Written answers

Tuesday, 17 January 2017

Department of Finance

Help-To-Buy Scheme Eligibility

Photo of Clare DalyClare Daly (Dublin Fingal, Independent)
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277. To ask the Minister for Finance if he will designate properties remediated under the pyrite remediation scheme as new builds for the purposes of the help-to-buy scheme, in recognition of the fact that in essence they have been rebuilt and in view of the fact that these properties could not be sold prior to the works. [1236/17]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The Pyrite Remediation Scheme is primarily a matter for the Minister for Housing, Planning and Local Government. The Deputy will be aware that the scheme has been set up to remediate dwellings that have been significantly damaged as a result of pyritic heave caused by the swelling of hardcore under ground floor slabs. The Scheme has been prepared by the Pyrite Resolution Board (PRB) under the Pyrite Resolution Act 2013. The intent behind the Deputy's question is unclear, as presumably the affected homes are already principle private residences for their owners.

The Help to Buy incentive is not aimed at the rebuilding or restoration of existing dwellings, but instead is restricted to the purchase of new dwellings and new self-builds. By restricting the incentive in this way, it is anticipated that the resulting increase in demand for affordable new-build homes should encourage the construction of an additional supply of such properties.  The initiative specifically excludes properties that have previously been occupied as a dwelling.

A property previously occupied and subject to remedial works under the Pyrite Remediation scheme would not be considered as a new build under the scheme. If this were to be permitted, then an argument could also be made for other dwellings which have been restored or rebuilt to also qualify. This would open the scheme up to second hand properties, and would undermine one of the key reasons, i.e. to increase the supply of new housing, for the Help to Buy initiative.

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