VIDEO: Big budget package to assist first-time home buyers

The Government is finalising a major budget package to help struggling first-time home buyers.

Housing Minister Simon Coveney confirmed yesterday the “significant initiative”, due to be announced by Finance Minister Michael Noonan on budget day, will help bridge the gap between soaring property prices and what first-time homebuyers can afford to borrow.

The so-called help-to-buy scheme is expected to include upfront tax repayments which could be worth up to €10,000 to couples.