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

bananas16

Hi all, we paid a booking deposit today on a new home. Very exciting! As far as I understand, this is refundable for 21 days, after which time we would be expected to pay the balance of deposit and sign contracts etc. The estate agent / contractor are still under the impression that we pay the balance of a 10% deposit at this stage, although I'm thinking that we should only have to bring this up to 5%? And the remaining 5% will be paid directly from Revenue to the contractor? Does anyone have any idea when this money should come through as we / contractor / bank are all in the dark as to how the new scheme will actually work in practice. Any advice greatly appreciated!

youcancallmeal

bananas16 wrote: »

Hi all, we paid a booking deposit today on a new home. Very exciting! As far as I understand, this is refundable for 21 days, after which time we would be expected to pay the balance of deposit and sign contracts etc. The estate agent / contractor are still under the impression that we pay the balance of a 10% deposit at this stage, although I'm thinking that we should only have to bring this up to 5%? And the remaining 5% will be paid directly from Revenue to the contractor? Does anyone have any idea when this money should come through as we / contractor / bank are all in the dark as to how the new scheme will actually work in practice. Any advice greatly appreciated!

I'm going through same at the moment too, gone sale agreed(paid booking deposit) on a new house that is just completed and ready to go. I've filled out the help to buy form on ROS myaccount and filled out all the necessary form 12s, waiting now for P21 for 2016 to issue. I think we should then get a notification of what we are eligible for within next 10 days? We have the full 10% deposit but we need the HTB money to make up the difference of the house price we don't have, actually wouldn't have been able to buy this place without it so it's great. KBC, who we are getting our mortgage from, have said they won't actually issue loan offer until we have some proof from revenue that we are eligible for the amount we need to purchase the house.

My understanding of how it's going to work is we will get the confirmation of eligibility within next 2 weeks then get loan offer from KBC and then sign contracts and pay full deposit. After that we can start the claim part of the process with revenue so hoping/guessing that will take another couple of weeks during which we can do the snag list/survey. So I'd guess at some stage between signing contracts and drawing down revenue will pay the money to developer?? Everyone I've talked to really aren't sure how it works so I'm just muddling through trying to figure it out step by step. I suppose it's going to work a bit differently for you if you need it to pay part of the deposit?

bittihuduga

myself and wife are joint applicants for mortgage and house purchase.
we are also jointly assessed for paye.
is it just one of us logon to revenue and submit the details?
or we both have to submit it online?

youcancallmeal

bittihuduga wrote: »

myself and wife are joint applicants for mortgage and house purchase.
we are also jointly assessed for paye.
is it just one of us logon to revenue and submit the details?
or we both have to submit it online?

One of you logs in and does the application then the other person has to login and confirm they are part of the application

andreip

to add another scenario:
myself and wife are joint applicants for mortgage and house purchase.
as my wife is unemployed/home care, no income for last 4 years, no home care tax, should I apply as individual for HTB scheme or we need to apply as group membership?

now if we apply as group membership, my wife needs to register for ROS, but on registration form Tax Type/Approval No and Regn. No./ Id No. are requested. I understand Regn No is her PPSN which is ok, but what tax type from below list should she pick as unemployed who wants to register on ROS to progress with HTB group confirmation....


PAYE-Emp
VAT
Environmental Levy
Income Tax
Corporation Tax
CGT
DWT
DIRT
PSWT
SSIA
IUT
LAET
C&E
CAT
RCT
Betting Duty
Air Travel Tax
EVR
C&E
Charitable Donations
Diesel Rebate
PAYE-Emp
Bank Levy
Tax Clearance
Tax Clearance
Tax Clearance
Tax Clearance
VAT MOSS
MOT
FATCA
DAC2-CRS
FATCA
DAC4-CbC

I'm confused.

CramCycle

andreip wrote: »

to add another scenario:
myself and wife are joint applicants for mortgage and house purchase.
as my wife is unemployed/home care, no income for last 4 years, no home care tax, should I apply as individual for HTB scheme or we need to apply as group membership?

now if we apply as group membership, my wife needs to register for ROS, but on registration form Tax Type/Approval No and Regn. No./ Id No. are requested. I understand Regn No is her PPSN which is ok, but what tax type from below list should she pick as unemployed who wants to register on ROS to progress with HTB group confirmation....

The main question should be whether there is any point. If your partner has paid no tax, I can't see the benefit, just go as a sole applicant. If you think it is important, she would be under the PAYE- employee tab.

andreip

I can apply as a sole applicant, but not sure if this will not impact on stage 2 of HTB process when the contract and mortgage will have both my and mywife name...
I've tried to find on Revenue.ie any details for this particular scenario.

You mentioned "she would be under the PAYE- employee tab.". I you are reffering employee tab of my PAYE profile or her PAYE profile as individual employee?

Many thanks

cronos

andreip wrote: »

I can apply as a sole applicant, but not sure if this will not impact on stage 2 of HTB process when the contract and mortgage will have both my and mywife name...
I've tried to find on Revenue.ie any details for this particular scenario.

You mentioned "she would be under the PAYE- employee tab.". I you are reffering employee tab of my PAYE profile or her PAYE profile as individual employee?

Many thanks

Honestly talking to them on the phone is the best option here. They don't respond very well to My Enquires via online. But you can usually get talking to someone in 5 mins.

CramCycle

andreip wrote: »

You mentioned "she would be under the PAYE- employee tab.". I you are reffering employee tab of my PAYE profile or her PAYE profile as individual employee?

I meant for her registering for revenue my account. I am going from the list of options, I presume that is how my account works. PAYE emp is listed twice I presume one is for employee and one for employer but I was signed up for it automatically so never had those choices.

ShogunWarrior

Agree with the others here FWIW andreip, I'd either file as a sole applicant or try using MyAccount but I would't register for ROS if you can avoid it. At least when we applied for the HTB as a group my partner had to choose a year to file Form 12 and claim rebate to join the group even though I'd paid sufficient taxes alone. Ideally you'd be able to add someone to a group (for the purpose of the rules around clawback when all of the original claimants no longer live there) without them having to file returns for a year but it doesn't seem to be the case.

lunamia

xmazyx wrote: »

Mine took 2 days for it to go through. My understanding is that you need to receive the P21 balancing statement in your PAYE anytime before the Help to buy application will let you submit your application. This took an additional day

Hi xmazyx,

have you:

-Provide the Application and Access codes to your bank so that they can confirm the mortgage details when Revenues ask them to ??

-Provide the Application and Access codes to your builder (or solicitor if you self built) so that they can verify their side of things when Revenue asks them to ??


Do we need to do that as retrospective buyers?

Many thanks

xmazyx

Hi lunamia,

No I haven't given these details to the Bank or the Builder, I assumed that this is just for applicants who are in the process of buying as a means for the Bank to see that the applicants have been approved by revenue for the scheme and the amount they can claim (so that bank knows what amount they can include in the mortgage application) and that the builder can verify what the revenue will pay him on the purchasers behalf.

My assumption is that seeing as I am a retrospective FTB that the official contract from solicitors and the mortgage statement/offer should suffice. However I sent in all paperwork on 6th of January and haven't heard anything since so could be asked for more info yet, I don't think the revenue themselves even know how they are to process these claims.

lunamia

xmazyx wrote: »

Hi lunamia,

No I haven't given these details to the Bank or the Builder, I assumed that this is just for applicants who are in the process of buying as a means for the Bank to see that the applicants have been approved by revenue for the scheme and the amount they can claim (so that bank knows what amount they can include in the mortgage application) and that the builder can verify what the revenue will pay him on the purchasers behalf.

My assumption is that seeing as I am a retrospective FTB that the official contract from solicitors and the mortgage statement/offer should suffice. However I sent in all paperwork on 6th of January and haven't heard anything since so could be asked for more info yet, I don't think the revenue themselves even know how they are to process these claims.

Thanks xmazyx...
I've read those things in here and it sounded weird to me indeed.

I did the same of you, everything completed the 13th,
I think the Revenue doesn't know yet how to manage the claim stage. :mad:

ShogunWarrior

lunamia I provided the codes to our builder and our broker (to pass to the bank) but it's likely that they don't need them since we're retrospective buyers. It's yet to be seen how the builder/developer verification will happen though my builder's secretary said that in their conversations with Revenue it seems like that part isn't built and may not be ready 'til end of Jan.

lunamia

ShogunWarrior wrote: »

lunamia I provided the codes to our builder and our broker (to pass to the bank) but it's likely that they don't need them since we're retrospective buyers. It's yet to be seen how the builder/developer verification will happen though my builder's secretary said that in their conversations with Revenue it seems like that part isn't built and may not be ready 'til end of Jan.

Yes... I think it'll be mid February to get the money back...

pilly

andreip wrote: »

to add another scenario:
myself and wife are joint applicants for mortgage and house purchase.
as my wife is unemployed/home care, no income for last 4 years, no home care tax, should I apply as individual for HTB scheme or we need to apply as group membership?

now if we apply as group membership, my wife needs to register for ROS, but on registration form Tax Type/Approval No and Regn. No./ Id No. are requested. I understand Regn No is her PPSN which is ok, but what tax type from below list should she pick as unemployed who wants to register on ROS to progress with HTB group confirmation....


PAYE-Emp
VAT
Environmental Levy
Income Tax
Corporation Tax
CGT
DWT
DIRT
PSWT
SSIA
IUT
LAET
C&E
CAT
RCT
Betting Duty
Air Travel Tax
EVR
C&E
Charitable Donations
Diesel Rebate
PAYE-Emp
Bank Levy
Tax Clearance
Tax Clearance
Tax Clearance
Tax Clearance
VAT MOSS
MOT
FATCA
DAC2-CRS
FATCA
DAC4-CbC

I'm confused.

PAYE Employee.

I would imagine it is beneficial to you to register your wife. Do you not claim her tax credits?

andreip

pilly wrote: »

PAYE Employee.

I would imagine it is beneficial to you to register your wife. Do you not claim her tax credits?

Thanks for reply.

Well, as she's a house wife/house care, no income on her side for more than 3 years, so no reason to claim any tax.
She's mentioned on my Revenue taxes, so I presume all her taxes are from my income.
But she doesn't have a PAYE or ROS accounts, only I have PAYE account

The_Conductor

andreip wrote: »

Thanks for reply.

Well, as she's a house wife/house care, no income on her side for more than 3 years, so no reason to claim any tax.
She's mentioned on my Revenue taxes, so I presume all her taxes are from my income.
But she doesn't have a PAYE or ROS accounts, only I have PAYE account

This isn't the right place to discuss tax- but the point being made was your wife has tax credits that she can transfer to you- if she does not have income of her own to offset the credits against. I.e. if you contact the Revenue Commissioners and transfer her credits to you- your net pay will increase by a commensurate amount...........

If you want to discuss this- we have a taxation forum which would be the appropriate place to query it.

pilly

andreip wrote: »

Thanks for reply.

Well, as she's a house wife/house care, no income on her side for more than 3 years, so no reason to claim any tax.
She's mentioned on my Revenue taxes, so I presume all her taxes are from my income.
But she doesn't have a PAYE or ROS accounts, only I have PAYE account

Okay so she needs to get set up on ROS then. By the sounds of it your jointly assessed.

Fartbox

I rang them & asked. The said do the before the 31st of Dec one. As it's to be refunded to you if you paid the deposit.

My contractor isn't registered. I'm freaked.

Mine contract was signed early December and deposit paid, but the other solicitor cosigned Jan. But the date is January all over the documents, we didn't date our signatures.
The revenue can't give me straight answer on that though.
I hadn't see the co signed copy when I asked

Fartbox

Was your contractor registered? Mine isn't

There was only 7 on the list today.

davidsr20

I'm also on the stage where it says app under review and I have a code. I didn't not send in any paperwork yet as it didn't ask me too yet. Revenue told me they have no idea how to process the app yet and to sit tight they would get back to me. Is there any point sending in the paperwork yet as it will prob ask us too on the next stage?

PedroDublin

davidsr20 wrote: »

I'm also on the stage where it says app under review and I have a code. I didn't not send in any paperwork yet as it didn't ask me too yet. Revenue told me they have no idea how to process the app yet and to sit tight they would get back to me. Is there any point sending in the paperwork yet as it will prob ask us too on the next stage?

Same situation here, it has been under review for ten days now. I called them and they told me to wait. Anyway I created an enquiry and send all information already, as I have it I don't mind sending it in advance as they give you the application reference.

morrga

PedroDublin wrote: »

Same situation here, it has been under review for ten days now. I called them and they told me to wait. Anyway I created an enquiry and send all information already, as I have it I don't mind sending it in advance as they give you the application reference.

How do you get your application reference number or do you create in the my enquiries page? My wife and I still haven't been able to join our application together i.e. cant see where to accept the others request.

PedroDublin

morrga wrote: »

How do you get your application reference number or do you create in the my enquiries page? My wife and I still haven't been able to join our application together i.e. cant see where to accept the others request.

I created on myaccount on revenue.ie, clicking on help to buy. I put her data and when she logged in she had the request to accept it. When you complete the application it gives you a reference number, something like A0000xxx, and is displayed when you log back below the text that says the application is under review

davidsr20

PedroDublin wrote: »

Same situation here, it has been under review for ten days now. I called them and they told me to wait. Anyway I created an enquiry and send all information already, as I have it I don't mind sending it in advance as they give you the application reference.

What paperwork did u send in? We signed contract but I don't have a copy yet. We signed in November house ready march.

bridie

Hi,

Just wondering if anyone can tell me what builders are actually registered at the moment for the scheme?

Thanks

Innervision

There's a link to a pdf with the list of contractors who have already registered on this page: http://www.revenue.ie/en/tax/it/reliefs/htb/index.html#section5

PedroDublin

davidsr20 wrote: »

What paperwork did u send in? We signed contract but I don't have a copy yet. We signed in November house ready march.

Copy of the signed contract, letter from the bank with the mortgage offer, and a word document answering all the requirements they asked for

davidsr20

PedroDublin wrote: »

Copy of the signed contract, letter from the bank with the mortgage offer, and a word document answering all the requirements they asked for

Great. Where do I find the word document