Fine Gael TD and Minister of State for Food, Forestry and Horticulture, Andrew Doyle, has welcomed the commencement of the ‘Help to Buy Scheme’ for first time buyers.
“The ‘Help to Buy’ incentive is designed to assist first-time buyers with obtaining the deposit required to purchase or self-build a new house or apartment to live in as their home. The incentive will allow purchasers to claim a rebate of income tax already paid up to a maximum of €20,000, depending on the value of the property.
“Currently there are more than 15 new developments with properties for sale in Wicklow and I am aware that other new developments that will launch in the coming year. This scheme will help to stimulate supply of new housing by boosting confidence among builders and developers. It will also mean that first time buyers will be able to purchase homes in Wicklow sooner.
“First-time buyers either purchasing newly built homes or building their own can apply for rebates via a form available at the website of the Revenue Commissioners – revenue.ie. The maximum rebate is 5 per cent of the value of the property, up to a maximum of €20,000. The relief will be linked to a mortgage being taken out for a minimum of 70% of the purchase price, or in the case of a self-build, 70% of the valuation approved by the mortgage provider.
“Fine Gael is committed to supporting the housing market and this scheme is one of ten housing market support measures to complement the structural measures in the Action Plan for Housing and Homelessness. We understand that an increased supply of quality housing is essential for a growing population and for maintaining our economic competitiveness.”