Who can claim the Help to Buy (HTB) incentive?
To claim HTB, you must:
- be a first-time buyer
- buy or build a new property between 19 July 2016 and 31 December 2021
- live in the property as your main home for five years after you buy or build it
- be tax compliant, if you are self assessed you must also have tax clearance.
To qualify, you must not have previously bought or built a house or apartment, either on your own or jointly with any other person.
If you are buying or building the new property with other people, they must also be first-time buyers.
If you have inherited or been gifted a property it will not affect your eligibility.
You must take out your mortgage on the property with a qualifying lender. This loan must be used only for buying or building the property. The loan must be at least 70% of the purchase value of the property.
The maximum value of house must not be more than €500,000.
The property that you build or buy must be:
- your home
- newly built with the construction subject to Value Added Tax (VAT) in Ireland.
- The property must never have been used, or have been suitable to use, as a residential home
Subject to qualifying conditions
Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie