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First time buyer grant

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  • 21-03-2017 11:58pm
    #1
    Here we go
    Registered Users Posts: 286 ✭✭


    Hi just wondering if anyone can advice me on this. About to sign contracts on a house paid holding deposit and have mortgage approval in principal. And help to buy is approved and have other 5%. All great till today when solicitor rings and says I need the full 10% and I can claim back the help to buy myself. But that wasn't my understanding of it as I don't have the full 10% any advise would be appriceated


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    #2
    Here we go
    Registered Users Posts: 286 ✭✭Here we go


    Sorry if this is in the wrong catagory please move if nessesery


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    #3
    caff
    Registered Users Posts: 954 ✭✭✭caff


    What country are you referring to ? There is no first time buyers grant that I am aware of in Ireland. The closest is the help to buy scheme but that just helps you save a deposit and you would already then have the full 10%.
    I think there is a help to buy scheme in the UK where the government give you a loan towards your mortgage for house purchase.


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    #4
    Here we go
    Registered Users Posts: 286 ✭✭Here we go


    caff wrote: »
    What country are you referring to ? There is no first time buyers grant that I am aware of in Ireland. The closest is the help to buy scheme but that just helps you save a deposit and you would already then have the full 10%.
    I think there is a help to buy scheme in the UK where the government give you a loan towards your mortgage for house purchase.

    Sorry it's Ireland house is in Kildare it's the help to buy scheme for first time buyers on new build was brought in the last budget where they will pay 5% of deposit up to 400k if you have paid the required tax in the last 4 tax years


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    #5
    caff
    Registered Users Posts: 954 ✭✭✭caff


    Ah I was thinking of the previous scheme that refunded the dirt if saving for a deposit. Sounds like the solicitor should be handling it from that article http://www.irishtimes.com/business/personal-finance/help-to-buy-scheme-how-does-it-work-and-how-do-i-apply-1.2923413


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    #6
    Here we go
    Registered Users Posts: 286 ✭✭Here we go


    caff wrote: »
    Ah I was thinking of the previous scheme that refunded the dirt if saving for a deposit. Sounds like the solicitor should be handling it from that article http://www.irishtimes.com/business/personal-finance/help-to-buy-scheme-how-does-it-work-and-how-do-i-apply-1.2923413

    Thanks for the reply meeting solicitor Thursday really hope I just need the completed from from revenue and my 5% as I really don't have the 10%


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    #7
    Jofspring
    Registered Users Posts: 4,062 ✭✭✭Jofspring


    Will be looking into it myself soon but I had imagined you would need the 10% saved already yourself and then you would get money back after the purchase of the house/new build. It would be as much to show the bank you can afford it.


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    #8
    Penelope Petra
    Registered Users Posts: 24 ✭Penelope Petra


    I have read up a bit in this as will also be buying/building soon and was also under the impression that you would need to have the full deposit yourself first. The money that you get back is a tax rebate so you need to have paid that amount in tax in Ireland in the previous 4 years.


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