Budget 2027 increased the maximum Help to Buy (HTB) relief for first-time buyers from €25,000 to €30,000, a €5,000 uplift aimed at supporting home ownership amid elevated property prices. However, the measure applies only to contracts signed on or after 1 January 2027, creating a cliff-edge for applicants who signed contracts in late 2026 but have not yet drawn down their mortgage. Revenue Commissioners have clarified that the enhanced relief is not retrospective, prompting anxiety among thousands of buyers in the pipeline. The scheme remains subject to the 10% of property price cap and the requirement that the property be the buyer’s principal private residence.
Key Takeaways
- Eligibility Cut-off: Only contracts signed from 1 January 2027 qualify for the higher €30,000 limit; earlier contracts remain capped at €25,000 regardless of drawdown date.
- Administrative Burden: Solicitors and mortgage advisors report a surge in queries from clients seeking to delay contract signing until 2027, potentially slowing property transactions in Q4 2026.
- Interaction with First Home Scheme: The HTB uplift stacks with the First Home Scheme equity share, but combined support cannot exceed the property price; buyers must coordinate both applications to maximise benefit.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement