Legal News

Mcgrath Mullan Solicitors Dublin

Incentive for First Time Buyers

The Help to Buy (HTB) incentive is a scheme for first-time property buyers. It will help you with the deposit you need to buy or build a new house or apartment.

The incentive will give you a refund of Income Tax and Deposit Interest Retention Tax (DIRT) that you paid in Ireland in the four years prior to making the application. The maximum payment is €20,000 per property. Under the enhanced HTB relief, which has been extended until 2021, where applicants satisfy certain conditions, increased relief is available up to a maximum of €30,000.

For the scheme to apply, the value of the property must be €500,000.00 or less and you must take out a mortgage on the property for at least 70% of the purchase value.

To be eligible under the scheme;

1. You must be a first-time buyer.

2. Buy or build a new property between 19 July 2016 and 31 December 2021.

3. You must live in the property as your main home for five years after you buy or build it.

4. You must be tax compliant, if you are self-assessed you must also have tax clearance.

If you are a first-time buyer and have any questions or require any assistance on the above, please contact Hannah at or on 01-8735012.

Author Bio

McGrath Mullan

Founded in 1999, McGrath Mullan LLP has become a cornerstone of legal expertise in Dublin. Our firm offers a comprehensive range of legal services in both private and commercial law. With a team of nine experienced solicitors, we specialise in areas such as Immigration Law, Personal Injury, Commercial Property, Family Law, and Probate, ensuring our clients receive expert legal solutions.

Share This

Mcgrath Mullan Solicitors Dublin

Contact Us

Suite 323,The Capel Building, Marys Abbey, D07 C668