Help To Buy Scheme Ireland: Your Easy Guide

Looking to buy your first home and want to know about Ireland’s Help To Buy scheme? Then let this be your easy guide. We list what the scheme is, who is eligible for it, and how you can apply.

So why wait? Check out our quick tips below.

What is it?

Picture this: a brand-new home that you can call your own. Now, imagine getting a boost toward that dream through a government-backed initiative. That's exactly what the Irish Help to Buy (HTB) Scheme aims to do.

It provides a tax refund to eligible buyers, helping them with the deposit needed to purchase a new home. 

If you meet the requirements, you’ll be able to receive a refund of Irish Income Tax and Deposit Interest Retention Tax (DIRT) that you paid in Ireland. The tax refund is the Income Tax and DIRT you paid for four years before making your application. It doesn’t include any refunds you claimed already.

The maximum refund available is €30,000. This maximum figure is applicable until 31st December 2025.

Who is it for?

To be eligible for the HTB scheme, you must meet the following criteria:

You need to be a first-time purchaser when you claim HTB.

You need to purchase or self-build the property between 1st January 2017 and 31st December 2025.

The property has to be your main home that you live in for five years after you self-build or buy it.

The property has to be a new build, whether it’s a new house or apartment, or a self-build.

You must be tax compliant and may need to have tax clearance.

You must take out a mortgage on the property with a qualifying lender. The mortgage must be at least 70% of the purchase value of the property or 70% of the approved valuation of your self-build.

If purchasing a property, you need to have signed a purchase contract for it on or after 1st January 2017. For self-builds, you must have drawn down on the first part of the mortgage on or after 1st January 2017.

How can I apply?

You can apply for the HTB scheme through myAccount or Revenue Online Service (ROS). Don't worry, it's a bit of paperwork, but the reward is well worth the effort. There are 3 stages to applying: the application stage, the claim stage, and the verification stage.

Before applying, you need to have either a letter of loan offer or a signed acceptance form. This will act as evidence of your mortgage in the claim stage. 

For more information, check out this page on Revenue.ie. 

For an overview of the HTB scheme and more information you may be looking for, you can visit this page. Be sure to check the official government guidelines or consult with a financial advisor for the most accurate and up-to-date information.

The Irish Help to Buy Scheme is a beacon of support for those embarking on their first homeownership journey. It's a chance to turn your past tax contributions into a stepping stone toward the home of your dreams. 

As you navigate the exciting path to homeownership, remember that knowledge is your best ally. Stay informed, plan wisely, and soon you'll be unlocking the door to your very own piece of Ireland.

How We Can Help You

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