Who is eligible?
This service is for anyone who:
- an individual who purchases or self-builds a home or apartment for the first time
- is a first time buyer of a home who purchases or self-builds on or after the 1st of January 2017
- is a first time buyer of a home or apartment who purchases or self-builds the property as their home.
Eligibility to apply for the Help to Buy incentive is based on the following:
- you must be a first time buyer of a home
- the cost of the home must be less than €500,000
- the property is to be used as your home
- the loan to value ratio of mortgage on the property is 70% or greater
- if purchasing, you are purchasing from a qualifying contractor
Claiming as a group?
A group is made up of two or more people who are purchasing or self-building a home. A group can include a married couple. Before applying group members should:
- ensure they have the names and PPS Numbers of each member of the group
- consent that their names and PPS Numbers will be visible to all group members
- confirm that all members of the group are first time buyers
- consent that any member of the group can allocate the tax available for each member
What happens next
Help to buy is a four step process. The steps are as follows:
- Apply as an individual or a group
- Make a claim
- Verification of the claim
If you are thinking of applying for a mortgage and would like to find discuss it with a mortgage expert, speak to a member of the Irish Mortgage Corporation team who can advise you on your options.