First time buyers are being urged to apply for the improved Help-to-Buy scheme.

Fine Gael Minister, Colm Brophy, made the call and encouraged buyers who are waiting on a decision to contact the Revenue.

He said: "The Help-to-Buy scheme is designed to stimulate demand from first time buyers for new houses in the housing market, to encourage house completions and to assist first time buyers in accumulating a deposit for a new home.

"Changes have been made to the scheme as part of the July Stimulus, the Government’s plan to help boost Ireland’s economy in the context of COVID-19.

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"These changes have been promoted by Fine Gael for quite some time and were included in our election manifesto. It means that first time buyers can avail of increased support, whichever is the lesser option of:

• €30,000 (increased from €20,000)

• 10 per cent (increased from 5 per cent) of the purchase price of a new home/self-build property

• The amount of Income Tax and DIRT paid in the four years before the purchase or self-build

"Revenue is currently updating the system to give effect to the new enhanced Help-to-Buy relief. Current applicants who had applied before the enhanced scheme was announced may be entitled to the enhanced relief so it’s important they clarify this with Revenue to ensure they don’t miss out on the increased level of support.

"Where applicants have made an application with Revenue but believe they may satisfy the requirements of the newly enhanced relief, then, when the Revenue system is updated to cater for the new enhanced relief, the applicants will need to cancel their original application and reapply to avail of the increased relief."