2017-21 help to buy scheme - megathread. All help to buy discussion here please

C14N

Damo 2k9 wrote: »

Hi all, apologies if it has been covered but I went back to page 250 and could only find one post about it.

Myself and my partner are HTB approved for just shy of 23k as a joint application. I can avail of 10k and herself 12-13k.

We have each went back and calculated taxes paid in the last 4 years through our SOL on revenue website and both add up to approx 50k in taxes together over the last 4 years. Yet, we are still only approved for 23k of a max 30k.

Has anyone else experiences similar? We have an enquiry in with Revenue but god knows how long that will take. Appreciate any info.

Does it count all tax? I thought it was just for PAYE (after tax credits are deducted), not USC or PRSI.

Fresz19

Someone explain to me why is this called the Help to Buy and not Help to Build scheme?

ec18

Fresz19 wrote: »

Someone explain to me why is this called the Help to Buy and not Help to Build scheme?

because it's supposed to help you buy?

C14N

ec18 wrote: »

because it's supposed to help you buy?

I assume what they're saying is that in practice, it's not that helpful for buying houses. I see what they mean to. A very tiny number of houses available on the market can qualify for the scheme, since it's limited to new builds only, and then only ones outside Dublin, where around 1/3 of the country lives. But new builds are much easier to get with it. If you own a plot of land you can build a house on (especially easy if you live rurally) then the scheme is far more helpful for you than for someone looking to just "buy" a house.

newhouse87

Got my first drawdown into my account yesterday, i had previously sent my application number to my solicitor, how do i go about claiming now, is it up to my solicitor to sort some things?

cheezums

newhouse87 wrote: »

Got my first drawdown into my account yesterday, i had previously sent my application number to my solicitor, how do i go about claiming now, is it up to my solicitor to sort some things?

give your solicitor this:

https://www.revenue.ie/en/property/documents/htb-summary-solicitors.pdf

newhouse87

cheezums wrote: »

give your solicitor this:

https://www.revenue.ie/en/property/documents/htb-summary-solicitors.pdf

Cheers, is is the letter of offer i must upload to get my claim number?

newhouse87

So i have an approved claim from help to buy, does that mean i uploaded all they wanted and will be getting the 30k shortly?

el Fenomeno

newhouse87 wrote: »

So i have an approved claim from help to buy, does that mean i uploaded all they wanted and will be getting the 30k shortly?

You never get the money, just to clarify.

The developer/builder claims the money around the same time you draw down.

newhouse87

el Fenomeno wrote: »

You never get the money, just to clarify.

The developer/builder claims the money around the same time you draw down.

Im self building, so im getting the money into my bank account.

el Fenomeno

newhouse87 wrote: »

Im self building, so im getting the money into my bank account.

Ah, I don't know anything about that then. Apologies.

cheezums

newhouse87 wrote: »

So i have an approved claim from help to buy, does that mean i uploaded all they wanted and will be getting the 30k shortly?

once your solicitor has gone in and verified stuff, they may ask you for one or two more documents and that's it then. check the portal regularly for enquiry messages.

newhouse87

cheezums wrote: »

once your solicitor has gone in and verified stuff, they may ask you for one or two more documents and that's it then. check the portal regularly for enquiry messages.

yeah got message saying claim approved but didnt think i added in all documents such as drawdown proof whereby i only uploaded email from bank saying funds had been released, wasnt sure if that would suffice. With they way Eoin o broin is talking can see help to buy getting more stricter in future.

irish_major

I have been self employed the past few years but am permanently employed this year in a well paying job. I have 18k to claim on the HTB scheme but the house i'm about to put a booking deposit on will not be built until the summer of next year and if this years tax was taken into account I'd get the full 30k.

Can i wait until next year to claim the HTB? I realise it says it's ending this year but it will certainly be extended in the budget.

raze_them_all_

Any chance of this being extended another year, am approved for it, but won't get a chance to start the build this year as can't find a builder

Ahlisten

How long have peoples applications taken to process? I applied about 2 weeks ago and I am just wondering about the time lines. I cleared an underpayment due today of a lovely 870 from last year. Just phoned them up, they told me everything due and was handy enough. Hoping it will help speed me up in the long run....

DubLad69

How long does it generally take to go from HTB approved and contracts uploaded to the developed receiving the payment?

Is it something that could potentially slow down the closing of a sale, or is it done within a few days?

Blaa.boy

Hi just wondering is anyone "under review" for 3-4 weeks. How long does it generally take to get amount you qualify for?

HerrKapitan

https://www.boards.ie/discussion/comment/117787056#Comment_117787056

It depends on the builder to claim. We are 2 months+ since contracts signed, and the builder still hasn't claimed.

wsarah

Has anyone had any experience of buying a new build from a contractor who is not already registered? Our solicitor thinks we can go ahead and do it as self build and claim the money into our account and then transfer as deposit to builder. Would this work? We are just under serious time pressure for builder to register and then also go through the whole claim process.

TBD_1983

Hi All, need some advice. I’ve been approved HTB. My solicitor recommended waiting until Jan to draw down as I will have more tax then and house won’t be complete until then. I will reapply then. I’ve signed contracts on a house and paid deposit in full with my own funds.

my question - the balance on house after mortgage is less than the 20k I have with HTB. 6k left - What happens to that? My solicitor said it goes to me but how when the builder is the person who does the htb drawdown, does he take the balance and whatever left is send back to your solicitor? This is melting my brain and I don’t want my solicitor to charge me extra time for asking this question.

Ron Burgundy II

HTB expires end of 2021. If not drawn down by end of the year you lose it AFAIK. No plans to extend unless they announce something in the budget. But with the shared equity scheme announced it is likely that the HTB will not continue into the new year.

Have no idea on time scale - would like to know the answer to this as I got a payrise midway through the year and would be entitled to a few more euros

conal08

Hi,

My HTB claim was approved on 28th April "Your Help to Buy Claim has been verified by your solicitor or building contractor. Your HTB refund will issue in due course." Just to clarify, this won't be refunded until we draw down when the house is completed (October)? Or should I contact revenue given it hasn't been refunded yet.. Thanks!

Bubbaclaus

https://www.boards.ie/discussion/comment/117834259#Comment_117834259

Are you sure it hasn't issued already back in April? It normally issues to the builder shortly after that approval.

After reading an article on the journal it sounds like they are planning on extending the HTB next year but it will not be announced until October's budget.

Leftwaffe

If doing a self-build, do we have to chose from the registered list of HTB contractors? Or can we pick any contractor? Thanks.

Shivvs

I’m wondering has anybody else been in a similar position with the HTB scheme, now maybe I just wasn’t paying attention but I just realised that to be eligible for HTB your mortgage has to be at least 70% of the home value - because of central bank rules my maximum mortgage available to me will be less than this so I won’t be entitled to HTB?

Bubbaclaus

https://www.boards.ie/discussion/comment/117846225#Comment_117846225

Yes. The logic being that you don't need any help to buy if you have more than 30% of a deposit already.

conal08

https://www.boards.ie/discussion/comment/117834705#Comment_117834705

I contacted revenue and they told me it did issue to the builders solicitor but I didn't hear from them either. I assume that on drawdown the builder will issue the refund to us?

Bubbaclaus

https://www.boards.ie/discussion/comment/117854530#Comment_117854530

What refund are you expecting?