Can I claim the Help to Buy Scheme?
To claim HTB, you must:
• be a first-time purchaser at the time of the claim
• purchase, or self-build, a qualifying property between 1 January 2017 and 31 December 2022
• live in the property as your main home for five years after you purchase or self-build 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:
o purchase value of the property OR
o approved valuation, in the case of a self-build.
To qualify, you must not have previously purchased or built a house or apartment, either on your own or jointly with any other person. If you are purchasing or self-building the new property with other people, all of them must be first-time purchasers. If you have inherited, or have been gifted, a property, depending on the circumstances, it may not affect your eligibility.
Does my property qualify for Help to Buy?
To qualify for HTB, the property that you purchase or self-build must be:
• your home
• newly built with the construction subject to Value Added Tax (VAT) in Ireland.
The property must never have been used, or have been suitable for use, as a residential home. If the property was non-residential, but has been converted for residential use, it may qualify for HTB. If you purchase or self-build the property as an investment, it does not qualify for HTB.
Purchase Value: The value of the property must be €500,000 or less to qualify for HTB.
Approved Valuation: If you are self-building a property, the approved valuation is the valuation of the property approved by the lender at the time you took out the mortgage. The approved valuation must be €500,000 or less to qualify for HTB.
Mortgage: You must take out your mortgage on the property with a qualifying lender. This loan must only be used for purchasing, or self-building, the property. The loan must be at least:
• 70% of the purchase value OR
• 70% of the approved valuation.
How much can I claim?
Enhanced HTB scheme:
The amount that you can claim is the lesser of:
• €30,000
• 10% of the purchase value of a new home or of the approved valuation of the property, in the case of self-builds
• 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.
Original HTB scheme:
The amount that you can claim is the lesser of:
• €20,000
• 5% of the purchase value or approved valuation
• the amount of IT and DIRT you have paid for the four years prior to when you make your application.
The maximum payment is €20,000. This cap applies regardless of how many people enter a contract to purchase the qualifying property.
How can I apply?
Application Stage:
• Ensure you are tax compliant
• Apply via www.ros.ie
• You will be given: an Application Number, a summary of the maximum amount you can claim and an Access Code.
• Note: Even if your application is approved, all conditions of the Help to Buy (HTB) scheme must be satisfied for the claim to be approved
Claim Stage:
• Claim via www.ros.ie
• Upload all relevant and required documentation e.g. AIP, purchase value, contracts
• Once you have submitted your claim, you will be provided with a Claim Number.
Verification Stage:
• Information provided will need to be verified by a qualifying contractor (purchasing) or your solicitor (self-build).
• When you have submitted your claim, advise your eligible verifier and provide them with your Claim Number and Access Code.
• The refund that you then receive is limited to 10% (5% under the original HTB scheme) of the purchase value OR approved valuation.