One thing you may not have considered is Revenue’s Help-to-Buy (HTB) scheme. Because you want to buy a new-build, you may well be eligible, according to Joey Sheahan, head of credit with MyMortgages.ie and author of the newly released ‘The Mortgage Coach’.
If you qualify for the HTB scheme, you can claim up to 5pc of the purchase price of the house as a tax rebate
Your Questions
Q: My partner and I are renting a three-bed house in Galway for €1,300. We have just learned that we will be having our first baby at the end of the year and we would absolutely love to have our own home by then. We both have secure incomes as young teachers of €35,000, but we are really struggling to get a deposit together. The property we have our eye on is €270,000 and in a new development near where we already live. We have €5,000, and gifts from our parents will bring that up to €15,000. But that is still not enough. Is there any help out there for us?
A: One thing you may not have considered is Revenue’s Help-to-Buy (HTB) scheme. Because you want to buy a new-build, you may well be eligible, according to Joey Sheahan, head of credit with MyMortgages.ie and author of the newly released ‘The Mortgage Coach’.
To give you an idea of where you stand, you will need a total of around €32,400 to purchase the property.
This is made up as follows: 10pc, or €27,000, as a deposit, plus 1pc stamp duty of €2,700, and 1pc, or €2,700, toward legal costs.
Read the full article by Charlie Weston here –
https://www.independent.ie/business/personal-finance/we-need-to-buy-a-home-with-a-baby-on-the-way-is-there-help-available-38958512.html
