What is the Help To Buy Scheme (HTB)

The Help To Buy (HTB) Scheme is a government initiative aimed at helping first time buyers of newly built properties with their deposit to buy or build their new home.

The HTB Scheme is only applicable to properties that are bought or built as the first-time buyer’s home. It is important to note that it does not cover investment properties.

You must take out at a mortgage of at least 70% of the purchase price.

You must be tax compliant.

A further specification is that you must live in the property for at least five years from the date you move in.

Let our experts here at MyMortgages.ie help you get €30,000 towards your new home purchase under the Help To Buy Scheme. (Note: This is based on a new build property for a first time buyer with a purchase price of €300,000.)

How much can I claim under the Help-to-Buy scheme?

The maximum tax refund is now 10% of the value of the property or €30,000 – whichever is LOWER. The rebate is only available on properties valued at €500,000 or less.

This means that if you purchase a property for €300,000, you can claim the maximum rebate of €30,000. But if you buy a house for €400,000, the relief will be capped at €30,000.

Who can apply?

Any first-time buyer of a newly built home can apply for a tax refund under the Help to Buy scheme. In order to qualify as a first-time buyer under the scheme, you must not have previously purchased or built a home yourself or with any other person.

If you’re a joint buyer, and one applicant is a first-time buyer and another applicant is not, you cannot apply for the grant.

When does the Help-to-Buy scheme end?

The extented Help to Buy scheme rate of €30,000 is scheduled to run until 31 December 2021, having been extended in the 2021 Budget.

How do I apply?

You can apply online through Revenue’s MyAccount service. And as long as you are tax compliant, Revenue will provide you with a summary of the maximum refund available to you within around five working days,


Contact info@mortgagebuddy.ie or call (051) 843684 to see if you qualify.

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