Help To Buy Scheme 2020-06-19
Please note the closing date for the applications for the HTB is 31 December 2021.
The Help to Buy Scheme or First Time Buyers Grant is designed to assist first time buyers to get the deposit required to purchase/build a new home. The incentive provides for a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid over the previous four tax years to first time buyers.
Help to Buy Scheme
The enhanced levels of support in the Help to Buy incentive will see the maximum possible refund increase by €10,000 to €30,000 or 10% of the cost of the new home (up from 5%). This increase will be available to qualifying first time-buyers who buy or build a new property until 31 December 2020, with the level of relief reverting to pre-23 July 2020 levels from 1 January 2021.
PRE-23 JULY LEVELS -The maximum relief is 5% of the purchase price up to a maximum of €20,000, and is available to first time buyers who buy a residential property/build your first home before 31 December 2021.
You can apply for the HTB scheme if you are an eligible first-time buyer/building your first home and are a PAYE taxpayer.
In order to apply online you will need:
- Names & details of each applicant
- Evidence of mortgage approval including name & address of lending institution
- Purchase price or completion date of property
- Deposit amount payable
- Loan application number