Michael Healy-Rae (Kerry, Independent)
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94. To ask the Minister for Finance his views on a matter (details supplied) regarding the new scheme to assist first-time buyers; and if he will make a statement on the matter. [32569/16]

Michael Noonan (Limerick City, Fine Gael)
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Details of the Help To Buy scheme, which I announced in Budget 2017, are set out in Finance Bill 2016 which was published on 20 October.  The Bill provides that, in the case of a self-build residence, a first-time buyer must take out a mortgage in an amount which is at least 70% of the valuation of the residence as approved by the mortgage provider. 

The calculation of the 5% referred to by the Deputy is also based on the valuation of the residence as approved by the mortgage provider. 

While I cannot comment on the specific case referred to by the Deputy, there wouldn't appear to be any reason why the individuals concerned could not make a formal application to Revenue in January 2017 when the Revenue online system for the Help To Buy scheme is due to come on stream. 

Further information in relation to the scheme is available from the Revenue website at .

Michael Healy-Rae (Kerry, Independent)
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95. To ask the Minister for Finance if a person qualifies for the new help-to-buy scheme if they build a new home where a 1950s house remains (details supplied); and if he will make a statement on the matter. [32986/16]

Michael Noonan (Limerick City, Fine Gael)
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Details of the Help To Buy scheme, which I announced in Budget 2017, are set out in Section 8 of Finance Bill 2016 which was published on 20 October.  To qualify for the scheme, a new-build is a property that has not been previously used as a residence. If the property in question falls within the definition of a qualifying residence for the purposes of the legislation then the property may qualify as a new build. The particulars of the case, as set out by the Deputy, would indicate that the build planned by the individual would not qualify. However, it is difficult to be definitive, given the lack of detail. The Revenue Commissioners would examine such applications on a case by case basis to ascertain whether they will or will not qualify as a new build.

I would point out to the Deputy that the Home Renovation Incentive is available in respect of refurbishment works on existing dwellings. The Help to Buy scheme is targeted at increasing supply and it is for this reason that the scheme is not available in respect of the redevelopment of existing housing stock, which has already been used as for dwelling purposes.

Further information in relation to the scheme is available from the Revenue website at .