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New housing scheme will benefit first-time buyers

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By Ted Healy of DNG TED HEALY

This week Housing Minister Darragh O'Brien announced a new landmark affordable housing scheme which will benefit thousands of middle income home buyers.

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The First Home Shared Equity Scheme, set to be rolled out from early July with €400m funding from the Government, is designed to bridge the gap for those whose income is too low to get them a big enough mortgage to buy their first home.

The three main banks have signed up to the scheme which will see the State providing an interest-free stake of up to 30 percent in the home.

It is expected to cover the purchase of eight thousand new homes over the next four years.

Under the scheme, the purchase of new-build homes is to be jointly funded by the State and participating mortgage lenders.

AIB, Bank of Ireland and Permanent TSB are on board with the scheme, and other lenders are expected to sign up.

The flagship First Homes Scheme in the Government’s 'Housing For All' strategy, will have no income limits for those who apply for it.

However, there are limits on the value of properties that will qualify for the scheme in each local authority area. The limits will be based on the median value for a new home in the area.

The new scheme is set to be welcomed by those who are earning too much to qualify for social housing, but too little to qualify for a mortgage in a property market where values are back close to Celtic Tiger peaks.
It will help bridge the gap between the finance they have and the finance they need to purchase their first home. It will make a difference quickly.

As an example, a couple with an income of €70,000, who want to buy a €320,000 new home, will put up a 10 percent deposit, the most they can borrow is €277,000. This leaves a gap of €43,000.

First Home would provide this amount as equity, with no interest for the first five years.
This couple could also benefit from the State’s Help-To-Buy scheme, which usually provides tax relief of up to 20 percent of the property’s value.

The scheme will apply to first-time buyers, but also to divorced people and those who have been made bankrupt.

Further details of the scheme are available on www.gov.ie.

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Marie was “lovely, unassuming lady”

By Sean Moriarty Tributes have been paid to Marie Murphy of Aughacureen, who died in tragic circumstances on November 30. Marie was a member of the well known Murphy business […]

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By Sean Moriarty

Tributes have been paid to Marie Murphy of Aughacureen, who died in tragic circumstances on November 30.

Marie was a member of the well known Murphy business family in Killarney – her brother runs KWD Recycling and she was heavily involved in the business.

She was best known for involvement in the local GAA both as a county star and a member of Fossa GAA Club.

She was a third generation Kerry footballer, her grandfather Con and father John all played football for Kerry.

She was extremely proud of her niece Abbie, her brother Seán’s daughter, when she became the fourth generation Murphy to play for Kerry.

Marie played for Kerry in 1976 and re-joined Fossa GAA Club in 2010 when the ladies’ side of the club was re-formed.

She acted as a mentor for current group of ladies.

Back in 2019 when Fossa GAA Club published a book to mark its 50th anniversary she was one of the leading lights on that committee.

This year, when the club held its Night of Legends to raise funds for a new dressing room for the ladies’ club, Marie was one of the guests of honour at the INEC event and was interviewed on the stage in front of a capacity audience.

Only a few weeks ago she was one of the many club members who helped organise the Fossa Golf Classic and acted as official photographer for that event.

“The club is numb with sadness,” said Fossa GAA chairman Dermot Clifford. “She was a loyal member and very proud of the club. Our thoughts are with her family. A lovely, unassuming lady who will be sorely missed.”

Marie will be sadly missed by her brothers Con, Seamus and Seán, sisters-in-law Breda, Gennie and Anna, her nieces Shauna, Amy, Kate and Abigail, nephews John, Jack, Luke, aunties Mairead and Maura, cousins, relatives, neighbours and a large circle of friends.

She was laid to rest at Old Aghadoe Cemetery on Monday following Requiem Mass at The Prince of Peace Church, Fossa.

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Kerry Airport to get almost €1.5m funding

Kerry Airport is in line for nearly €1.5m in funding under the Regional Airports Programme 2021-2025. All five regional airports in the country will share a total of €21,100,051 released […]

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Kerry Airport is in line for nearly €1.5m in funding under the Regional Airports Programme 2021-2025.

All five regional airports in the country will share a total of €21,100,051 released under the scheme.

Kerry Airport will get €1,434,355 to put towards vital safety operations like air traffic control, fire services and security.

The CEO of Kerry Airport, John Mulhern, welcomed the funding.

“We are grateful to Minister Naughton, the Department of Transport and Kerry’s two Government TDs, Minister Norma Foley and Deputy Brendan Griffin for their continued support,” he said.

“The funding will help to ensure that Kerry Airport remains compliant with regulatory requirements in key areas, such as air traffic control, fire services and security.”

Funding this year for airports will total over €37 million building on the €161 million provided in unprecedented aviation supports during 2021.

“I welcome this funding which will deliver further vital financial supports to Kerry Airport with a particular focus on safety, security operations and air traffic control,” Minister Foley said.

“This funding reinforces the importance and value that Government places on the vital role of our regional airports and how connectivity directly supports tourism and enterprise in Kerry.”

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