Hi,
I'm in the process of saving for a deposit on a house, I'm a first time buyer.
I don't have any house in mind, and i've not applied for a mortgage yet as I don't have enough of a deposit saved.
I was reading on revenue.ie that there is a Help to Buy scheme. https://www.revenue.ie/en/property/h...ive/index.aspx
Is says that I can claim for a refund on my paid income tax to help with the deposit.
As a first time buyer, I need at least 10% deposit. How would this work if I was able to get some of that deposit from claiming back income tax.
If I was looking at a house for €200,000. I'd need a minimum of €20,000 deposit.
If I had €10,000 saved, and was able to get €10,000 back from revenue, would this satisfy the 10% deposit rule?
The main reason for asking this is I could speed up the process of getting a deposit and I could be looking for a new home sooner.
thanks.
I'm in the process of saving for a deposit on a house, I'm a first time buyer.
I don't have any house in mind, and i've not applied for a mortgage yet as I don't have enough of a deposit saved.
I was reading on revenue.ie that there is a Help to Buy scheme. https://www.revenue.ie/en/property/h...ive/index.aspx
Is says that I can claim for a refund on my paid income tax to help with the deposit.
As a first time buyer, I need at least 10% deposit. How would this work if I was able to get some of that deposit from claiming back income tax.
If I was looking at a house for €200,000. I'd need a minimum of €20,000 deposit.
If I had €10,000 saved, and was able to get €10,000 back from revenue, would this satisfy the 10% deposit rule?
The main reason for asking this is I could speed up the process of getting a deposit and I could be looking for a new home sooner.
thanks.