Expanded help-to-buy scheme makes little sense and may fuel house price rises

Stimulus boost for help-to-buy scheme makes little sense in current market

There might be fewer than 6,000 homes available to those using the help-to-buy scheme this year

There might be fewer than 6,000 homes available to those using the help-to-buy scheme this year

An expanded help-to-buy scheme was a surprise element of the €7 billion stimulus plan unveiled on Thursday by the Government, and with good reason.

The plan allows first-time buyers purchasing a newly-built home – or building one themselves – to claim back up to €30,000 in income tax paid and DIRT on bank deposit interest over the last four years. As before, you cannot claim back either universal social charge or PRSI paid over that period.

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