First Time Buyers' Initiative

First Time Buyers' Initiative (FTBI)

The First Time Buyers’ Initiative (FTBI) enables first time buyers to access up to 50% of the purchase price of a newly built from a designated FTBI development in the form of a Government supported loan. For the first three years of FTBI home ownership there is nothing to pay on the amount the Government contributed.

After three years you will pay 1% per annum on the Government contribution. This fee will increase each year by a fixed percentage reaching 3% after five years.

When you sell the property you repay the percentage the government funded.

You also have the option of repaying the loan in instalments of 10% at any time.

FTBI is now in it’s closing stages and will ultimately be replaced by the HomeBuy Direct product