Help to Buy Scheme Ireland: How to Apply and Qualify as a First-Time Buyer

If you’re a first-time buyer in Ireland, the Help to Buy Scheme could provide the financial boost you need to purchase your dream home. This comprehensive guide breaks down the details of the government Help to Buy House Scheme, its criteria, and the steps to apply, ensuring you’re fully informed before taking the next step in your First time buyer property journey.
For more advice also check out our tips for buying your first home.

What is the Help to Buy Scheme?

The Help to Buy Scheme Ireland is an Irish government initiative designed to assist first-time buyers get on the property ladder. The scheme offers a tax rebate of up to €30,000, helping to cover the deposit needed to buy or build your first home.

Help to Buy Scheme Ireland: Key Eligibility Criteria

To apply for the Help to Buy Scheme in Ireland, you must meet specific eligibility criteria. Here’s what you need to know:

Who Qualifies?

• First-time buyers only.
• Joint applicants must all be first-time buyers.
• Applicants must live in the property as their primary residence.
• The property must be purchased or built as your first home.

What Types of Properties Are Eligible?

• Newly built homes or self-build properties qualify.
• Second-hand properties and buy-to-let investments are not eligible.
• The property’s value must not exceed €500,000.

How Much Can You Claim?

• Up to 10% of the property’s value, capped at €30,000.
• The claim amount depends on the income tax and DIRT you’ve paid over the past four years.

Tax Requirements

• Applicants must be fully tax-compliant in Ireland.
• A Tax Clearance Certificate is required.
• Tax affairs must be up to date.

Additional Criteria

• The developer or contractor must be registered with the Revenue Commissioners.
• Applicants must have a signed contract or commencement notice in place.

How to Apply for the Help to Buy Scheme in Ireland

Applying for the Help to Buy Scheme is straightforward. Follow these steps to ensure a smooth process. If you’re just starting, check out our guide on getting ready to apply for a mortgage.

Step-by-step guide to the application process

Whether you’re a first-time buyer or just exploring your options, this step-by-step process will help you navigate the Help to Buy Scheme application with ease. Here’s what to expect:

Step 1: Check Your Eligibility

Before applying, ensure you meet the Help to Buy Scheme eligibility criteria, including being a first-time buyer and having your tax affairs in order.

Step 2: Gather Necessary Documents

• Proof of identity (e.g., passport or driver’s license).
• Details of your PPS number.
• Evidence of your tax compliance (Tax Clearance Certificate).

Step 3: Complete the Online Help to Buy Application

Log in to your Revenue MyAccount portal or the ROS (Revenue Online Service) to apply for the Help to Buy Scheme. Provide details about the property and your tax history.

Step 4: Submit for Approval

Submit your application and await confirmation. Revenue will provide an HTB application number and an access code for your developer or contractor to verify.

Step 5: Claim Your Tax Rebate

Once approved, the funds will be allocated to your developer or self-build account, reducing the deposit amount you need to provide. The Help to Buy application process can take a few weeks, depending on the completeness of your documents.

Help to Buy Scheme Dublin vs Other Parts of Ireland: Are There Any Differences?

The Help to Buy Scheme criteria are consistent across Ireland. However, property prices in Dublin are typically higher than in other parts of the country. As a result, while the maximum rebate of €30,000 remains the same, it may cover a smaller percentage of the deposit for properties in Dublin compared to rural areas or smaller cities like Sligo or Waterford.

What is the Difference Between Help to Buy and First Home Scheme?

Both schemes aim to support first-time buyers, but they serve different purposes:

• Help to Buy Scheme: Offers a tax rebate of up to €30,000 to assist with your deposit.
• First Home Scheme: Provides shared equity support, where the government contributes to your deposit in exchange for a stake in your property. This scheme is particularly helpful for those struggling to get the full finance to fund the property price under traditional mortgage rules.

For many buyers, combining the Help to Buy Scheme with the First Home Scheme can provide the necessary financial support. Explore our first time home buyer mortgage options post and also reach out to a MortgageLine Broker for tailored advice.

First-Time Buyer? Our Mortgage Brokers Are Here to Help!

Navigating the Help to Buy Scheme Ireland can feel overwhelming, but MortgageLine is here to help. As Ireland’s leading mortgage broker, we specialize in guiding first-time buyers through the entire process. From understanding Help to Buy Scheme eligibility to finding the best mortgage deal, our experienced team is dedicated to making your journey stress-free.

We work with the main lenders across Ireland to secure the best possible mortgage rates and terms for you. Whether you’re looking for advice on how to apply for the Help to Buy Scheme or exploring additional support options, we’ve got you covered.

and take the first step toward owning your dream home.

Frequently Asked Questions

Do you need a deposit with the Help to Buy Scheme?

Yes, a deposit is still required. The Help to Buy Scheme provides up to €30,000 as a tax rebate, which can significantly reduce the amount you need to save but does not eliminate the deposit requirement entirely.

How long does a Help to Buy application take in Ireland?

The timeframe varies depending on the completeness of your application and your tax compliance status. Typically, the process can take a few weeks once all documents are submitted.

Can two people get Help to Buy?

Yes, joint applicants can avail of the Help to Buy scheme, provided both are first-time buyers and meet all the Help to Buy Scheme eligibility criteria. The total rebate remains capped at €30,000.

The Help to Buy Scheme Ireland is a great opportunity for first-time buyers to secure their dream home. The government Help to Buy House Scheme can make a big difference to your home buying budget. Reach out to MortgageLine today for expert advice and support!