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Help-to-Buy Scheme

Getting onto the property ladder is no mean feat. However, if you are eligible for the Irish Tax and Customs’ Help-to-Buy Scheme, the opportunity to do so is made much easier. At McCarthy + Co, our conveyancing team provide expert guidance to first-time buyers, alongside our highly rated conveyancing services.

Help to Buy Scheme

Expert Legal Guidance Throughout Your Help-to-Buy Scheme Application

Ireland’s Help-to-Buy Scheme is a government initiative designed to assist first-time homebuyers in purchasing a new or self-built property. It offers a refund of income tax and Deposit Interest Retention Tax (DIRT) paid over the previous four years, up to a maximum of €30,000 or 10% of the property’s value. The scheme aims to make home ownership more accessible for younger buyers, addressing challenges in the housing market. Eligibility is subject to certain conditions, including the property’s value and the buyer’s tax status. This financial support is instrumental in reducing the upfront costs of buying a home.

The team at McCarthy + Co offers legal guidance on eligibility for this scheme, ensuring that you are compliant with the scheme’s requirements, and assisting in preparing and submitting necessary documentation. Our solicitors also provide advice on all other legal aspects of purchasing a property, including contracts and property title. Our team has extensive experience in helping first-time buyers realise their ambition of owning a property. With our guidance, we ensure that your house purchase is legally sound and efficient, working to minimise the impact of any potential issues throughout the process.

If you would like to talk to us about how you can utilise the Help-to-Buy Scheme to finance your first property purchase, simply complete our confidential consultation form today. A member of our conveyancing team will call you to arrange your consultation.

Speak to our legal team now about your case. Call us Freephone on:

1800 390 555

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Frequently Asked Questions

Questions we are often asked in relation to buying a property.

  • Am I eligible for the Help-to-Buy Scheme?

    You must pass the following criteria to be eligible for this scheme:

    • You must be a first-time buyer – Applicants must be first-time buyers and have never bought or built a property before, either alone or with someone else.
    • You must purchase a new build home – The scheme applies only to new properties or homes under self-build construction.
    • You must meet the residency requirements – The property must be your main residence for at least five years after it is built or bought.
    • You must arrange the loan requirements – You will need to secure a mortgage of at least 70% of the purchase price from a qualifying lender. This includes banks, building societies, and local authorities.
    • You must be tax compliant – Applicants must be up to date on their income tax and DIRT (Deposit Interest Retention Tax) obligations.
    • You must be aware of the price cap when searching for a property - The scheme is applicable to properties worth up to €500,000, offering a maximum relief of €30,000.

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  • How do I apply for the Help-to-Buy Scheme?

    To apply for the Help to Buy (HTB) Scheme, you first need to complete an online application through Revenue’s myAccount or the Revenue Online Service (ROS). This involves providing details of the property, the amount of refund sought, and other relevant financial information. After approval, the refund, which is a portion of income tax and DIRT paid over the previous four years, is paid directly to the builder or solicitor.

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  • What are the mortgage requirements with Help-to-Buy?

    To be eligible for the scheme, you must secure a mortgage from a recognised lender, covering at least 70% of the property's purchase value or the mortgage provider's approved valuation. The purchase value is typically the price paid for a new build, but if it's less than the market value, the latter is used. For self-built homes, it's based on the valuation at mortgage initiation. This forms the loan-to-value ratio. You can also have a guarantor, such as a parent or close relative, who agrees to cover mortgage payments if necessary. The guarantor's first-time buyer status is not a requirement.

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  • How much is available to me?

    If you are purchasing a new build property, you can claim:

    • 10% of the new build's purchase price, e.g., €20,000 for a €200,000 home.
    • The amount of Income Tax and DIRT you paid in the four years prior to moving.

    For self-built homes, you can claim:

    • 10% of the home's completion value.

    However, to qualify for the Help-to-Buy Scheme, the home's value must be €500,000 or less. The maximum claim from the scheme is capped at €30,000. This means that for homes valued over €300,000, the maximum relief is €30,000.

The Conveyancing Team at McCarthy + Co

About McCarthy + Co

McCarthy + Co. are a team of solicitors with more than 30 years of experience in providing legal advice, guidance and assistance to clients across Ireland.

We are a family-run business with offices in Dublin and Cork, but we have dealt with clients everywhere from Galway and Limerick to Waterford. We are honest, plain-speaking and thorough – we will work alongside you to ensure your property sale or purchase is as efficient as possible.

Our Awards & Accreditations

We are a multi-award winning firm, accredited by the Law Society of Ireland.

Irish Law Awards 2022 - Winner of Excellence & Innovation in Client Services
Irish Law Awards 2022 - Excellence & Innovation in Client Services
Irish Law Awards 2021 - Litigation Law Firm of the Year (Munster)
Q9000 The Legal Quality Standard of Ireland
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