Bernard Durkan (Kildare North, Fine Gael)
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271. To ask the Minister for Finance if circumstances or an exemption exists whereby a first-time buyer (details supplied) can be eligible for the help-to-buy scheme; and if he will make a statement on the matter. [16453/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Help-to-Buy (HTB) is an incentive for first-time property purchasers to help with the deposit needed to buy or self-build a new house or apartment as a home.

The qualifying criteria for the HTB includes that first-time purchasers must take out a mortgage with a qualifying lender that is at least 70% of the value of the property or approved valuation in the case of a self-build. The legislation does not provide for any exemption where the loan-to-value ratio is below the 70% threshold.

I am advised by Revenue that the person in question has completed the initial application stage of their claim for the HTB. However, as they have not yet completed the claim stage of the process, which includes the mortgage details, it is not known as to whether they meet the 70% loan-to-value ratio.

If the person’s loan-to-value ratio is less than the required 70% threshold, as indicated by the Deputy, then they will not qualify for the scheme. There is no provision in the legislation for any exemption to be applied in such circumstances.