Pearse Doherty (Donegal, Sinn Fein)
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168. To ask the Minister for Finance 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. [16226/17]

Pearse Doherty (Donegal, Sinn Fein)
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169. To ask the Minister for Finance 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. [16227/17]

Pearse Doherty (Donegal, Sinn Fein)
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170. To ask the Minister for Finance 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, in tabular form. [16228/17]

Pearse Doherty (Donegal, Sinn Fein)
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171. To ask the Minister for Finance 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. [16229/17]

Pearse Doherty (Donegal, Sinn Fein)
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172. To ask the Minister for Finance the average claim under the help-to-buy scheme to date; and if he will make a statement on the matter. [16230/17]

Pearse Doherty (Donegal, Sinn Fein)
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173. To ask the Minister for Finance the number of claims under the help-to-buy scheme for the maximum amount; and if he will make a statement on the matter. [16231/17]

Joan Burton (Dublin West, Labour)
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192. To ask the Minister for Finance 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. [16364/17]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 168 to 173, inclusive, and 192 together.

I am advised by Revenue that the number of applications under the Help to Buy (HTB) incentive received up to the end of March 2017 is set out in the table.

Application Stage Data

The Deputies will be aware that a two-stage process is employed for the HTB 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. The data indicates that around one-third of applications received are approved automatically, while the remainder are generally allocated a status of pending.  Pending means that the applicants either have to file an outstanding return or address a compliance issue, the application is to be reviewed by a Revenue caseworker, or the applicant needs to finalise his or her application.

The purpose of the application stage of the HTB incentive process is such that would-be first-time buyers can determine whether, and to what extent, they qualify for the incentive.  The data from the application stage are only an indicator as to possible take-up of the incentive. An applicant might not proceed to claim stage or might not get mortgage approval. Where applicable, i.e. where a contract to purchase a qualifying home has been entered into, or the individual proceeds to commence a self-build home, the individual(s) can subsequently submit a claim for a tax refund.  The necessary evidence, which is a signed contract, mortgage agreement, deposit details, details of the property for first-time purchasers or, in the case of first-time self-build claimants, evidence of drawdown of the first tranche of the mortgage, must be submitted along with the claim.  More detailed information and guidance regarding these requirements is available on the Revenue website.

Information about the loan-to-value ratios is not available at the application stage, as such figures are not usually finalised at that stage of the process. However, this information is required when a claim is made for a refund. I am advised that the categorisations of claims by the requested loan-to-value ratios as of end March 2017 are as set out in the table.

Claims Received Stage Data

With regard to the total potential cost of the scheme by reference to the various loan-to-value categories, the HTB incentive is by its nature a demand-led scheme there is no ceiling on the number of potential applicants so it is not possible to identify such a figure.

The cost of the incentive to the exchequer to date, is in the order of €8.2 million (it was estimated that the cost in 2017 would be approximately €50 million when claims in respect of 2016 were included). My Department estimated that the cost of the incentive would be €40 million in each of the years 2018 and 2019.  The estimates for the potential cost of the incentive that have featured in recent media reports are based on the number of applications received by Revenue to Stage 1 of the scheme, rather than the number of claims to date. However, many of these applicants may never make a claim to Stage 2 for a variety of reasons. These could include individuals who do not go on to obtain mortgage approval, who may decide to purchase a second-hand property, or who are not able to source the new home that they desire.

I am further advised by Revenue that of the claims made to date (1,006), approximately half have been paid and that the average claim paid under the incentive is some €15,000.  There have been 148 claims for the maximum amount of €20,000, of which 86 have been verified and refunded.

Finally, the Deputies may wish to know that Revenue now regularly publish statistics concerning the HTB incentive on its website at .