Help to Buy Scheme

revoke12

Hi Everyone,

Looking at a self build this year just wondering whats the story with the Help to buy scheme what roughly is given back? Is it when the build is Finished? Any info appreciated or someone who has claimed it?

Thanks in advance,

Faiche Ro

You will receive 5% of the cost of the house - up to a max of 20K. (*for any house under 500K - this important for self build - when the valuation is done by the bank they will include the value of the site)

This is a tax refund run by the revenue so you must have paid enough tax in Ireland in the last 4 years to cover the amount you are are claiming.

You can claim this on your own or combined with a partner if its a joint mortgage application. the 20K limit doesn't change for a joint application but it may help if one person hasn't paid enough tax to cover the refund.

To apply you need planning permission approved, a mortgage offer letter, a valuation completed by the bank.

Before the money will be issued to your account the revenue look for evidence of mortgage draw down so you send in the first stage receipt you get from the bank.

this is all completed online on the revenue website.

let me know if you have any more questions

revoke12

Wow - thanks so much for all the information. Very much appreciated.

I will check it out your info was very informative so i will take a look at everything above.

islander35

Hi does anyone know how the increased Help to Buy allowance might work for new builds? It would have made up 5% of the deposit but can now be up to 10% of the house value.

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There’s a huge thread in the Accommodation forum about it