The Help to Buy Scheme

The Help to Buy Scheme

The Help to Buy Scheme in Ireland is a government initiative designed to assist first-time buyers in purchasing a new home. The program provides a tax rebate to eligible applicants, which can be used to boost their deposit or reduce their mortgage.

Who can claim?

To claim The Help to Buy Scheme, you must:

  • be a first-time purchaser at the time of the claim
  • purchase a qualifying property
  • live in the property as your main home for five years after you purchase it
  • be tax compliant. If you are self-assessed, you must also have tax clearance
  • 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

How much can you claim?

You are eligible for increased relief under the enhanced HTB scheme if, during the period from 23 July 2020 to 31 December 2024, you sign a contract for the purchase of a qualifying property.

The amount that you can claim is the lesser of:

  • €30,000
  • 10% of the purchase value of a new home
  • the amount of Income Tax (IT) and Deposit Interest Retention Tax (DIRT) you have paid for the four years prior to your application.

The maximum payment is €30,000 per qualifying property under the enhanced relief. This cap applies regardless of how many people enter into a contract to purchase the qualifying property.

How to apply

There are 3 stages to the application process: application stage, claim stage and verification stage.

1. Application stage

You can apply as an individual or part of a group.

Use Revenue myAccount or ROS to apply and complete the declaration.
If you are tax compliant, your application will be approved and you will be given:

– an Application Number
– a Summary of the maximum amount you can claim
– an Access Code

2. Claim Stage

Step 1 – Evidence

In this step you will have to upload evidence of your mortgage with a signed and dated contract to purchase the property.

Step 2 – Confirm details

In this step you will need to confirm the details of the following:

– Property
– Purchase Value
– Date of completion
– Mortgage
– Amount of deposit paid

Once you have submitted your claim you will be provided with a Claim Number

3. Verification Stage

The information you have provided will have to be verified by David Walsh Homes Ltd.

When you have submitted your claim, advise your eligible verifier and provide them with your:

Claim Number (issued after the claim stage) and Access Code (issued when your application was approved).

The maximum payment is €30,000 per qualifying property under the enhanced relief. This cap applies regardless of how many people enter into a contract to purchase the qualifying property.