Michael McGrath (Cork South Central, Fianna Fail)
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206. To ask the Minister for Finance the number of first-time buyers his Department expects to avail of the help to buy scheme, announced in the budget, in 2016, 2017 and 2018; if he is putting any cap on the maximum cost to the Exchequer in respect of the scheme; and if he will make a statement on the matter. [30888/16]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy will be aware, the "Help to Buy" initiative announced in the Budget, will provide an income tax rebate to first time buyers to assist them in getting the deposit for their first home, as required under the Central Bank's macro-prudential mortgage rules.

There is no cap on the potential cost to the Exchequer of this scheme. As the initiative is demand-led, it is not possible to forecast the numbers of first-time buyers that will choose to avail of it on an annual basis. However, initial forecasts of the potential costs by my Department for the coming years, as outlined in Budget 2017, are based on figures in relation to the number of new homes built in recent years and the proportion of which are purchased by first-time buyers.

Michael McGrath (Cork South Central, Fianna Fail)
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207. To ask the Minister for Finance the expected outcome if a person availing of the help to buy scheme for first-time buyers announced in the budget does not live in the property for five years; and if he will make a statement on the matter. [30889/16]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy will be aware, every tax relief has conditions that must be met in order for eligibility to be established. Under the "Help to Buy" initiative, which is aimed at helping first-time buyers to purchase a newly built principal private residence, if an individual has been found to no longer meet certain conditions under the scheme, such as occupying the house, they may need to refund a portion of the tax rebate that they have received. The full details of the occupancy requirement and any potential clawback of the relief will be set out in the Finance Bill.

Willie Penrose (Longford-Westmeath, Labour)
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208. To ask the Minister for Finance if, in respect of the €20,000 grant for first-time buyers outlined in budget 2017 it will be applied in respect of a house which was commenced but clearly not finished as it just constitutes a shell, with no septic tank installed or electricity connection; and if same would be classified as a new build whereby the young persons intending to purchase same completed the shell to a satisfactory habitable standard (details supplied); and if he will make a statement on the matter. [30905/16]

Michael Noonan (Limerick City, Fine Gael)
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In Budget 2017, I announced a "Help to Buy" initiative which will provide an income tax rebate to first time buyers to assist them in getting the deposit for their first home, as required under the Central Bank's macro-prudential mortgage rules. The full definition of what constitutes a new build property, as well as the conditions around self-builds that will be eligible under the initiative, will be outlined in the Finance Bill.