Aindrias Moynihan (Cork North West, Fianna Fail)
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218. To ask the Minister for Finance the number of applications made under the help-to-buy scheme through the Revenue Commissioners for 2022 and to date in 2023; the number of applications approved; the number declined in the same time period; and if he will make a statement on the matter. [21499/23]

Michael McGrath (Cork South Central, Fianna Fail)
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The Help to Buy scheme (HTB) assists first-time buyers with the deposit required to purchase or self-build a new house or apartment to live in as their home providing for a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid by the applicant(s) over the previous four tax years. Eligibility of the applicant, together with the maximum potential relief available is determined at application stage, however, eligibility of the residence and actual relief due is confirmed at claim/verification stage.

It should be noted that applications for HTB may be made on a provisional basis as first-time buyers seek to clarify their entitlements in advance of commencing the purchase of a property.

An application will only progress to the “claim” stage if and when the applicant decides to purchase a property that is eligible for the scheme. First-time buyers can submit their claim once a contract is signed for the purchase of a property. In the case of self-builds, the claim can be submitted after the draw-down of the first tranche of the mortgage.

Applicants may apply and subsequently cancel their application multiple times in order to amend/correct the application, for example, when amending from a single to joint application or including additional/fewer years.

Furthermore, approved applications will automatically expire, if the claim is not finalised on or before 31 December for applications received between 1 January and 30 September, and on 31 March of the following year, for applications received between 1 October and 31 December.

I am advised by Revenue that 46,470 HTB applications were received in 2022 with a further 23,336 applications received this year, as of 30 April 2023. A breakdown of the status of the applications is below.