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

eoghan15

awec wrote: »

You need to put both names on it as they need to ensure your wife is also a FTB.

But do I need to use any of her years if we don't wish to? Basically her tax is a little messed up so to use HTB we need to clear that deficit for the years we are looking to claim HTB. But can I add her and not use any of her tax years?

Rock77

eoghan15 wrote: »

But do I need to use any of her years if we don't wish to? Basically her tax is a little messed up so to use HTB we need to clear that deficit for the years we are looking to claim HTB. But can I add her and not use any of her tax years?

The way mine worked was they showed how much I could claim 12,000

How much my wife could claim 13,000

But the max we could claim was 20,000.

We needed 16,000 and I was told we could claim the 16,000 any way we wanted.

Eg. Half each or 12,000 from me and 4,000 from her

eoghan15

Rock77 wrote: »

The way mine worked was they showed how much I could claim 12,000

How much my wife could claim 13,000

But the max we could claim was 20,000.

We needed 16,000 and I was told we could claim the 16,000 any way we wanted.

Eg. Half each or 12,000 from me and 4,000 from her

Ah that sounds grand so then, that's perfect, thank you for your help!

Dylan94

Does anyone know when they (the developer) claim the Help to Buy?

If we put our deposit down now and get the house until Feb will they draw down or in Feb?

If they were to draw down now we would only get €17,000 where as if they done it in the new year it would be €20,000

NeitherJohn

It's usually done between drawdown and closing.

coff66

Hopefully this has not been asked before.

Does anybody know what happens if you have signed contracts and letter of offer for a new build and submitted these for the HTB but then the letter of offer expires before mortgage draw down and needs to be renewed?

Further to this what would happen if the builder had already drawn down the HTB and upon looking for renewal the bank refused the mortgage!?

Second part is purely hypothetical, but first part is possibly a position we may find ourselves in.

awec

coff66 wrote: »

Hopefully this has not been asked before.

Does anybody know what happens if you have signed contracts and letter of offer for a new build and submitted these for the HTB but then the letter of offer expires before mortgage draw down and needs to be renewed?

Further to this what would happen if the builder had already drawn down the HTB and upon looking for renewal the bank refused the mortgage!?

Second part is purely hypothetical, but first part is possibly a position we may find ourselves in.

First part is very common, you just get a renewed offer from the bank.

coff66

awec wrote: »

First part is very common, you just get a renewed offer from the bank.

Does anything need to be changed on the HTB at that point in that the letter of offer that had been submitted would no longer be the current letter of offer?

We had gotten our letter of offer just at the time of lockdown starting and everything was obviously delayed in relation to the building of the house and progressing with contracts etc. So in the past few weeks things have started moving again and hopefully will be signing contract and letter of offer in the coming weeks and submitting for the HTB.

But obviously the current letter of offer expires in September and drawdown might not happen until November now and our broker is saying we will need to submit a new HTB application with our letter or offer renewal application which has just confused me, as either we will have submitted letter of offer and contract to get the deposit sorted upon signing contracts and if not the HTB approval should be valid until 31/12 if we do not submit paperwork to claim?

un5byh7sqpd2x0

The Help to Buy scheme has been increased in the July Stimulus to 10% / €30,000 (from 5% / €20,000) for the rest of 2020.

Rock77

Itzel Important Shock wrote: »

The Help to Buy scheme has been increased in the July Stimulus to 10% / €30,000 (from 5% / €20,000) for the rest of 2020.

Really? Where did you see this?

un5byh7sqpd2x0

Rock77 wrote: »

Really? Where did you see this?

15:37
https://www.independent.ie/irish-news/july-stimulus-package-live-updates-new-scheme-to-see-the-state-pay-companies-for-hiring-apprentices-39392230.html

Also:
https://twitter.com/gavreilly/status/1286307924063727616?s=20

Rock77

Itzel Important Shock wrote: »

15:37
https://www.independent.ie/irish-news/july-stimulus-package-live-updates-new-scheme-to-see-the-state-pay-companies-for-hiring-apprentices-39392230.html

Also:
https://twitter.com/gavreilly/status/1286307924063727616?s=20

Thanks, I see on the Indo article it just says it’s increasing to 30k... if it’s also increasing to 10% then that’s massive.. your full deposit is covered!

I’ve already been approved for 5% but it said on my application I could get a lot more, problem was it was more than 5%

I’ll have to re apply!

Conrad83

Rock77 wrote: »

Thanks, I see on the Indo article it just says it’s increasing to 30k... if it’s also increasing to 10% then that’s massive.. your full deposit is covered!

I’ve already been approved for 5% but it said on my application I could get a lot more, problem was it was more than 5%

I’ll have to re apply!

We are the same. We were approved for 5% but would have qualified for more.

We are literally about to sign contracts on a new build. Does this mean we have to reapply through revenue to get the extra does anyone know?

Tipsy McSwagger

I claimed 5% last year and got half my deposit of 20k. Does this new news mean my full deposit would now be covered.

Rock77

Conrad83 wrote: »

We are the same. We were approved for 5% but would have qualified for more.

We are literally about to sign contracts on a new build. Does this mean we have to reapply through revenue to get the extra does anyone know?

I’ve sent an enquiry to revenue...

Contract is due to our solicitor next week, I presume we would have to re apply because we qualified for more than 24k but it says on the application- max available 20k...

Rock77

Tipsy McSwagger wrote: »

I claimed 5% last year and got half my deposit of 20k. Does this new news mean my full deposit would now be covered.

Yes, however I would think if you have already received the HTB money that you are too late to avail of this new rule.

I could be wrong...

Conrad83

Rock77 wrote: »

I’ve sent an enquiry to revenue...

Contract is due to our solicitor next week, I presume we would have to re apply because we qualified for more than 24k but it says on the application- max available 20k...

Exact same position here! Contracts in hand ready to be posted tomorrow to our solicitor and back to builder. Also sent an enquiry to revenue. Assume it is a new application. We would qualify for €29k and got €19k. Dont think any problem signing contracts and forwarding new HTB info once approved (hopefully).

Rock77

Conrad83 wrote: »

Exact same position here! Contracts in hand ready to be posted tomorrow to our solicitor and back to builder. Also sent an enquiry to revenue. Assume it is a new application. We would qualify for €29k and got €19k. Dont think any problem signing contracts and forwarding new HTB info once approved (hopefully).

Yeah should be grand... hope it works out for you. Great news for a lot of us!!

2up2down

hello everyone this looks like great news for the first time buyers . We are in the very early stages of saving for a deposit .
How long does it take from applying for HTB to receiving a code ?
I am a FTB paying tax since I was a teen does this mean I will qualify for the full rate ?
If deposit is covered with HTB what's the next step , do you still have to have savings to show the bank or what are the requirements ?
we were waiting to save our deposit before contacting a broker , should we be getting onto brokers now seems the deposit will be covered by HTB ? thanks for any answers .

Luluk

I claimed HTB in March 2020 and got 5%, amounting to 17000. My house will be complete in October 2020. I'm wondering if I might be entitled to more now, and if so, how to claim it given I've already paid my deposit.

Paremon

We're FTBs who used the HTB scheme (20k) & are about to draw down mortgage in the next 24 to 48hrs but may hold off if there's a chance we can avail of this amendment. Does anyone know when this amendment to the HTB scheme is effective from & if it could/would apply to us? I believe our developer's solicitors have already received the 20k HTB payment, will confirm with solicitors.

Rock77

I’m waiting to hear from revenue about it and will update as soon as I hear.

I’m totally guessing but I would think that if you have already received the money for HTB then you may have just missed out on this.....

laurajaney83

This is really frustrating for people who have just claimed HTB. I'm doing a self build and applied when COVID kicked off because I was worried it would be scrapped altogether in the new gov.

I have just emailed revenue for confirmation if I can now get the extra %. Will follow here to see if anyone can shed anymore light on this situation for recent applicants.

Dylan94

laurajaney83 wrote: »

This is really frustrating for people who have just claimed HTB. I'm doing a self build and applied when COVID kicked off because I was worried it would be scrapped altogether in the new gov.

I have just emailed revenue for confirmation if I can now get the extra %. Will follow here to see if anyone can shed anymore light on this situation for recent applicants.

It is highly unlikely that you or anyone else that has already claimed the HTB will get anything extra. Its there as a stimulus to help attract new buyers and get people to buy now.

You were already buying/building so there is no benefit.

un5byh7sqpd2x0

If the builder has already claimed it, there’s a 0% chance of getting it topped up.

laurajaney83

Dylan94 wrote: »

It is highly unlikely that you or anyone else that has already claimed the HTB will get anything extra. Its there as a stimulus to help attract new buyers and get people to buy now.

You were already buying/building so there is no benefit.

I am currently building.

I just received my HTB couple of weeks ago, and to know I could have gotten an additional 15k to pay for all the things I need to buy is frustrating and I felt I needed to vent.

Dylan94

8-10 wrote: »

I have shared the HTB codes with solicitor 2 days ago but signed contract hasn't been sent off (was going to issue instruction to do so tomorrow) so Builder won't have claimed yet.

Nick of time I think for me, fingers crossed, hopefully can cancel the existing HTB claim pretty quickly and re-claim under the updated scheme

If I were you I'd go online and cancel the claim now before they have the chance to do anything with it.

brisan

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cache from google
https://drive.google.com/file/d/1X1V...ew?usp=sharing

new price
https://drive.google.com/file/d/1r35...ew?usp=sharing

was wondering why the new price but I guess the extra 10k would explain that..

Jasna1982

Can I apply for the HTB scheme before I have anything in mind?
I’d like to see how much I could get approved for. But do I need to have a house in mind already?

8-10

Jasna1982 wrote: »

Can I apply for the HTB scheme before I have anything in mind?
I’d like to see how much I could get approved for. But do I need to have a house in mind already?

No you can apply without anything in mind