Dáil Éireann Debate, Tuesday - 27 July 2021
622. Deputy Cathal Crowe asked the Minister for Housing, Local Government and Heritage if further schemes will be introduced to help solo buyers who are endeavouring to get on the property ladder; and if he will make a statement on the matter. [39404/21]
Amharc ar fhreagraA number of measures are currently in place for individuals seeking to purchase or self-build their first home.
The Help to Buy Scheme may return tax paid in the previous four years (up to a maximum amount of €30,000) to eligible first-time homeowners purchasing or self-building a new home. Further information on this support is available online at: www.revenue.ie/en/property/help-to-buy-incentive/index.aspx.
The Rebuilding Ireland Home Loan is another support for first-time homeowners, including self-builds. This scheme enables access to sustainable mortgage lending to purchase new properties, or finance self-builds, or purchase second-hand properties, in a suitable price range. To avail of this support, applicants need to have sufficient borrowing and repayment capacity and must be capable of repaying the mortgage. Further information on the Rebuilding Ireland Home Loan is available at http://rebuildingirelandhomeloan.ie/.
In addition to the above substantial supports, the Affordable Housing Act 2021, which was enacted on 21 July 2021, is the first ever standalone affordable housing legislation. The provisions of the Act establish the basis for four new affordable housing measures.
These measures will deliver on the Programme for Government commitment to put affordability at the heart of the housing system and prioritise the increased supply of affordable homes through (1) delivering affordable homes on local authority lands, (2) the introduction of a new form of tenure in Cost Rental, (3) a new affordable purchase shared equity scheme and (4) expanding Part V planning requirements to increase the 10% contribution requirement to 20% and to apply it to cost rental as well as social and affordable housing.
The Government’s ‘Housing for All Strategy’ which will be published in the coming weeks will establish provide further details on the above supports.
