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Eligibility For The Help To Buy Scheme: What You Need To Know In 2025
If you are hoping to become a first-time buyer in 2025, one job should be right at the top of your to-do list: checking your eligibility for the Help to Buy Scheme.
With property prices reaching record highs in the country, this government scheme is a valuable resource that makes the journey more accessible for those taking their first steps onto the property ladder.
However, to reap the benefits of this initiative, it is important to familiarise yourself with the eligibility criteria.
In this article, we discuss the Help to Buy Scheme in 2025 and highlight how it can help you achieve your dream home faster.
What is the Help to Buy Scheme?
Introduced in January 2017, the Help to Buy Scheme is a government initiative that aims to assist first-time buyers in Ireland with building or purchasing their first property.
How does it work?
It provides a tax refund on income tax and Deposit Interest Retention Tax (DIRT) paid over the previous four years, which can be used towards the deposit required for a mortgage. This tax rebate can amount to approximately €30,000.
Why is it important?
With house prices now rising at an annual rate of close to 10%, the initiative can make a huge difference to first-time buyers trying to get a sale over the line.
What changes have been made to the scheme for 2025?
Although the general purpose and structure of the Help to Buy Scheme remain the same, one important change was introduced in the latest budget: its timeframe was drastically extended.
While the scheme was due to expire on 31st December 2025, it has now been extended until 2029, giving first-time buyers a longer period during which they can avail of this government initiative.
How much can you claim through the scheme?
When applying for Help to Buy, the amount you can claim is dependent on how much DIRT and income tax you have paid over the previous four years. That said, it’s important to note that tax refunds are capped at €30,000, or 10% of the property’s purchase price – whichever is the lesser figure.
Who can apply? Assessing your eligibility for the Help to Buy Scheme?
There are very specific eligibility criteria that must be met by applicants to qualify for the Help to Buy Scheme.
1. To have eligibility for the Help to Buy Scheme, you must have first-time buyer status
The scheme is an incentive specifically created to assist first-time buyers. Therefore, if you (or a co-purchaser in the case of a joint application) have ever owned or built a house in the past, you will be exempt from applying.
2. It is only open to those purchasing a new build or embarking on a self-build
The Help to Buy Scheme only applies to newly built properties or self-builds. A second-hand property will not be eligible for the scheme. Essentially, the house must never have previously served as a residential home.
It’s also important to note that properties purchased or self-built as an investment will not qualify.
However, if the property was non-residential until it was converted for residential use, it may qualify for Help to Buy.
Equally vital is that the property’s developer or contractor must be on Revenue’s registered list of providers.
3. Applicants must be income tax compliant
As mentioned earlier in this article, the amount of tax you have paid will directly affect how much you can claim through the scheme. However, to be considered eligible in the first place, applicants must have paid sufficient income tax and DIRT in Ireland over the previous four years.
It’s also vital for those applying to hold a valid Tax Clearance Certificate, which will verify that their tax affairs are in order; another prerequisite for claiming a tax refund through Help to Buy.
4. There is a cap on the purchase price of the home
In the interest of benefitting those in the market for an affordable home, the Help to Buy Scheme stipulates that any property purchased or built with the assistance of the incentive must not exceed a value of €500,000.
5. The mortgage must be taken out with a qualifying lender
The mortgage loan secured on the property must be approved by a qualifying lender. Moreover, the loan must cover at least 70% of the purchase value or 70% of the approved valuation.
How to apply for the Help to Buy Scheme
Below are the key steps involved with the Help to Buy application process:
1. Check your eligibility for the Help to Buy Scheme
Reviewing the eligibility criteria in advance of the application is vital to ensure you meet all requirements. Consulting with a mortgage advisor at the outset will provide clarity from the get-go.
2. Get your Tax Clearance Certificate
Before starting the application process, make sure your tax records are up to date and align with the conditions of the scheme. You can apply for a Tax Clearance Certificate through Revenue’s online system.
3. Engage with a developer or contractor
As previously touched on, it is crucial to check that the developer or contractor of your chosen property is registered with Help to Buy, as only certain suppliers will qualify for the scheme.
4. Complete the application
Use the Revenue Online Service (ROS) to submit your Help to Buy application, and be prepared to provide details of your income, tax payments and property purchase. Once again, enlisting the help of a mortgage advisor at this critical stage is a wise move.
Assess your eligibility for the Help to Buy Scheme with expert assistance
Researching the Help to Buy Scheme, from assessing eligibility to the application itself, can be overwhelming. With expertise in first-time buyer mortgages and an in-depth understanding of government schemes, our team at Symmetry Financial Management is on hand to simplify the entire experience. We streamline the process by:
- Reviewing your financial situation and tax history to ensure you qualify for the initiative.
- Advising you on how to claim the maximum tax refund available to you under the scheme.
- Working with a range of approved lenders to secure the best mortgage for your needs.
If you’re ready to explore your options and take the first step towards homeownership, contact us today. With expert guidance, the journey to your first home can be shorter and smoother than you ever imagined.
If you’d like a free, no-obligation consultation for your mortgage, pension or financial needs, get in touch here, call us on 01 6831673 or email us directly on info@symmetryfinancial.ie.
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