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

Bargain_Hound

Absolutely. That is the purpose of the scheme. It can be used to make up part of your minimum 10% deposit (10% as a first time buyer).

You will still required to show how you saved/obtained the balance of the deposit.

redmond08 wrote: »

So I submitted my form 12 last night for the past 4 years but I can't go any further to submit my application. It nows says.

"According to our records you have the following liabilities and/or returns due:

P21 not requested"

So I go to request it and it only allows me to view it. Do I have to wait for revenue to approve my form 12 before I can request it?

Thanks again!

My form 12 was approved & p21 issued by the following morning after my form 12 was submitted. This then allowed me to submit the HTB application. This was approved instantly giving me the amount & access codes. Very quick once all the tax business was sorted.

redmond08

Everything came through this morning and we got it thanks everyone for your information and help. We're going to see the bank tomorrow, so fingers crossed. If we get rejected by 2 banks, can we use this HTB for the rebuilding Ireland home loan (Mortgage with the council)?

conf101

redmond08 wrote: »

Everything came through this morning and we got it thanks everyone for your information and help. We're going to see the bank tomorrow, so fingers crossed. If we get rejected by 2 banks, can we use this HTB for the rebuilding Ireland home loan (Mortgage with the council)?

As far as I know it would depend on why you get rejected. If you didn't meet the 3.5 times salary requirement for the amount you're looking to borrow you'd probably still be able to get the rebuilding Ireland loan. But if, for example, you had big gambling debts or something, then I'd imagine the rebuilding Ireland loan would also refuse you.

SNNUS

redmond08 wrote: »

Everything came through this morning and we got it thanks everyone for your information and help. We're going to see the bank tomorrow, so fingers crossed. If we get rejected by 2 banks, can we use this HTB for the rebuilding Ireland home loan (Mortgage with the council)?

Yes you can

dellas1979

Ive posted a few times in here, but no replies :-(

I applied for the HTB a week ago (am building). For the last week, the status has remained the same "Under Review".

Did it take a long time for them (Revenue) to come back to ye?

Thanks!

conf101

dellas1979 wrote: »

Ive posted a few times in here, but no replies :-(

I applied for the HTB a week ago (am building). For the last week, the status has remained the same "Under Review".

Did it take a long time for them (Revenue) to come back to ye?

Thanks!

Mine only took a couple of days, but I'm buying a new build, not self-building, if that makes any difference. Did you try calling Revenue?

sightband

dellas1979 wrote: »

Ive posted a few times in here, but no replies :-(

I applied for the HTB a week ago (am building). For the last week, the status has remained the same "Under Review".

Did it take a long time for them (Revenue) to come back to ye?

Thanks!

you’ve been waiting a week for a response on a single build with legal and personal finances to be reviewed from a governemnt department? is this what you are asking?

sightband

dellas1979 wrote: »

Ive posted a few times in here, but no replies :-(

I applied for the HTB a week ago (am building). For the last week, the status has remained the same "Under Review".

Did it take a long time for them (Revenue) to come back to ye?

Thanks!

you’ve been waiting a week for a response on a single build with legal and personal finances to be reviewed from a governemnt department? is this what you are asking?

dellas1979

conf101 wrote: »

Mine only took a couple of days, but I'm buying a new build, not self-building, if that makes any difference. Did you try calling Revenue?

Thanks. I have. No real answers. Just trying to make decisions here. But I cant unless I know how much am eligible to get back.

dellas1979

sightband wrote: »

you’ve been waiting a week for a response on a single build with legal and personal finances to be reviewed from a governemnt department? is this what you are asking?

Am asking people who have done the HTB process with Revenue, how long it took them to at least know they are eligible and how much for.

Its just been over a week actually since I applied.

d0157063

the logic is - if you paid more than 20K taxes in last 4 years, then you are eligible for max amount which is 20K. Friend of mine earns ~ 75K a year and Revenue told him he can avail max amount by selecting only last 2 of 4 years. Hope this answers

autumnbelle

I applied about a week ago I rang them and they said delay is cos our status changed as we got married so she doesn't know how long that will delay application

sightband

dellas1979 wrote: »

Am asking people who have done the HTB process with Revenue, how long it took them to at least know they are eligible and how much for.

Its just been over a week actually since I applied.

ok, my advice is to give it another week, and the. potentially another. then, maybe contact them.

dellas1979

vikas.kshatriya wrote: »

the logic is - if you paid more than 20K taxes in last 4 years, then you are eligible for max amount which is 20K. Friend of mine earns ~ 75K a year and Revenue told him he can avail max amount by selecting only last 2 of 4 years. Hope this answers

Yes-the max you can get back is 20k. But its only the value of your mortgage (at least this is what I understand!). So, if youve a 200k mortgage, you are eligible for 5% of this (if paid in tax in last 4 years).

Been having a look at p60s. Have defo paid over 20k in taxes. So please God am entitled to something.

Had a quick call with revenue on Friday, and was told that my application is sitting in someone's inbox/queue. So they should get to it this week.

Just to add, something funny that happened a few months ago...Ive been organising to build for nearly a year now. Reactions have been funny in general. If you are building, people think youve lots of money. If you are buying, doesnt seem to get same reaction. I rang an energy agency a few months ago, see if there were any grants I could avail of, and I was told "well, if you can afford to build a house, you dont need a grant". Think the attitude is weird/funny. Why is it perceived people building have pockets of money?

Aaron15

dellas1979 wrote: »

Yes-the max you can get back is 20k. But its only the value of your mortgage (at least this is what I understand!). So, if youve a 200k mortgage, you are eligible for 5% of this (if paid in tax in last 4 years).

Been having a look at p60s. Have defo paid over 20k in taxes. So please God am entitled to something.

Had a quick call with revenue on Friday, and was told that my application is sitting in someone's inbox/queue. So they should get to it this week.

Just to add, something funny that happened a few months ago...Ive been organising to build for nearly a year now. Reactions have been funny in general. If you are building, people think youve lots of money. If you are buying, doesnt seem to get same reaction. I rang an energy agency a few months ago, see if there were any grants I could avail of, and I was told "well, if you can afford to build a house, you dont need a grant". Think the attitude is weird/funny. Why is it perceived people building have pockets of money?

it’s not 5% of the mortgage, it’s 5% of the value of the house, sorry, just had to swoop in and correct that😊

awec

autumnbelle wrote: »

I applied about a week ago I rang them and they said delay is cos our status changed as we got married so she doesn't know how long that will delay application

Was the same for us last year. I think it took a few weeks.

cfitz86

Can anyone tell me exactly what paperwork that I will need to submit when claiming for HTB scheme for self build? is it just a matter of filling out the p21 form or do I need to go through solicitor to sort?

dellas1979

cfitz86 wrote: »

Can anyone tell me exactly what paperwork that I will need to submit when claiming for HTB scheme for self build? is it just a matter of filling out the p21 form or do I need to go through solicitor to sort?

After 3 weeks and 1 very angry phone call to Revenue today, finally got approved for 20K (which is max amount I believe).

There is an application stage and a claim stage (I know, its not clear at all).

You need to have P21 statements done for the years that you are claiming for (you can claim for 4 years).

So, go to revenue.ie, click on HTB, and start the application there.

Once they approve, then you can go ahead an submit documents etc.

Am at this stage myself, so if I know anymore, I will offer advice.

izzyflusky

dellas1979 wrote: »

After 3 weeks and 1 very angry phone call to Revenue today, finally got approved for 20K (which is max amount I believe).

There is an application stage and a claim stage (I know, its not clear at all).

You need to have P21 statements done for the years that you are claiming for (you can claim for 4 years).

So, go to revenue.ie, click on HTB, and start the application there.

Once they approve, then you can go ahead an submit documents etc.

Am at this stage myself, so if I know anymore, I will offer advice.

Was it the angry phonecall that did the trick?lol. I've been on the phone to them recently, and understand that there might be a backlog now from he storm but getting impatient!

JDD

This has probably been asked multiple times but it's such a long thread...apologies in advance.

I'm a second time buyer. My husband is a first time buyer. If my husband wanted to buy something in his sole name, would he be prevented from accessing the help to buy scheme because of the sole fact that he is married to a second time buyer? My name would not be on the deeds of the property. We are assessed singly for tax purposes.

dellas1979

izzyflusky wrote: »

Was it the angry phonecall that did the trick?lol. I've been on the phone to them recently, and understand that there might be a backlog now from he storm but getting impatient!

oh it was.

Id rang about 4 times (taking time out of work and making phonecalls).

They tried to fob me off again, and I just said "no want to speak with a supervisor, this is stressing me out now"

I was waiting 3 weeks for someone just to press a button to say am eligible (all tax years balanced correctly). I said I have to make decisions on how much Ive to build for, and I cant until yer one somewhere checks the application and presses a button. Within 10 minutes it was approved. Took 10 mins to check the application.

masha26

Just got approval for help to buy. Max they can give us is 9800 as a group, was hoping for more than that. We are only on our first stage of the application they don't have the details regarding purchase price of house yet, will this number change or this is it?

izzyflusky

dellas1979 wrote: »

oh it was.

Id rang about 4 times (taking time out of work and making phonecalls).

They tried to fob me off again, and I just said "no want to speak with a supervisor, this is stressing me out now"

I was waiting 3 weeks for someone just to press a button to say am eligible (all tax years balanced correctly). I said I have to make decisions on how much Ive to build for, and I cant until yer one somewhere checks the application and presses a button. Within 10 minutes it was approved. Took 10 mins to check the application.

I'll give them a ring again tomorrow. I need the codes asap, EA and broker are waiting on them!

allym

JDD wrote: »

This has probably been asked multiple times but it's such a long thread...apologies in advance.

I'm a second time buyer. My husband is a first time buyer. If my husband wanted to buy something in his sole name, would he be prevented from accessing the help to buy scheme because of the sole fact that he is married to a second time buyer? My name would not be on the deeds of the property. We are assessed singly for tax purposes.

As far as I know if you’re married you cannot apply for a mortgage as an individual. Someone more in the know can correct that but that would be my understanding

Crunchymomma

masha26 wrote: »

Just got approval for help to buy. Max they can give us is 9800 as a group, was hoping for more than that. We are only on our first stage of the application they don't have the details regarding purchase price of house yet, will this number change or this is it?

Most it can be is 5% of house price up to (your) max of 9800

awec

masha26 wrote: »

Just got approval for help to buy. Max they can give us is 9800 as a group, was hoping for more than that. We are only on our first stage of the application they don't have the details regarding purchase price of house yet, will this number change or this is it?

It might go down depending on the house you pick.

It won't go up.

Michael D Not Higgins

masha26 wrote: »

Just got approval for help to buy. Max they can give us is 9800 as a group, was hoping for more than that. We are only on our first stage of the application they don't have the details regarding purchase price of house yet, will this number change or this is it?

The help to buy is linked to the income tax you've paid in the last 4 years, which you say you've been granted 9800. That means one of three situations happened:

1. You've only paid that much tax over 4 years due to your income. For a married couple that would be about 45k combined, which would only qualify for a mortgage of 157.5k anyway so you'd be hard pressed to buy a new build on that budget.

2. You've been unemployed or returned to Ireland after working abroad. You therefore haven't paid much tax in the last 4 years and won't qualify for more of a refund.

3. It's a mistake. Double check all the information submitted and income tax paid over the period.

missmatty

My heart is broken with Revenue over the last three weeks as well, no-one on the ground level there seems to know what they are at. We also need our HTB codes asap as house contracts are issuing soon. I have an issue with an inherited property blocking the application and have been shuttled over and back between LPT office and Revenue multiple times, although the LPT people are very competent. Someone at head office is now trying to sort something out for me.

dellas1979

Another hoop jumped through today.

I uploaded the signed mortgage contract and let solicitor know.

For self-builders whove done this already, do you only get the refund once the first stage is drawn down?

Thanks

izzyflusky

Following another user's advice, I rang yesterday but it didnt solve the problem, rang again and after much hassle was directed to the person dealing with my applocation. Apparently she had missed something that was extremely simple and thought it was sorted when it wasn't. Good thing that I kept pestering them, otherwise nothing would have happened. Still took her a few hours to get back to it but it's solved now and I finally have my code.