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? 

Budget 2021 Update

Updated 14th October 2020: The 2021 Budget has seen the extension of the Help-To-Buy Scheme, including the increase to 10% (up to €30,000), until the end of 2021.

The Help-to-Buy incentive allows First Time Buyers to claim a refund of income tax and DIRT that you have paid over the last four years. As a first-time homebuyer, you could now be eligible for up to 10% of the purchase value of your new home (to a maximum of €30,000). 

No deposit required?

Until the end of 2021, if you qualify for the Help to Buy Scheme and are purchasing a property under €300,000, the 10% rebate would cover the cost of the entire deposit. In practice, however, it is advised that to qualify for a mortgage you would still need a minimum of €5000-€10,000 in regular savings that demonstrates an ability to repay the loan.

The good news is though, that you can now spend some of those hard earned savings on kitting out your beautiful new home! 

Alder Homes

Example

House Price10% DepositLess HTBSavings RequiredMonthly Repayments*
€250,000€25,000€25,000€0€865
€275,000€27,500€27,500€0€952
€480,000€48,000€30,000€18,000€1662
Based on 90% mortgage amount over 30 years at a rate of 2.3%. These are estimates only. Interest rate example provided by Campion Insurance.

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.
  • Will you be an owner-occupier?
    You must be living in the property for at least five years after you buy it.
  • Is your mortgage at least 70% of the value of the property?
    Cash buyers and second-hand homes are not eligible.
  • Is the developer or builder 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