In Budget 2017, I announced a "Help to Buy" initiative which will provide an income tax rebate to first time buyers to assist them in getting the deposit for their first home, as required under the Central Bank's macro-prudential mortgage rules. This scheme is a complement to the structural actions in the Action Plan for Housing and Homelessness published on 19th July 2016, and applies to both self-build and new build homes. In the case of a self-build, applicants who drew down the first tranche of their mortgage on or after 19 July 2016 will be eligible.
There are a range of criteria that a first-time buyer must meet in order to be eligible for a rebate of income tax under this initiative. The full details of these criteria will be set out in the Finance Bill.