Effects of ending the help-to-buy scheme

The help-to-buy scheme was designed to help first time buyers buy a home. First time buyers are encouraged to buy property through the help-to-buy scheme by refunds of income tax and deposit interest retention tax paid over the last four years. The help-to-buy scheme allows purchasers to claim a rebate  tax already paid of income up to €20,000 depending on the value of the property.

There is a move to end the help-to-buy scheme. This would be detrimental to the housing market. Figures have shown that more than 80% of all first time buyers are relying on the scheme to buy a home.

However, the scheme is scheduled to end at the end of 2019. The government has given no indication of an extension of the help-to-buy scheme.

According to theBanking and Payments Federation, 84% of new property purchases were made by first time buyers with the support of the help to buy scheme. Furthermore, chief economist, Dr Ali Ugur, claimed that the help-to-buy scheme was important for market stability. It was a key component in helping housing supply increase and …

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The Last Word on Today FM talk to Irish Mortgage Brokers

The Last Word hosted by Matt Cooper featured Irish Mortgage Brokers and the Independent’s Paul Melia to discuss issues around social housing and indebtedness.

Paul Melia had researched the outcome of 1,700 social houses that were promised last year and found that none of them had been commenced, this is in our opinion the kind of high quality journalism that leads to greater public accountability.

The radio clip beings with a conversation between Matt and Paul where the issues for non-delivery are covered.

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