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

charlietheminxx

Aleera wrote: »

I started the HTB process on Monday. Rang revenue today and was told there’s approx a 4 week wait list before the application is even assigned to a case officer. Anyone else been told this?

I was onto them on Monday because our application was stuck on pending (even though everything had been submitted, it was a system error on their side) and I asked how long it usually takes to review the applications. I was told it's usually a couple of days if there are no complications but now I'm seriously worried Have you changed your marital status or anything that would require a more extensive review? It's 2 weeks since we first applied and the bank and estate agent are both looking for our HTB details so I hope what you were told is wrong!

swarmberg

charlietheminxx wrote: »

I was onto them on Monday because our application was stuck on pending (even though everything had been submitted, it was a system error on their side) and I asked how long it usually takes to review the applications. I was told it's usually a couple of days if there are no complications but now I'm seriously worried Have you changed your marital status or anything that would require a more extensive review? It's 2 weeks since we first applied and the bank and estate agent are both looking for our HTB details so I hope what you were told is wrong!

Mines took 3 weeks from submitting to getting the codes, got them last Friday. Took alot of ringing every two days to try and speed it up though. Id say its around a month wait due to the number of applications.

charlietheminxx

swarmberg wrote: »

Mines took 3 weeks from submitting to getting the codes, got them last Friday. Took alot of ringing every two days to try and speed it up though. Id say its around a month wait due to the number of applications.

What a pain! I’ll ring them tomorrow to see if I can get a push on it. The estate agents can’t draw up the contracts without Revenue confirming our refund sum. Probably a lot of people in the same boat at the moment.

Phileas Frog

Are ye talking about the initial application, where it tells you the max you can claim and gives you 2 codes so solicitor & estate agent can verify?

charlietheminxx

That's what I'm talking about anyway! I thought it would be automated and fairly quick but it seems not...

Daeltaja

Is there a way to cancel or amend a pending application? I want to change the relief years I selected. There doesn't seem to be an option on MyAccount

Odette22Odile

Hopefully this isn’t too daft a question, but if there is a delay with the application being processed, but you are eligible, can you go ahead and pay the deposit yourself and then use the rebate at a later stage?

GingerLily

Odette22Odile wrote: »

Hopefully this isn’t too daft a question, but if there is a delay with the application being processed, but you are eligible, can you go ahead and pay the deposit yourself and then use the rebate at a later stage?

Are you self building?

Odette22Odile

GingerLily wrote: »

Are you self building?

Nope, buying a new build.

GingerLily

Odette22Odile wrote: »

GingerLily wrote: »

Are you self building?

Nope, buying a new build.

Revenue will pay the developer directly then

Odette22Odile

GingerLily wrote: »

Revenue will pay the developer directly then

I’m sorry if this sounds like I am being incredibly dense, but does this mean that it can only be paid with the deposit? Any later and it would impact the amount of the mortgage, I imagine?

charlietheminxx

Odette22Odile wrote: »

I’m sorry if this sounds like I am being incredibly dense, but does this mean that it can only be paid with the deposit? Any later and it would impact the amount of the mortgage, I imagine?

No, it can be paid a bit later. That's the way mine is set up anyway - we paid a holding deposit of €7k, the next payment due on signing contracts is €10k and then the rest is due at closing - our HTB will be claimed then.

In other news - my application was approved today! WOOHOO! Can move on with the contracts now.

GingerLily

Odette22Odile wrote: »

GingerLily wrote: »

Revenue will pay the developer directly then

I’m sorry if this sounds like I am being incredibly dense, but does this mean that it can only be paid with the deposit? Any later and it would impact the amount of the mortgage, I imagine?

Our developer claimed at drawdown, which means it reduced the amount of our mortgage.

Do you want to drawdown the same mortgage amount as you would without HTB and keep the difference? I'd check first with your solicitor if that's what your thinking

Odette22Odile

GingerLily wrote: »

Our developer claimed at drawdown, which means it reduced the amount of our mortgage.

Do you want to drawdown the same mortgage amount as you would without HTB and keep the difference? I'd check first with your solicitor if that's what your thinking

We were hoping to reduce the mortgage and have the developer claim at the drawdown stage. So, that seems to be possible, which is great. We just thought it could be really messy trying to pay a deposit, whilst needing the contracts for the HTB, if that makes sense!

smurfette2212

Hopefully this hasn't been asked here before, so please accept my apologies if so.

My partner and I applied as a group for HTB. In each of our Revenue accounts, in the notification from them, the 'Maximum Relief Available to You' is a different figure. These figures both also differ from the 'Maximum Relief Available to Group' figure. Is this normal? If so, which number should we be going by?

Thanks!

GingerLily

Odette22Odile wrote: »

We were hoping to reduce the mortgage and have the developer claim at the drawdown stage. So, that seems to be possible, which is great. We just thought it could be really messy trying to pay a deposit, whilst needing the contracts for the HTB, if that makes sense!

We did that too, we found it easier to claim later then at contracts signing, no issues at all, the bank will need the developer to confirm they've claimed the funds before you drawdown, but the process works pretty well from my experience

Odette22Odile

GingerLily wrote: »

We did that too, we found it easier to claim later then at contracts signing, no issues at all, the bank will need the developer to confirm they've claimed the funds before you drawdown, but the process works pretty well from my experience

That sounds a lot more straightforward. Thanks!

charlietheminxx

smurfette2212 wrote: »

Hopefully this hasn't been asked here before, so please accept my apologies if so.

My partner and I applied as a group for HTB. In each of our Revenue accounts, in the notification from them, the 'Maximum Relief Available to You' is a different figure. These figures both also differ from the 'Maximum Relief Available to Group' figure. Is this normal? If so, which number should we be going by?

Thanks!

The Group Figure.

eg. mine might say Max Relief to Charlietheminxx - €13,000
Max Relief to Group - €20,000

My partners might say Max Relief to MrCharlietheminxx - €12,000
Max relief to Group - €20,000

It just shows you the maximum you are each eligible to claim, but the group figure should be the same on each and that's the one that counts

smurfette2212

charlietheminxx wrote: »

The Group Figure.

eg. mine might say Max Relief to Charlietheminxx - €13,000
Max Relief to Group - €20,000

My partners might say Max Relief to MrCharlietheminxx - €12,000
Max relief to Group - €20,000

It just shows you the maximum you are each eligible to claim, but the group figure should be the same on each and that's the one that counts

Yes, that figure is the same. And it’s the lesser of that amount or 5% of purchase price that you can claim?

niamhzie

Does anyone know, are claims processed centrally or by your home Revenue district? Myself and himself are registered with two different ones.

I see previous posters saying there's a massive backlog, trying to figure out if it's worth following up on Monday, or waiting a bit longer.

charlietheminxx

smurfette2212 wrote: »

Yes, that figure is the same. And it’s the lesser of that amount or 5% of purchase price that you can claim?

Yes, exactly.

charlietheminxx

niamhzie wrote: »

Does anyone know, are claims processed centrally or by your home Revenue district? Myself and himself are registered with two different ones.

I see previous posters saying there's a massive backlog, trying to figure out if it's worth following up on Monday, or waiting a bit longer.

It’s worth chasing. We just phoned the PAYE number when we were following up on our application. I think it’s processed centrally as they said they would pass on a note for us when we chased it a second time and we got confirmation later that same day.

smurfette2212

charlietheminxx wrote: »

Yes, exactly.

Thank you. One possibly last silly question, but once you have that figure from Revenue, is there any reason you wouldn’t then get it? I’m just thinking of being able to go to the bank and tell them, but just amn’t sure if that figure is guaranteed...

TedsRevengeP

We've put a deposit on a new build, costing 330k and have gotten initial approval on HTB up to 20k.

We've been asked by the agent what the equity amount is - as in how much we're going to access on HTB? For us we want basically as much as we can get which I guess is 5%?

Thanks

Creamy Goodness

yes 5% of 330k (16.5k) provided you have paid that much in tax in the 4 years (which I'm guessing you have).

TedsRevengeP

Creamy Goodness wrote: »

yes 5% of 330k (16.5k) provided you have paid that much in tax in the 4 years (which I'm guessing you have).

Yep. The group approval thing we got said 'Application max relief available - 20k' and 'Your max relief available - 20k' - so I'm guessing that's us assessed and approved up to 20k?

Creamy Goodness

TedsRevengeP wrote: »

Yep. The group approval thing we got said 'Application max relief available - 20k' and 'Your max relief available - 20k' - so I'm guessing that's us assessed and approved up to 20k?

yes, the first approval has no way to know if you're going for a 200k house vs a 400k house etc. It's only on the second phase (when you have the contracts) that they know the exact house price.

TedsRevengeP

Creamy Goodness wrote: »

yes, the first approval has no way to know if you're going for a 200k house vs a 400k house etc. It's only on the second phase (when you have the contracts) that they know the exact house price.

Cool - so with 16.5k we're well under.

Thanks

andydurnin

Hi. Want to find out how the help to buy scheme work as we got an email for the builders solicitor say We have received the refund from revenue but you do not get it back. It is taken off the price of your house. Is this correct? Is this how it works?

Creamy Goodness

It goes towards your deposit. It doesn’t reduce the house price. If your builder’s solicitor has it you don’t need to do anymore.