First Time Buyer Help Available:
Own your New Home with a €5,000 deposit!
If you are embarking onto the first step of the property ladder, help is available to make the process easier for you.
The Help-To-Buy Scheme:
How it works and why it can benefit you
The Help to Buy Scheme allows first time buyers to claim 10% of their property value to help them pay a deposit on newly built homes.
How It Works
The funds will go towards your deposit:
- You can get up to €30,000
- The Help to Buy (HTB) scheme is an incentive for first-time buyers of newly built homes. It will help you with the deposit you need to purchase a new-build house or apartment.
Here’s an example:
- Purchase Price €350,000
- Help to Buy Rebate €30,000
- Deposit Required €5,000
*Subject to being approved the full €30,000.
Here is an example
A first-time buyer couple with a combined salary of €80,000 and a deposit of €40,000 want to buy a property for €350,000. The house price ceiling is €375,000.
The participating lender has offered a potential mortgage of €280,000 based on their salary, so minus the deposit, the shortfall is €30,000.
The FSH could potentially help by offering to meet a shortfall up to €112,500 (30%). In this instance, the couple will only need help with €30,000.