Help to buy scheme

Who can claim the Help to Buy (HTB) incentive?

To claim HTB, you must:

1. be a first-time buyer
2. buy or build a new property between 19 July 2016 and 31 December 2021
3. live in the property as your main home for five years after you buy or build it
4. 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:

1. your home
2. newly built with the construction subject to Value Added Tax (VAT) in Ireland.
3. 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