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

PedroDublin

Hello everyone, what do you think the purchase date mean on the new help to buy scheme? Contracts signed by buyers, contracts received, mortgage withdrawal, closing date..... I have seen different things on different news

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Iris2016

Hi just want to ask question re form12 do we have to complete all the 16 pages of it and upload all under my enquiries? TIA need help pls

Blingy

Cracker86 wrote: »

Hi

Has anyone had any issues with the grant because the developer was in NAMA.

The developer is listed with the revenue website as approved but the solicitor on their side has advised there maybe an issue as the developer is in NAMA.

Just looking for any feedback.

Thanks

Should be no problem. Just apply as normal. Nama can't discriminate against people that use the htb scheme

Cracker86

Blingy wrote: »

Should be no problem. Just apply as normal. Nama can't discriminate against people that use the htb scheme

Okay thanks. I figured that as I imagine alot of developers would be in the same situation. Thats why I was surprised when it was mentioned that it could be an issue

Confused ftb

Iris2016 wrote: »

Hi just want to ask question re form12 do we have to complete all the 16 pages of it and upload all under my enquiries? TIA need help pls

You can do that but u can also do it online through my account, much easier, most of the information is already there, you just have to sign off on it.

awec

I'm trying to make the application, I've submitted a form 12 for 2013 -> 2016, now it is saying form 12 not submitted for 2016 (definitely is, I just did it) and p21 not requested for 2013 and 2016 (no idea what this is or why I need to request it).

Anyone seen this and know what I need to do to proceed? Do I just need to wait a few days?

RootX

Hi awec,

can't help with the 2016 issue but it takes a couple of days for the P21s to be generated once form 12 has been submitted.

theresa78

Has anyone successfully received money back under this scheme? I purchased a house as a first time buyer last year signed the contract on 26th July. I was told i was eligible so I made a claim. A lady from the revenue rang me up last week telling me that because I had paid down a deposit before the 19th July I was now ineligible. It seemed to me like they are trying to eliminate as many people as possible. I have argued my case that a booking deposit is not a contract but i'm getting no joy. Anyone any similar experiences?

johnny66179

There is a big thread about the HTB scheme
https://www.boards.ie/b/thread/2057658025/85#103476234
Your eligibility depends on when you signed the contract with the developer as opposed to when you paid the initial booking fee or when you actually draw down the mortgage. For us, we paid the initial booking fee in Sept and contracts with the developer in Dec. We applied as a retrospective buyer in Mar and were paid in April. We are due to move into the house in the next few weeks so are only drawing down the mortgage now.

Aph2016

Can someone clear this up for me.

Solicitor said we have to pay the full 10% deposit in cash and that the builder will take the HTB off the remaining balance of the house.

Surely this can't be correct?

Blingy

Aph2016 wrote: »

Can someone clear this up for me.

Solicitor said we have to pay the full 10% deposit in cash and that the builder will take the HTB off the remaining balance of the house.

Surely this can't be correct?

Nope. While idea is that you can use the htb scheme to help pay the full deposit. We paid half he deposit and the htb scheme will make up the difference.

Aph2016

Blingy wrote: »

Nope. While idea is that you can use the htb scheme to help pay the full deposit. We paid half he deposit and the htb scheme will make up the difference.

My thoughts exactly, makes no sense as we'd be down a lot of cash that would be used to furnish the house.

REFLINE1

Aph2016 wrote: »

Can someone clear this up for me.

Solicitor said we have to pay the full 10% deposit in cash and that the builder will take the HTB off the remaining balance of the house.

Surely this can't be correct?

Lots of builders trying to pull this stunt as it helps with their cashflow. i dug in my heels via our solicitor and they relented but i know others who bought at same time had to pay the 10%.

Aph2016

REFLINE1 wrote: »

Lots of builders trying to pull this stunt as it helps with their cashflow. i dug in my heels via our solicitor and they relented but i know others who bought at same time had to pay the 10%.

Thanks for replying. I guess our Solicitor will have to go back argue the case.

Arse Biscuits

When uploading contracts do you just set up a new enquiry under 'My Emquiries'?

Cracker86

Aph2016 wrote: »

Thanks for replying. I guess our Solicitor will have to go back argue the case.

Our builder tried to pull this aswell, We advised them through our solicitor that the principal aim of the grant is to aid buyers the deposit as opposed to allowing people to take a smaller mortgage and that the grant is to assist with the buyers cash flow not the builders. Just waiting to hear back now so hopefully we can proceed

Aph2016

Cracker86 wrote: »

Our builder tried to pull this aswell, We advised them through our solicitor that the principal aim of the grant is to aid buyers the deposit as opposed to allowing people to take a smaller mortgage and that the grant is to assist with the buyers cash flow not the builders. Just waiting to hear back now so hopefully we can proceed

Shocking stuff. I guess you can't blame them for trying <snip>

Tuhula

Aph2016 wrote: »

Thanks for replying. I guess our Solicitor will have to go back argue the case.

Yep same with us, in the process at the moment. Had to pay the full 10% and uploaded the contracts then last week, got approved this week from Revenue and the 5% should be with the developers in the coming days.

Cracker86

Tuhula wrote: »

Yep same with us, in the process at the moment. Had to pay the full 10% and uploaded the contracts then last week, got approved this week from Revenue and the 5% should be with the developers in the coming days.

Did you challenge the developer on it or was it just as convinent to pay the 10%. I ain't in a position to pay the 10% so really need the delevoper to stop digging their heels.

Tuhula

Cracker86 wrote: »

Did you challenge the developer on it or was it just as convinent to pay the 10%. I ain't in a position to pay the 10% so really need the delevoper to stop digging their heels.

We actually didnt challenge as we are putting the 5% from the Revenue towards the funding, so technically funding 15% in cash (our 10% and Revenue 5%) and rest from mortgage...however before we put down the booking deposit we were told we would have to put down the full 10% and claim back the 5% after contracts signed... i believe everyone in the development were told the same thing .. without the 5% from Revenue, we wouldnt have been able to get the house, so to us, it worked out well.

Aph2016

Tuhula wrote: »

We actually didnt challenge as we are putting the 5% from the Revenue towards the funding, so technically funding 15% in cash (our 10% and Revenue 5%) and rest from mortgage...however before we put down the booking deposit we were told we would have to put down the full 10% and claim back the 5% after contracts signed... i believe everyone in the development were told the same thing .. without the 5% from Revenue, we wouldnt have been able to get the house, so to us, it worked out well.

Can't believe they are getting away with this.

Tuhula

Aph2016 wrote: »

Can't believe they are getting away with this.

It goes against the whole idea of the scheme. Not sure if people challenged it and the developer backed down.

mjp

Any fear of this scheme being withdrawn following on from effect its having on increase in house prices. Hearing lot of negative vibes about it in media and saying its just driving up prices of houses with no increase in supply.

Leo varadkar might want to make his mark if he gets taoiseach job and afraid this scheme could get the chop. Lots of groups saying need to cut cost of building and calling for removal of vat on building products.

Cracker86

Tuhula wrote: »

It goes against the whole idea of the scheme. Not sure if people challenged it and the developer backed down.

We are in the course of challenging it, surely if they don't back down we could report them to revenue who really should remove them from their approved developer list, although I wouldn't hold my breath on that

Jellybaby17

Cracker86 wrote: »

We are in the course of challenging it, surely if they don't back down we could report them to revenue who really should remove them from their approved developer list, although I wouldn't hold my breath on that

We were in the same situation, we tried to fight against it but they wouldn't back down
We needed the other 5 % for something else but nearly lost the house so we paid in the end
Thankfully our revenue has come through and been paid to the developer so when we draw down our mortgage we will give them the rest we owe them minus the extra 5 % and get it back
It is a horrible situation and you are right they should not be allowed get away with it
If we couldn't come up with the five percent we would have actually lost the house even though from the start they said they accept help to buy
Horrendous

Cracker86

Jellybaby17 wrote: »

We were in the same situation, we tried to fight against it but they wouldn't back down
We needed the other 5 % for something else but nearly lost the house so we paid in the end
Thankfully our revenue has come through and been paid to the developer so when we draw down our mortgage we will give them the rest we owe them minus the extra 5 % and get it back
It is a horrible situation and you are right they should not be allowed get away with it
If we couldn't come up with the five percent we would have actually lost the house even though from the start they said they accept help to buy
Horrendous

God, glad you got sorted in the end but that is really scary to hear. Ultimately I know that if the developer plays hard ball I will be the one to lose out on the house but it would leave a bitterly sour taste in my mouth. It's just typical that a scheme like this launched to help people like ourselves and it exploited. It would honestly make you sick.

Aph2016

Jellybaby17 wrote: »

We were in the same situation, we tried to fight against it but they wouldn't back down
We needed the other 5 % for something else but nearly lost the house so we paid in the end
Thankfully our revenue has come through and been paid to the developer so when we draw down our mortgage we will give them the rest we owe them minus the extra 5 % and get it back
It is a horrible situation and you are right they should not be allowed get away with it
If we couldn't come up with the five percent we would have actually lost the house even though from the start they said they accept help to buy
Horrendous

I spoke to revenue and they told me I was 100% right but they won't be able to send a letter or email to confirm. They told me that all I can do is report them and if enough people do it then maybe something will happen. Leaves a bitter taste in my mouth.

If we simply didn't have the cash to cover the deposit then we simply lose the house. It's a joke. Most first time buyers that were expecting the htb to cover some of the deposit are going to be disappointed.

fitzparker

Hi guys. Quick question on this. We never looked into this as the house in question was built (shell) in 2008 but never finished by developer they have now been compete (2017) and put on market.

We have drawn down on house in question and our solicitor received the funds today, so closing in next few days. But we just got a text from estate agent to say the developer has just been registered on the help to buy scheme.

Is it too late to apply for this. Can we do it after sale goes through? We are just concerned it will delay process etc.

Does the money go into our account or that of the developer?

Dermotsull13

Hi everyone.
Quick question that somebody may be able to answer quickly.
We are approved for the scheme in the last couple of weeks but we are still waiting for the contractor to get onto the qualifying contractor list.
We are confident he will get onto it but in the meantime could we progress with signing the contracts for the house and once he is on the list of qualifying contractors for the scheme upload the signed contract and get the rebate? Are there any issues applying for the grant 2 / 3 months after the contracts have been signed?
Thanks

mjp

Looks like one of first thing Varadkar is planning on doing is getting rid of help to buy scheme. Will be carrying out a review first to see if scheme is having a negative impact on house prices but be pretty certain that that will be the case. Anyone looking to claim should do so in quick time because he doesn't mention that he has any other scheme to directly replace it.

theboringfox

mjp wrote: »

Looks like one of first thing Varadkar is planning on doing is getting rid of help to buy scheme. Will be carrying out a review first to see if scheme is having a negative impact on house prices but be pretty certain that that will be the case. Anyone looking to claim should do so in quick time because he doesn't mention that he has any other scheme to directly replace it.

ya it is going to go. getting bad press and any positive impact will take too long to measure. it is not fair to give one sub category of buyer a boost anyway. first time buyers of new houses is small % of electorate and it just really annoys a lot of people to see some tax payers get this payout. And theres the potential they are not even benefitting and it just gets added to the price (seller gains). I saw a friend caught in negstive equity with young family trying to move from apartment. For a new house costing 400k he needs 80k deposit and is competing with FTBs who need only 20k in effect!