A rebuilding Ireland home loan is a government backed mortgage available to first time buyers who must have been rejected previously by at least two other mortgage providers for a mortgage application. The loan is subject to a 90% loan to value limit and the maximum value of the relevant property is €320,000 in Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow. The maximum property value is €250,000 in all other places.
The rebuilding Ireland home loan is not restricted to new build properties, but if the property is a new build, the borrower may also be able to avail of the Help to Buy scheme as these two government schemes are not mutually exclusive. The Help to Buy scheme which is due to expire on 31 December 2019 provides a rebate of up to 5% of the purchase price in income tax and deposit interest retention tax you have paid in the previous 4 years. We have experience of the rebuilding Ireland home loan mortgage and the help to buy scheme and we would be happy to discuss further.