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

lynchyt

Hi all,

I'm at the stage where i have to upload contracts, loan offer etc.
Does anybody know do these contracts have to be signed by both ourselves and the developer before being uploaded or can i upload with just our own signatures?

Jeffy17

lynchyt wrote: »

Hi all,

I'm at the stage where i have to upload contracts, loan offer etc.
Does anybody know do these contracts have to be signed by both ourselves and the developer before being uploaded or can i upload with just our own signatures?

People have previously advised they uploaded contracts without both signatures and that sufficed

lynchyt

Jeffy17 wrote: »

People have previously advised they uploaded contracts without both signatures and that sufficed

Brilliant, thanks a million, much appreciated

bible

maxamillius wrote: »

Hi Guys,

I just bought a house and have drawn down mortgage etc. Is it still possible to apply for this and get the money retrospectively? Could have done with this at
The time but stupidly never looked into it.

Thanks

Good question. I'm curious on it too.

conf101

Jeffy17 wrote: »

People have previously advised they uploaded contracts without both signatures and that sufficed

Do you knof that's the same for the loan offer? Does it have to be a signed loan offer?

manniot2

We put a deposit on one of these houses in phase 2. We are first time buyers so getting the tax rebate. However on revenue.ie it says our application will expire on 31 Dec17. I wonder does anyone know what happens if we have not drawn down the relief by then? Do we need to reapply to revenue and if so will we need to wait for 2017 P60s to come through etc. thanks

Graham

manniot2 wrote: »

We put a deposit on one of these houses in phase 2. We are first time buyers so getting the tax rebate. However on revenue.ie it says our application will expire on 31 Dec17. I wonder does anyone know what happens if we have not drawn down the relief by then? Do we need to reapply to revenue and if so will we need to wait for 2017 P60s to come through etc. thanks

Mod Note: Manniot2, I have moved your post to the HTB thread where you may get more answers to your question

Jeffy17

manniot2 wrote: »

We put a deposit on one of these houses in phase 2. We are first time buyers so getting the tax rebate. However on revenue.ie it says our application will expire on 31 Dec17. I wonder does anyone know what happens if we have not drawn down the relief by then? Do we need to reapply to revenue and if so will we need to wait for 2017 P60s to come through etc. thanks

If contracts are signed (with Letter of Offer etc completed) before the 31st of December then there's no issues, if you don't you will have to reapply in the New Year where 2017 tax year will be taken into account

awec

You'll need your P60 / Form 12 to come through before you can apply again using the 2017 tax year I think.

jack_frost_09

Jeffy17 wrote: »

If contracts are signed (with Letter of Offer etc completed) before the 31st of December then there's no issues, if you don't you will have to reapply in the New Year where 2017 tax year will be taken into account

On this, just wondering if one can sign contracts and loan offer etc. in 2017 but wait until 2018 to claim the HTB using tax year 2017 as part of the rebate?

Jeffy17

jack_frost_09 wrote: »

On this, just wondering if one can sign contracts and loan offer etc. in 2017 but wait until 2018 to claim the HTB using tax year 2017 as part of the rebate?

My understanding is if you sign contracts in 2017 then your last year you can use is 2016.

Daniogroove

jack_frost_09 wrote: »

On this, just wondering if one can sign contracts and loan offer etc. in 2017 but wait until 2018 to claim the HTB using tax year 2017 as part of the rebate?

That should be fine. The contracts and htb are two seperate things. You don't need to use the htb so i don't why it would matter. Best to call paye revenue and ask.

tusk

Hi Guys,

We are approved for HTB with expiry of 31/12/2017. We're waiting on contracts, so it could potentially be signed after this date. Do you know what this means? Would we have to reapply to HTB?

Would it just be a case of renewing the existing one?

Cheers!

Daniogroove

tusk wrote: »

Hi Guys,

We are approved for HTB with expiry of 31/12/2017. We're waiting on contracts, so it could potentially be signed after this date. Do you know what this means? Would we have to reapply to HTB?

Would it just be a case of renewing the existing one?

You'll need to reapply using 2017 instead of 2012... if you don't get them in before the year is out. Depending in your conditions it may affect your potential claim amount.

jack_frost_09

Jeffy17 wrote: »

My understanding is if you sign contracts in 2017 then your last year you can use is 2016.

Daniogroove wrote: »

That should be fine. The contracts and htb are two seperate things. You don't need to use the htb so i don't why it would matter. Best to call paye revenue and ask.

Thanks for your thoughts guys! Seem to be slightly different schools of thought on this - guess we'll just have to wait or maybe ask revenue...
Will keep you posted if I get a definitive answer!

swarcodesign

We have started our application for HTB and now the status is under review. Anyone any idea how long this review stage takes??

Daniogroove

swarcodesign wrote: »

We have started our application for HTB and now the status is under review. Anyone any idea how long this review stage takes??

Only a few days but you'll have to reapply in January unless you lodge your claim before the end of the year.

November16

Hi all,

Hoping someone might know the answer to my q!

My partner and I are in the process of purchasing a home and I'm eligible for the full amount of €20,000 however my partner has only paid income tax in Ireland for the past 18 months so he would only be eligible for a portion of the 4 years. Does anyone know how it works in that scenario? Would we still get the €20,000 or would it be €10,000 on my behalf and day €2,500 on his behalf?

Thanks in advance

Klonker

November16 wrote:

My partner and I are in the process of purchasing a home and I'm eligible for the full amount of €20,000 however my partner has only paid income tax in Ireland for the past 18 months so he would only be eligible for a portion of the 4 years. Does anyone know how it works in that scenario? Would we still get the €20,000 or would it be €10,000 on my behalf and day €2,500 on his behalf?

Can make up the 20k/5% anyway you want, one person can claim it all so in your case you'd get the 20k.

GingerLily

We split our's up 80/20, is very straightforward to do at the time they ask.

*FireCracker*

awec wrote: »

You'll need your P60 / Form 12 to come through before you can apply again using the 2017 tax year I think.

Does anyone know if this is definitely the case?

I'm applying for a mortgage in Jan.

I had been concerned about having to wait on a P60 in 2018 before being able to process stage one of the HTB application.

I contacted Revenue a couple of months ago and asked them about this. They advised that if I applied at the end of 2017 the application would be valid for 6 months.

On this basis I had planned on making my application this weekend so as to max it out to almost June 2018.

Have I been misinformed by the Revenue agent I spoke with?

Daniogroove

*FireCracker* wrote: »

Does anyone know if this is definitely the case?

I'm applying for a mortgage in Jan.

I had been concerned about having to wait on a P60 in 2018 before being able to process stage one of the HTB application.

I contacted Revenue a couple of months ago and asked them about this. They advised that if I applied at the end of 2017 the application would be valid for 6 months.

On this basis I had planned on making my application this weekend so as to max it out to almost June 2018.

Have I been misinformed by the Revenue agent I spoke with?

It sounds like you have but it's possible though I suppose. You'll need your p60 in January for the mortgage application anyways so you may as well just wait.
Unless you have a holding deposit down on a new build before you apply for the mortgage I'm pretty sure the HTB won't matter to your application.

*FireCracker*

Daniogroove wrote: »

It sounds like you have but it's possible though I suppose. You'll need your p60 in January for the mortgage application anyways so you may as well just wait.
Unless you have a holding deposit down on a new build before you apply for the mortgage I'm pretty sure the HTB won't matter to your application.

It was more with regard to proving that we qualified for it to the bank. I think I'll give Revenue a call again.

Re' a P60 for the mortgage application I assumed my most recently issued P60 rather than a P60 for the year just gone would have sufficed. I guess I'll find out...

*FireCracker*

Hmmm.

Spoke to a Revenue agent there who said that the application is valid for 12 months from the date of application.

He said if I applied today it would be valid until 06/12/2018.

mick2311

*FireCracker* wrote: »

Hmmm.

Spoke to a Revenue agent there who said that the application is valid for 12 months from the date of application.

He said if I applied today it would be valid until 06/12/2018.

that is definitely incorrect I only applied 2 months ago and the expiration date is 31/12/2017. You can reapply on the first of January, you just won't be able to use 2017s tax untill the p60 is in but if you paid enough in 2014,2015 and 2016 to accumulate the full benifet then this wouldn't be an issue.

*FireCracker*

mick2311 wrote: »

that is definitely incorrect I only applied 2 months ago and the expiration date is 31/12/2017. You can reapply on the first of January, you just won't be able to use 2017s tax untill the p60 is in but if you paid enough in 2014,2015 and 2016 to accumulate the full benifet then this wouldn't be an issue.

Yeah I don't believe them myself TBH.

I think I'll still make an application now so I can at least show the bank that I've previously been approved come January!

*FireCracker*

Good point about only claiming the 3 years. I must see where I stand with that numbers wise.

MSVforever

After loads of messing around with Revenue (they messed up our taxes, credits etc) their system wouldn't let us continue with the application process. As result we re-applied last Friday and our HTB is only valid until the 31st March 2018. By the time we will have at least our 2017 P60 if we need to re-apply.

*FireCracker*

MSVforever wrote: »

After loads of messing around with Revenue (they messed up our taxes, credits etc) their system wouldn't let us continue with the application process. As result we re-applied last Friday and our HTB is only valid until the 31st March 2018. By the time we will have at least our 2017 P60 if we need to re-apply.

Interesting.

Did the system automatically give you that end date or was it manually processed for you?

MSVforever

*FireCracker* wrote: »

Interesting.

Did the system automatically give you that end date or was it manually processed for you?

It was processed automatically.