvilour Год назад

I am a fan! Thank you for always sharing such helpful info. If I ever buy a home, I already know who I want my solisitor to be!

@oisinmccormack4973 4 месяца назад

Great channel terry! Helping many including my self

@buzzcagney8957 Год назад

@06:00 What is an equity stake? "The buyer will be able to buy out the equity stake of the first home scheme or the scheme will be repaid when the property is sold. So the buyer of the property can buy out the equity stake of the first home scheme in the property or can wait and pay off the first home scheme when the property is sold"

@desquinn3834 Год назад

My understanding is the scheme is given on the basis that the government own a stake in the property based on the market value, you will be obligated to pay the scheme money back if you plan to sell the property at some point in the future, but you also have an option to buy out the government stake over the life of the mortgage, I think that is what Terry was referring to in relation to the additional % that is required to be paid at different intervals of the mortgage,

@terrygorry Год назад

Broadly, you have it right. The % to be paid from year six is analogous to an interest rate which is used by the First Home Scheme company to administer the scheme etc.

@terrygorry Год назад

The buyer can buy out the equity stake at any time, or can pay it out of the sales proceeds when the property is sold.

@buzzcagney8957 Год назад

@@desquinn3834 thanking you

@buzzcagney8957 Год назад

@@terrygorry Thanking you for these informative videos 👍

@MrLaurence8 Год назад

looking forward to your advice Terry👍🏽

@IndianTapri 6 месяцев назад

Cute Watch Sir.

@el-savage2004 Год назад

No hope for single people in Ireland

@lordjim3109 Год назад

Does it have any positive impact on the housing crisis in Ireland? Are there any stats available?

@coconuts1249 Год назад

I learned something new! Thank you. Can you rent out a room in your house if you avail this?

@terrygorry Год назад

Don't see any problem with that, but check the website of the First Home Scheme. They have a FAQ. But I do not see a problem.

@coconuts1249 Год назад

@@terrygorry thank you Terry I appreciate the information you provide us here. I didn’t see any clause against it. Would be helpful for a single first time buyer to have some help to start with

@kicharan 4 месяца назад

Does the scheme work for non-citizens buying? I am from the USA. Thanks Terry!

@terrygorry 4 месяца назад

Not 100%, to be honest. But I think so👍

@JustinaN-14kB90 Год назад

Can you merge help to buy scheme plus first home Scheme?

@terrygorry Год назад

You can get both, if that is what you are asking

@baneemwan Год назад

I have 3 year 45k earning , how much my limit of buy property? thank u

@robovac3557 5 месяцев назад

A bank will loan you 45 x 3.5 =157.5

@Djf557 Год назад

Does a newly built self build property qualify for this scheme?

@Tomtech29 Год назад

Hi, I am also looking for information on this subject, have you received an answer yet? Because I have the opposite situation, I am in the process of buying a house, but it is a second-hand house and the rules mentioned here have the impression that they only apply to new houses, is that true?

@dorelgradinaru1762 Год назад

Smart government. Why drop the house prices when you can give the people more debt on their shoulders. In 5 years will be another government coming to power and it will be their problem.

@darrenanthonykk Год назад

Terry when are you going to talk about an bunreacht full 63 article? this is irish law for irish men and women, eiRe is a soverighn,independent,democractic State with our own an bunreact that has been hidden from the men and women of this island for far to long and now is the time to reignite the irish flame and spirit, there is a movement happening that no body can stop, an bunreact go duo, please contact me to speak a little more, dont let our history and heritage be destroyed, please help us and get on board

@browningmaxus5360 10 месяцев назад

Is this only available for newly built houses?

@terrygorry 10 месяцев назад

To be eligible for the Scheme the property you are purchasing must: be a newly built house or apartment OR be the house or apartment you are currently renting and residing in and are now looking to purchase it having received a Notice of Termination from your landlord, as the landlord is putting the property on the market www.firsthomescheme.ie/faqs/rules-and-eligibility/