Niamh Smyth (Cavan-Monaghan, Fianna Fail)
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127. To ask the Minister for Finance if he will clarify the position of the first-time buyer's scheme when the building of a home began before 19 July 2016, but still remains a year off its completion, if it is eligible under the scheme announced in budget 2017; and if he will make a statement on the matter. [35615/16]

Michael Noonan (Limerick City, Fine Gael)
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The Help to Buy scheme, as published in the Finance Bill, requires that in order for a first-time buyer to be eligible for the scheme, he or she must have signed a contract to purchase a new residence, or in the case of self-builds, drawn down the first tranche of a mortgage, on or after 19 July 2016. The date of 19 July was chosen as it was the date of the launch of 'Rebuilding Ireland: Action Plan for Housing and Homelessness', which included a commitment to introduce such a scheme in the Budget. The backdating of the scheme to that date was to avoid any potential interruption in the housing market after that date pending the emergence of the details of the scheme.

There are currently no plans to extend eligibility for the scheme further back than the date of its initial announcement. To do so would consist entirely of deadweight, as individuals who signed contracts to purchase new homes or who drew down the first tranche of their mortgage in respect of a self-build home, in advance of the original announcement did not need the assistance of the State to fund the required deposit. Such individuals made their purchasing decisions on the basis of the information available to them at the time of purchase, and could not have expected a subsequently introduced tax relief to be available to them.

It is unclear from the Deputy's question as to the precise details of the case concerned. Depending on the particular circumstances of the case in question, the relevant individuals may be in a position to qualify for the scheme.