Mortgage advice: How much deposit is required?

NEW HOMES special report: You would need a deposit of €30,000 for a home costing €300,000, but the Help-to-Buy scheme helps reduce that minimum deposit

Under the Help-to-Buy scheme, borrowers are entitled to a tax rebate of up to 10% of the purchase price of the house (up to a maximum amount of €30,000) under the scheme which runs until the end of 2020.

You will need a minimum amount of 10% of the price of your home and a higher deposit amount will get you a better mortgage rate.

The recently enhanced Help-to-Buy scheme (HTB) also has the benefit of being able to effectively reduce the minimum deposit amount required with most lenders now – a point to check with your lender. Borrowers are entitled to a tax rebate of up to 10% of the purchase price of the house (up to a maximum amount of €30,000) under the scheme which runs until the end of 2020.