Written answers
Thursday, 25 April 2024
Department of Finance
Housing Schemes
Pearse Doherty (Donegal, Sinn Fein)
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155. To ask the Minister for Finance the estimated cost to the Exchequer of the help to buy scheme in 2023, 2024 and 2025, respectively. [18671/24]
Pearse Doherty (Donegal, Sinn Fein)
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156. To ask the Minister for Finance the allocation in the base as per Budget 2024 for the help to buy scheme in each of the years 2025, 2026 and 2027. [18672/24]
Pearse Doherty (Donegal, Sinn Fein)
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157. To ask the Minister for Finance the estimated revenue saved were the loan to value ratio under the help to buy scheme increased to 85%. [18673/24]
Pearse Doherty (Donegal, Sinn Fein)
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158. To ask the Minister for Finance the estimated revenue saved were the maximum amount of relief under the help to buy scheme reduced to €25,000 and the loan to value ratio increased to 85 %. [18674/24]
Pearse Doherty (Donegal, Sinn Fein)
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159. To ask the Minister for Finance the estimated revenue saved were the maximum amount of relief under the help to buy scheme reduced to €20,000 and the loan to value ratio increased to 85 %. [18675/24]
Pearse Doherty (Donegal, Sinn Fein)
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160. To ask the Minister for Finance the estimated revenue saved were the maximum amount of relief under the help to buy scheme reduced to €15,000 and the loan to value ratio increased to 85%. [18676/24]
Pearse Doherty (Donegal, Sinn Fein)
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161. To ask the Minister for Finance the estimated revenue saved were the maximum amount of relief under the help to buy scheme reduced to €10,000 and the loan to value ratio increased to 85%. [18677/24]
Michael McGrath (Cork South Central, Fianna Fail)
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I propose to take Questions Nos. 155, 156, 157, 158, 159, 160 and 161 together.
Help to Buy is a demand led scheme which is subject to a broad range of variables, including housing completion rates and prices. For the purposes of the Budget 2023 documentation, a figure of €175 million was estimated as the full year cost going forward. For the purposes of the Budget 2024 documentation, a figure of €181 million was estimated as the full year cost going forward and a figure of €181 million is also estimated for 2025. As the scheme is scheduled to sunset on 31 December 2025, there are no estimates available for 2026 or 2027.
I am advised by Revenue that the table below sets out the estimated annual revenue saved for each scenario outlined by the Deputy, using claims approved in 2023, the latest year for which fully analysed data are available.
| Proposed Measure | Revenue Saved €m |
|---|---|
| Loan to value ratio of a minimum of 85% | 90 |
| Loan to value ratio of a minimum of 85% and maximum relief of €25,000 | 105 |
| Loan to value ratio of a minimum of 85% and maximum relief of €20,000 | 120 |
| Loan to value ratio of a minimum of 85% and maximum relief of €15,000 | 135 |
| Loan to value ratio of a minimum of 85% and maximum relief of €10,000 | 150 |
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