The Help to Buy scheme was designed to help first-time buyers of newly built homes to assemble the required deposit.
The scheme provides for a rebate of tax paid over the previous 4 tax years.
Currently the amount of tax that may reclaimed is the higher of 5% of the purchase price or €20,000.
The Government has now announced that these limits are being increased to 10% of the purchase price or €30,000.
It strikes me that some FTBs will now be in a position to buy without saving any deposit at all.
The scheme provides for a rebate of tax paid over the previous 4 tax years.
Currently the amount of tax that may reclaimed is the higher of 5% of the purchase price or €20,000.
The Government has now announced that these limits are being increased to 10% of the purchase price or €30,000.
It strikes me that some FTBs will now be in a position to buy without saving any deposit at all.