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The scheme is open to first-time buyers of newly built houses and apartments. Alamy Stock Photo

Government's €400 million shared equity scheme for first-time buyers now open for applications

The scheme aims to help people secure a home by providing part of the purchase price of the dwelling in return for a minority equity stake.

A €400 MILLION scheme to help first-time buyers afford newly built homes has opened for applications.

The ‘First Home’ shared equity scheme is one of the key pillars in the government’s Housing for All plan.

It aims to help people secure a home by providing part of the purchase price of the dwelling in return for a minority equity stake.

The maximum stake the scheme will take is 20%, if the buyer is also availing of the Government’s separate Help to Buy scheme, and 30% if Help to Buy is not used.

The equity stake is free for the first five years followed by a cheap interest rate thereafter.

The scheme is open to first-time buyers of newly built houses and apartments in private developments anywhere in Ireland.

It is planned that the €400 million scheme will facilitate the purchase of up to 8,000 homes over a five-year period.

To secure the funding applicants will have to borrow the maximum mortgage amount available to them from the participating lenders.

The scheme is currently open to customers of AIB, including their EBS and Haven mortgage businesses, Bank of Ireland and Permanent TSB. Other mortgage providers may join up in the coming months.

The Central Bank cleared the way for banks to take part in the scheme last November but warned that, in the short term, the plan could increase house prices.

Sinn Féin has also been critical of the scheme, also saying it would lead to rising house prices. It previously tabled motions calling for the scheme to be scrapped.

Housing minister Darragh O’Brien said the scheme will “literally open the door for many first-time buyers.”

“This scheme we are launching today will support first-time buyers and those seeking a fresh start by helping to bridge the gap between what they can afford and the price of the home they wish to purchase.

“It will make new homes more affordable and easier to access for first-time buyers, helping them get their foot on that crucial first rung of the property ladder. It will encourage the increased development of new build homes.

“This Government is working to give young and not so young people a real chance to buy their own home. Today’s announcement is another step in that direction,” O’Brien concluded.

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16 Comments
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    Install the app to use these features.
    Mute Tweety McTweeter
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    Jul 28th 2015, 8:44 PM

    Does it have Solitaire and Paint?

    232
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    Mute Stefan Epure
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    Jul 28th 2015, 8:53 PM

    PINBALL ALL THE WAY

    90
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    Mute Kane Abel
    Favourite Kane Abel
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    Jul 28th 2015, 8:35 PM

    I’ll be staying on Windows 7 until I know for sure this release isn’t another absolute horror show along the lines of Windows ME or Windows 8…..

    118
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    Mute Romeo Sensini
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    Jul 28th 2015, 8:40 PM

    Had windows ME at a stage. *shudder*

    70
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    Mute Reg
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    Jul 28th 2015, 9:29 PM

    You forgot Vista!

    91
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    Mute Chris Judge
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    Jul 28th 2015, 10:18 PM

    Reg, it’s best kept that way.

    48
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    Mute Fozz
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    Jul 29th 2015, 9:44 AM

    Kane, all the talk is positive which cannot be said for what the word on the street was prior to the W8 release.
    I think you can rest easy here and go to W10 with no great worries. Sure, there will be new places to find stuff but overall once you adapt you will be delighted I would expect.

    10
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    Mute Dietrich Död
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    Jul 29th 2015, 11:27 AM

    I’ve been using the preview for a month and it’s very stable, definitely the best version of Windows so far.

    6
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    Mute OU812
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    Jul 28th 2015, 10:18 PM

    I bet it’s not a patch on Windows 9. That was the most perfect version they had.

    43
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    Mute Blackwater
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    Jul 28th 2015, 8:55 PM

    Once you’ve Mac you won’t go back to Windows

    41
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    Mute Conor Power
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    Jul 28th 2015, 9:43 PM

    I’ve a Macbook air and run windows on it. OS X is like a fisher price os.

    120
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    Mute OU812
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    Jul 28th 2015, 10:17 PM

    Windows runs particularly well on a mac. I’ve got it running on two of them, never had an issue.

    31
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    Mute Scorpionvenomm
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    Jul 29th 2015, 12:42 AM

    What a stupid comment

    24
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    Mute Meehawwl O'Buachailla
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    Jul 29th 2015, 2:01 AM

    I have 2 Mac devices and 2 Windows devices. I use them for different requirements. That’s it really. Sticking yourself to one brand of anything doesn’t make any sense.

    37
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    Mute Keith Michael Gregg
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    Jul 29th 2015, 10:53 AM

    osx used to be great. but since Tim Cook took over its gone to ruin. Jony I’ve has a lot to answer for too. #itallwentdownhillaftermountainlion

    5
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    Mute Guy Incognito
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    Jul 29th 2015, 11:14 AM

    I love my Macbook, running whatever the latest OSX build is (Yosemite? El Capitain? Can’t remember).

    I love my PC, updating to WIndows 10 as we speak.

    I love my linux RPi retro gaming box.

    Squabbling over which OS is better is literally for children.

    13
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    Mute Get Lost Eircodes
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    Jul 29th 2015, 8:32 PM

    Went to Mac and came running back. Was like trying to write with my left hand… no thanks.

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    Mute Mac Ready
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    Jul 28th 2015, 9:11 PM

    Yeah I’ll be taken the jump to windows 10. Never had an issue with Windows 8.1 but tried an early beta on an old desktop and it looked great.

    33
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    Mute Aaron O Connor
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    Jul 28th 2015, 9:01 PM

    Looking forward to this and the xbox UI together. Now if the allow me

    31
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    Mute Aaron O Connor
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    Jul 28th 2015, 9:09 PM

    something is wrong with this page..eating all my RAM on the phone. think its the ad at the bottom.

    60
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    Mute Mark Gerard Lochlain
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    Jul 28th 2015, 9:22 PM

    Is this for Microsoft surface pro by any chance?

    26
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    Mute Dylan Nutty ✌️
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    Jul 28th 2015, 9:37 PM

    Yes :D

    16
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    Mute Rehabmeerkat
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    Jul 28th 2015, 9:38 PM

    ýeah it’s for everything. pcs, tablets and phones

    23
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    Mute David Corrigan
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    Jul 28th 2015, 9:05 PM

    Don’t upgrade unless you’ve checked with the vendor of your line of business software. (Domain workstations probably won’t have the option to upgrade anyway)

    23
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    Mute Barney r
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    Jul 28th 2015, 8:41 PM

    Ill take a guess and say its like all others, dreadful for 6 months until users who pay for it are asked to fix it by reporting faults then testing patches again. When stable the test is when business choose to use it, most likely after 5 years from release date. Ill go back to DOS

    17
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    Mute Fozz
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    Jul 29th 2015, 9:47 AM

    Why take guesses when there’s real-world trusted reviews out there and opinions from actual users aplenty?
    Guess away but it won’t get you anywhere good.

    20
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    Mute Irish girl
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    Jul 29th 2015, 10:00 AM

    I’m not too keen on the flat look, think I’ll stick to windows 7 for a while.

    9
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    Mute .
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    Jul 29th 2015, 10:39 AM

    how will Microsoft make money on Windows 10 Heard after a year free it becomes an annual subscription service

    6
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    Mute Dave Meagher
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    Jul 29th 2015, 11:01 AM

    Not true , it will only be free for 12 months after that the upgrade will be 100€, but if you get it within the first 122 months you pay zip ever.

    ” there will be no additional fees attached to Windows 10″

    Terry Myerson
    Microsoft’s Executive Vice President of the Windows and Devices Group

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    Mute Dave Meagher
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    Jul 29th 2015, 11:01 AM

    12 mths

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    Mute Martin J Gilbert
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    Jul 29th 2015, 11:29 AM

    They plan to make money on services – subscriptions to Office, upgrading the data storage on OneDrive and various other ancillary, optional upgrades – from businesses and from Windows licenses on new PCs.
    When you look at Microsoft’s revenues, the income from consumer purchases of Windows is actually reasonably small – they make money from their cloud service platform, Office sales/subscriptions, business (primarily), various workstation services and platforms they provide etc.
    So using Windows as a permanent “loss leader” to get people involved in the various Microsoft services makes a lot of sense.

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    Mute SCO Electrical
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    Jul 29th 2015, 8:52 AM

    stick with Ubuntu

    8
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    Mute helixjo1
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    Jul 29th 2015, 9:19 AM

    Yeah a little ubuntu partition or vm is always nice, but the UI is pretty horrible these days.

    8
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    Mute Tom Colgan
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    Jul 28th 2015, 11:38 PM

    I have the windows 10 insider pro preview, how do I update?

    5
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    Mute little jim
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    Jul 29th 2015, 9:05 AM

    Never mind, sounds like you received it by mistake.

    24
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    Mute Tom Colgan
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    Jul 29th 2015, 11:01 AM

    actually Windows 10 was downloadable for everyone to try direct from the Microsoft site!
    so you obviously didn’t know that before you commented

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    Mute Guy Incognito
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    Jul 29th 2015, 11:12 AM

    You probably shouldn’t be running the preview build if your first instinct is to ask random people on TheJournal.ie how to update to retail…

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    Mute Tom Colgan
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    Jul 29th 2015, 11:15 AM

    Well maybe some random person will have the same as me and be able to tell me how to update it. Not a big deal Guy, cant even ask questions anymore without been shot down

    4
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    Mute Guy Incognito
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    Jul 29th 2015, 11:32 AM

    I’m not saying it’s a silly question, I’m saying that if this article is your first port of call for an answer I’d be worried. Preview builds are meant for people who know what they’re doing, who need to test specific things, generally not for use as a primary OS (no matter how polished they may be).

    My point is that you shouldn’t be installing preview operating systems if your hopes for answers on what is a fairly specific technical issue lie with ‘some random person’. In any case, this info has been available for a while: http://gadgets.ndtv.com/laptops/news/microsoft-clarifies-how-windows-10-preview-users-can-keep-genuine-builds-for-free-706875

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    Mute Ava Johnson
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    Aug 13th 2016, 4:04 PM

    Now Microsoft has released Windows 10 Anniversary update for general public, August 2nd 2016 onward. This update is the second big update since release of Windows 10. This Anniversary update will automatically downloaded in your device if you’ve set automatic update downloads. If you haven’t updated yet follow these steps to upgrade your device immediately. Visit http://windowshub.online/windows-10-anniversary-update/ for more updates or learn how to download Windows 10 anniversary update.

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    Mute Joey Gee
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    Jul 29th 2015, 3:57 PM

    Was using Windows 10 beta and it crashed everything, I will upgrade from the 8.1 I’m presently using as it’s dreadful for crumblies like me.

    1
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    Mute Ava Johnson
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    Aug 13th 2016, 4:00 PM

    Now Microsoft has released Windows 10 Anniversary update for general public from August 2nd 2016. This Windows update is the second big update since release of Windows 10. This Anniversary update will automatically downloaded in your device if you’ve set automatic update downloads. If you haven’t updated yet follow these steps to upgrade your device immediately. For more details on How to Download or install Windows 10 anniversary update visit here: http://windowshub.online/windows-10-anniversary-update/

    1
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