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Government schemes for FTB'ers - Help

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  • 25-01-2021 5:47pm
    #1
    JMR
    Registered Users Posts: 633 ✭✭✭


    Hoping someone can clarify for me, the various options available to FTB'ers currently.

    Aside from the standard lenders and the rules that exist around multiples of salary and percentage deposit required, I have heard a lot about different government schemes etc that may be available to those less able to afford a 'standard' mortgage but can't quite get clarity.

    Apologies if this is a basic question but it's a long time since I borrowed and need info to help my son and his wife as they start to navigate the market!

    What I think I know:

    Help to Buy Scheme
    House must be a new build
    5% of deposit can be reclaimed via tax paid in the previous 4 years

    Shared Equity Scheme
    State owns 30% of the home
    Originally only applied to new builds but has now been extended to 2nd hand??

    Can anybody please correct the above if I have it wrong or add to the above list with other restrictions around the schemes?

    Thanks


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