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Help to Buy Explained

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 provides for a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid over the previous four tax years to first-time buyers who purchase or self-build a new house or apartment to live in as their home.

The main provisions, as set out in the Finance Act are outlined below.

WHO IS ENTITLED TO CLAIM?

A first-time buyer of a house or apartment who purchases or self-builds a new residential property between 19 July 2016 and 31 December 2019 may be entitled to claim a refund of Income Tax and DIRT paid over the previous four years.

The first-time buyer must not have either individually or jointly with any other person (directly or indirectly), previously purchased, or built a house or apartment. Where more than one individual is involved in purchasing or building a new home, all of the individuals must be first-time buyers.

Note: You must ensure that your contractor is a Revenue approved qualifying contractor before purchasing the property if you wish to avail of the Help to Buy incentive. See the list of Developers/Contractor who are registered as a Qualifying Contractor.

You must be tax compliant. If you are self assessed you must also have eTax clearance

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Why You Need Us

Buying your first home is a very stressful process. Firstly you have to trawl through so many houses, which more often than not don’t live up to that glossy brochure you have read and re read a thousand times. Then you have  fight off other prospective buyers in order to get it and just when you think you coming to an end of this journey, and you have found your dream home, you then have go about  and apply for a mortgage , which in itself is an even scary process.

You have to  bare your financial soul to a lender, then sweat bullets while waiting to learn if they think you’re good enough to borrow their money. And just when you think you’ve jumped over all the hurdles and you’re finally done, the lender asks for another piece of paper to prove you’re still mortgage-worthy!

Yes, it’s maddening, but we have guided hundreds of people through the process and 99% of them are still speaking to us!

Adding to these challenges, it’s really hard to get an unbiased comparison of rates, fees and lender criteria, and to figure out the bottom line –how much is this house going to cost me on a monthly basis, and over the long term?  Does it make financial sense for me to do this?

WHY DO YOU NEED A MORTGAGE BROKER?

If you choose to work with us, we will:

  • We are expert profilers, and we will present you to the bank in the best possible light.
  • Help you put together a compelling application, one that will highlight your qualifications to lenders. We are experts at profiling people, so that their case is presented to the lenders in the best possible light.  We won’t go to a bank unless we are fully confident that your mortgage will be approved.
  • Find you the best loan rate and term  for your needs
  • Ensure your personal information is handled with the highest levels of security, privacy and discretion
  • If you are still only at the planning stage, and just starting to think about getting on that first rung of the property ladder, we will give you advice on how to be mortgage ready so when you do find a home, you  are in a positon to apply for the mortgage.

Our  team works to make the process easy and fun. We’ll keep you laughing as we work together, or at least we’ll keep you from crying. We won’t submit your application until we’re sure it will be approved, and we’ll prepare all the paperwork, file it for you and deal with the lenders.
You relax while we do the work! What could be better?