Help to Buy Scheme

The Help To Buy incentive is a Government tax refund scheme, designed to help first-time buyers get the deposit needed to buy a newly built home.

Borrowers can claim a maximum of 10% of the value of the property or €30,000 – whichever is lower.

The Help-to-Buy incentive, also known as the Help-to-Buy scheme, is a Government tax refund scheme designed to help first-time buyers get the deposit needed to buy a newly built home.

The Help-to-Buy incentive, which came into effect in January 2017, is designed to help first-time buyers acquire the deposit necessary to buy a newly built home. Another goal of the scheme is to incentivise developers to build more houses and apartments.

First-time buyers can currently claim a tax rebate of up to €30,000 towards the price of a new-build or self-build house or apartment. This is up from €20,000 when the scheme first came into effect.

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

The maximum tax refund is 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. And if you buy a home that’s over €500,000 you’ll get no relief.

Eligibility Criteria:
  • Must be a first-time purchaser at the time of the claim.
  • Must live in the property as your main home for five years after you purchase or self-build it.
  • Must be tax compliant. If you are self-assessed, you must also have tax clearance.
  • Must take out a mortgage on the property with a qualifying lender. The mortgage must be at least 70% of the purchase value of the property, or approved valuation in the case of a self-build.
Do I have to live in the property?

Yes, you must use the property as your principal private residence for a period of five years. If you don’t comply with this rule, Revenue reserves the right to claw back the refund.

Approved Developers & Contractors

The contractor you are purchasing your home from must be approved by Revenue. You can check the list of approved developers and contractors to ensure that your developer or contractor is approved.

If you are self-building, you do not need to use a Revenue approved contractor. However, you will require a solicitor (registered with Revenue as a ‘HTB approver’) to verify your Help To Buy claim. 

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