What is the Help to Buy Scheme?
The Help to Buy Scheme was introduced in July 2016 to help
first-time buyers buy or self-build a new residential property. The
Help to Buy Scheme allows first time buyers to claim a refund of
income tax and DIRT paid over the previous 4 tax years and to use
this refund as part of the deposit for the purchase of a newly
built residential property.
What change has been introduced?
The July Jobs Stimulus Package increased the amount first time
buyers can claim under the Help to Buy Scheme from 5% of the
purchase price (up to a maximum of €20,000) to 10% of the
purchase price (up to a maximum of €30,000). If the property
is a self-build, the amount will be 10% (up to a maximum of
€30,000) of the completion value of the property. First time
buyers who sign a Contract for the purchase or a new house or
apartment or make the first draw down of their mortgage in case of
a self-build between 23 July 2020 and 31 December 2020 are
