First time buyers grant

If you’re a First Time Buyer, you’ll know it’s tough, but let’s focus on the good news. The government introduced a First Time Buyers grant or Help to Buy incentive for people about to jump onto the property ladder in 2016.

The First Time Buyers grant or Help to Buy (HTB) incentive is a scheme – especially for people in your position. It will help you with the deposit you need to buy or build a new house or apartment. (You must buy or build the property to live in as your home.)

The incentive will give you a refund of Income Tax and Deposit Interest Retention Tax (DIRT) that you paid in Ireland over the previous four years.

Who can qualify for the First Time Buyers grant (Help To Buy Scheme)

To qualify for the First Time Buyers grant, you must not have previously bought or built a house or apartment, either on your own or jointly with any other person. If you are buying or building the new property with other people, they must also be First Time Buyers. If you have inherited or been gifted a property it will not affect your eligibility.

A few figures please, how much can I get?

To quote ‘Revenue’ verbatim – The amount that you can claim is the lesser of:

5% of the purchase price



The total income tax, including DIRT, paid by the purchaser in the 4 years immediately preceding the year of application.

If the purchaser receives approval in respect of the scheme the tax  rebate will be paid to the builder. 

I do like the sound of that, can I have more information please?

Full details are at: 

Small health warning.  The Revenue are entitled to clawback the rebate where the property is not the purchaser’s main residence for a period of 5 years. 

The plan expires at years end – so act now.

Also try our First Time Buyers Calculator to compare the market and get the best mortgage deal for you!

Claire Mason


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