Help-to-Buy: Initial Deposit Amount

[RianKay]

All,

I have query regarding the help-to-buy scheme and the initial deposit requirements (assuming a new built prop and am taking min 80% loan)
Q1) Is below understanding correct.

New Built Property Price: € 300K
Original Initial Deposit required: € 38K
Less Help-to-Buy Rebate: €15K
New Initial Deposit Required: (38-15) => € 23K
Is this € 23K correct or Do I still need to have € 38K initial deposit funds?

Q2) Do we have clear info if the Govt and Developer are going to deal about the rebate and initial deposit?
Q3) Or is it that banks are going to give additional loan considering Govt would cover that 5% price?
Q4) Do we know if there clear T&C already published?

 

[Merowig]

On your first question - I spoke yesterday to a mortage adviser of AIB and she told me that the Tax rebate won't change the initial deposit required.