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Help To Buy Process - Self Build

  • 15-01-2022 1:14pm
    #1
    Fawkon
    Registered Users, Registered Users 2 Posts: 164 ✭✭


    Hi there,

    I wanted to see if anyone had some insight with regards to claiming the Help To Buy for someone who is receiving a self build mortgage.

    Its hard to nail down exactly how this is done via Google searching.

    “If you self-build the property after 1 January 2017, the refund is paid to a bank account you hold with your loan provider”

    Does this imply that the HTB payment will go to a bank account which would need to be held with the same institution as the mortgage.

    We are with AIB and are currently in the process of applying with Haven mortgages who are a subsidiary of AIB I believe.

    Thank you for any insight!



Comments

  • #2
    cooper2707
    Registered Users, Registered Users 2 Posts: 2 ✭cooper2707


    Hi, sorry to hijack thread

    I want to apply for the HTB in 2023. I have a letter of offer from the bank and I have started our self build. I want to make our first drawdown in January as HTB require you to show evidence that your drawdown was in the same year as HTB you are claiming. The bank said that if I want to apply for the HTB 2023, I need to apply with revenue in January, send them the code and provide payslips, salary cert, etc again. This will take weeks and I can't wait that long. I am not using HTB as my deposit and it wasn't part of my current offer letter.

    My question is, can I draw down the first stage in January and claim the help to buy without informing the bank. I have read the revenue circular and it doesn't state anywhere that you need to make the bank aware that you are claiming HTB. Any one help me with this?



  • #3
    adriant900
    Registered Users, Registered Users 2 Posts: 53 ✭✭adriant900


    Another question:

    Revenue says:

    "

    If you self-build the property after 1 January 2017, the refund is paid to a bank account you hold with your loan provider.

    "

    Does it get paid into your current account or into the mortgage account?

    Am I right in saying that it will be paid after the first draw down of the self build mortgage?

    Just trying to understand my cash flows during the build.

    I understand you need to have not previously owned another house and need to live in the property in question for 5 years after. Is there any claw back if you end up owning another property within the 5 years e.g inheritance of a house



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