Schemes
Help to Buy, step by step: from myAccount to the refund
Help to Buy refunds income tax you have already paid, to help first-time buyers with the deposit on a new home. The money arrives at the end of a two-stage process, and the order matters.
Who qualifies
- You are a first-time buyer: you have never bought or built a home, alone or with anyone else.
- The home is a new build bought from a developer, or a home you are building yourself, and you will live in it.
- The price, or the valuation of a self-build, is €500,000 or less.
- Your mortgage is at least 70% of the price, from a qualifying lender.
- You paid income tax, and possibly DIRT, in Ireland in the four years before you apply.
How much you can get
The refund is the lowest of three figures: €30,000, 10% of the price, and the income tax and DIRT you paid over the previous four years. On a €350,000 home the ceiling is €30,000. On a €280,000 home it is €28,000, provided you paid at least that much tax.
A joint application adds up the tax paid by both buyers. Once you save your figures in the calculator, My journey shows the most you could get at your target price.
The two stages
- Application. In Revenue's myAccount, open Help to Buy under Property and Land Services and apply. Revenue shows the most you could claim and gives you an application number, which your lender needs for the mortgage approval.
- Claim. Once you have signed the contract and have a loan offer, return to Help to Buy and make the claim, with the contract and the offer. Your solicitor verifies the details.
- Payment. Revenue pays the refund to the developer, or to your lender for a self-build. It does not come to you directly.
Before you apply, make sure an income tax return is filed for each of the four years. PAYE workers file theirs in myAccount and self-employed people in ROS. A year without a return counts as nothing.
Common delays
- The application has an expiry date. Apply when you are close to buying, and claim before it passes.
- A tax year is missing because a return was never filed.
- The developer is not a qualifying contractor. Ask before you pay a booking deposit.
- The mortgage falls below 70% of the price because more savings went in. Borrow at least 70% and keep the rest as a buffer.
Worth knowing
You do not repay Help to Buy, as long as the home stays your main residence for five years. If you sell or move out sooner, part of it may be clawed back.
