Help to Buy (HTB) scheme

The Help to Buy (HTB) scheme is a government initiative designed to assist first-time homebuyers with purchasing a new property. It offers financial support in the form of a tax rebate to help cover the deposit on a new home.

Eligibility:

• First-time buyers only.
• Must be purchasing a newly built home.
• The property must be used as your main home for five years after you buy or build it.
• You will need to be tax compliant and if you are self assessed you must have tax clearance.

Financials:

• The rebate is a tax refund based on Income Tax and Deposit Interest Retention Tax (DIRT) that you paid over the previous four years.
• The maximum rebate is €30,000 or 5% of the purchase price, whichever is lower.
• The mortgage amount must be at least 70% of the Loan to Value so for example, if the house is €300,000, the mortgage amount needs to be at least €210,000.

Property Value Limits:

The scheme applies to homes purchased within a certain price range, which varies depending on the location (e.g., €500,000 for Dublin and major urban areas, or lower in rural areas).

Application Process:

You can apply by using revenue’s my account service which you can find by clicking here. You will complete a declaration and select the years you want to use for a refund. Once your application is approved, you will be provided with an application number and information on the amount of refund that is available to you. You will also be given an access code separately. The application number and access code will be shown to the lender to verify your help to buy relief.