Just 129 get aid under Help to Buy programme

JUST 129 first-time buyers have successfully availed of the Help to Buy scheme, and more than 3,000 applications are waiting approval.

The scheme, where new home buyers receive 5% of the cost of their homes up to the value of €400,000, was expected to help 2,000 first-time buyers a year.

The grant was announced in July 2016 and the application process was officially opened in January.

But critics have said the scheme is dogged by red tape and say there has been a low level of takeup by house builders.

Figures supplied by the Revenue Commissioners reveal that to date, two thirds of applications have not passed the initial stage.

Independent TD Mattie McGrath said, ‘This was supposed to be a flagship Government response to the housing crisis. It is not delivering.’

The Department of Finance did not respond to requests for comment this week.