Help to Buy Scheme

Are you a first-time buyer? Did you know that Alder Homes and all our houses in our Cluain Dara and Ballintine Park projects qualify for the Help-to-Buy government scheme? 

As a first-time homebuyer, you could be eligible for 5% of the purchase value of your new home (to a maximum of €20,000). The Help-to-Buy incentive allows you to claim a refund of income tax and DIRT you have paid over the last four years.

Alder Homes

Example

Conor and Sarah want to buy a new 3-bed semi-detached home for €250,000. According to the Central Bank guidelines, they will need a 10% deposit (€25,000) to buy their home. Under the Help-to-Buy incentive, they can claim back a tax rebate of €12,500 (5% of the value of the home). Now they only need to save a €12,500 deposit themselves, and add it to their rebate, giving them a full deposit of €25,000 to put down. 

Note: They will need to live in house for the next five years from the date the house is habitable or they may have to repay some or all of the tax rebate.

Do you qualify?

If you are purchasing an Alder Home and you meet the following criteria you should be eligible for the Help to Buy scheme. 

  • Are you a first time buyer?
    If you are purchasing with a partner, they must be a first-time buyer, too.
  • You must be an owner-occupier
    Will you be living in the property for at least five years after you buy it?
  • Your mortgage must be at least 70% of the value of the property
    Cash buyers and second-hand homes are not eligible.
  • The developer or builder must be registered with the scheme
    Yes! Alder Homes is registered and all our homes qualify.

How to Apply

  • Register with Revenue
    Begin by registering with Revenue’s MyEnquiries service. PAYE employees can apply on Revenue’s myAccount service. Self Assessed taxpayers can apply through ROS.
  • Complete "Form 12"
    Complete a "Form 12" tax return for each of the years on which you are seeking a rebate of tax paid.
  • Upload Home Contract
    Upload a copy of the signed new home contract, provided by your solicitor, to myAccount/ROS. You will also include details of the property, its purchase price and the completion date. Provide details of the mortgage lender and of the mortgage.
  • Developer / Builder Details
    Upload your builder/ developer’s details. Once your claim is submitted, the Alder Homes team will verify via the Revenue system and confirm details of the purchase.
  • Refund is paid out
    Your refund will be paid directly to Alder Homes and deducted from the price of the property.

If you have any questions about any Alder home and the Help to Buy scheme please get in touch with our sales manager. The Help to Buy scheme, introduced in July 2016, is available until the end of 2021. 

Further Reading and Resources