Written answers
Tuesday, 21 February 2017
Department of Finance
Help-To-Buy Scheme Data
Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source
120. To ask the Minister for Finance to set down the number of applications to date for the help-to-buy scheme as announced in budget 2017; and if he will make a statement on the matter. [8086/17]
Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source
121. To ask the Minister for Finance to set out the number of applications for the help-to-buy scheme that have been deemed valid to date; and if he will make a statement on the matter. [8087/17]
Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source
122. To ask the Minister for Finance to set out in tabular form the number of successful or pending applications for the help-to-buy scheme in categories (details supplied); and the total potential cost of the scheme in each category. [8088/17]
Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source
123. To ask the Minister for Finance #to set out the total anticipated cost of the help-to-buy scheme based on the applications to date; and if he will make a statement on the matter. [8089/17]
Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source
I propose to take Questions Nos. 120 to 123, inclusive, together.
The Deputy may be aware that a two-stage process is employed for the Help to Buy incentive, under which individuals submit an application for the incentive to receive an indication of the level of tax relief that may be available to them, and subsequently submit a claim for a tax refund. This refund is generally payable to the contractor at the deposit stage in the case of a home purchase, or in the case of a self-build, is paid to the applicant when they have drawn down the first tranche of their mortgage.
I am advised by Revenue that the number of Help to Buy (HTB) applications received up to Friday 17 February 2017 was:
No. of Applications | Successful applications | *Pending |
---|---|---|
2,951 | 872 | 2,079 |
Information about the loan-to-value ratios is not available when individuals submit their applications, as such figures are not usually finalised at that stage of the process. However, this information is necessary for successful applicants to finalise their claims. I am advised that the categorisation of successful claims by the requested loan-to-value ratios as of 17 February 2017 was:
Loan-to-value (LTV) | 90% | 85% to 90% | 80% to 85% | Below 80% (and above 70% minimum LTV) |
---|---|---|---|---|
Total (307) | 84 | 119 | 57 | 47 |
No comments