Help To Buy Scheme
So what is involved in 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. It allows first time buyers to claim a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid over the previous four tax years.
- The home has to be a newly built or self-build.
- The maximum relief is 5% of the purchase price up to a maximum of €20,000, and is available to first time buyers.
- You must live in the property for five years after you buy it or build it.
- The mortgage you take out must be for at least 70% of the purchase price of the property.
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