Thursday, 5 July 2018

Questions (82)

Catherine Murphy

Question:

82. Deputy Catherine Murphy asked the Minister for Finance the number of help-to-buy grant approvals on a monthly basis since the scheme was launched up to 29 June 2018; the number of drawdowns in this regard since the scheme was introduced to 29 June 2018; and if he will make a statement on the matter. [29719/18]

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Written answers (Question to Finance)

I assume that the Deputy is seeking the number of applications received, the number of applications that reached claim stage and the number of claims approved under the Help to Buy (HTB) scheme, since its inception in July 2016.

There are two stages involved in the Help to Buy Incentive process. Stage 1 is the application stage, wherein prospective applicants can query whether they qualify for the incentive. They can also get clarity on the maximum amount of rebate they could potentially benefit from, based on their tax paid in a four-year period. Stage 2 is the claims stage, wherein applicants that decide to proceed with purchasing or building a qualifying property must provide documentary evidence of the relevant property transaction or their mortgage draw down.

I am advised by Revenue that the monthly breakdown of this data is as set out in the following tables.

Applications Received

Month

Monthly

Cumulative

March 2017

3,856*

3,856

April 2017

1,162

5,018

May 2017

850

5,868

June 2017

1,044

6,912

July 2017

1,094

8,006

August 2017

845

8,851

September 2017

778

9,629

September 2017

918

10,547

October 2017

820

11,367

November 2017

618

11,985

December 2018

379

12,364

January 2018

1,110

13,474

February 2018

1,257

14,731

March 2018

862

15,593

April 2018

1,101

16,694

May 2018

736

17,430

Reached Claim Stage

Month

Monthly

Cumulative

March 2017

614*

614

April 2017

535

1,149

May 2017

405

1,554

June 2017

483

2,037

July 2017

615

2,652

August 2017

495

3,147

September 2017

478

3,625

September 2017

463

4,088

October 2017

399

4,487

November 2017

454

4,941

December 2018

451

5,392

January 2018

255

5,647

February 2018

358

6,005

March 2018

417

6,422

April 2018

488

6,910

May 2018

429

7,339

Number of Claims Approved

Month

Monthly

Cumulative

March 2017

260*

260

April 2017

405

665

May 2017

380

1,045

June 2017

437

1,482

July 2017

553

2,035

August 2017

494

2,529

September 2017

469

2,998

September 2017

453

3,451

October 2017

431

3,882

November 2017

520

4,402

December 2018

422

4,824

January 2018

336

5,160

February 2018

369

5,529

March 2018

394

5,923

April 2018

430

6,353

May 2018

427

6,780

*It should be noted that the relief was first made available for individuals who purchased or built between 19 July 2016 and 31 December 2016 with effect from 1 January 2017 onwards. As a result of the processing timeline, the first data for March 2017 is the cumulative figure of applications and claims up to that point.