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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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68 lost souls

Finally got our approval this week. Happy out now and a load off my mind

happycoolrains

How long does it takes to get the approval for H-B-T.
I just requested my form 12 today.

Thanks,

68 lost souls wrote: »

Finally got our approval this week. Happy out now and a load off my mind

ec18

happycoolrains wrote: »

How long does it takes to get the approval for H-B-T.
I just requested my form 12 today.

Thanks,

Once everything is uploaded and in order a day or two to approval, then after contracts are uploaded 3-4 days for funds to be issued (depending on how efficient the developer is)

happycoolrains

Thank You, and how long does form 12 takes . I have got my P21 today.

Do I need to wait for form 12?

However when I try to apply for the scheme it gives me error as :

We cannot complete your request because our records show that your personal details need to be updated. Please telephone your local Revenue office or contact us through myEnquires. Please quote Rule 1
I contacted revenue and they do not know the answer yet. They said they will call me back not sure if they really will.

Thanks,

ec18 wrote: »

Once everything is uploaded and in order a day or two to approval, then after contracts are uploaded 3-4 days for funds to be issued (depending on how efficient the developer is)

ec18

happycoolrains wrote: »

Thank You, and how long does form 12 takes . I have got my P21 today.

Do I need to wait for form 12?

However when I try to apply for the scheme it gives me error as :

We cannot complete your request because our records show that your personal details need to be updated. Please telephone your local Revenue office or contact us through myEnquires. Please quote Rule 1
I contacted revenue and they do not know the answer yet. They said they will call me back not sure if they really will.

Thanks,

Form12s took a day or two if you can do them all online

happycoolrains

Thank You, yes I did them all online.

ec18 wrote: »

Form12s took a day or two if you can do them all online

happycoolrains

Hi,
Is there any document help for filling the help-to-buy form.

For eg: the first question
Have you already bought a home or drawn down the first tranche of a qualifying loan?

I have just paid the booking deposit of 5000, so the answer is yes or no?

thanks,

gerglack

hi...this scheme confuses me!!! I have been told our claim has been successful, and have access and claim codes...am i right in saying that i just need to give these to developer, they upload some info and the funds are directly transferred to them? I'm so afraid I've missed something along the way...

Helnalesca

Good afternoon,

I was wondering if anyone knows when we could expect the developers to receive the funds from the HTB scheme?
We received the confirmation this morning that the payment will be done in 5 working days. Do you know if by chance it can take less than that ?
thank you

sunrainmooncl

gerglack wrote: »

hi...this scheme confuses me!!! I have been told our claim has been successful, and have access and claim codes...am i right in saying that i just need to give these to developer, they upload some info and the funds are directly transferred to them? I'm so afraid I've missed something along the way...

Would like to know this too

AM258

Hi all, have been approved for HTB and will be submitting claim later this week, just pulled out our mortgage offer letter since I think we need to upload this, while it does state the property value and the mortgage amount, it doesn't explicitly state the LTV ratio (BOI mortgage). Just wondering if anyone else has had this and if it caused any issues with Revenue approving the claim?

Cheers

Klonker

AM258 wrote:

Hi all, have been approved for HTB and will be submitting claim later this week, just pulled out our mortgage offer letter since I think we need to upload this, while it does state the property value and the mortgage amount, it doesn't explicitly state the LTV ratio (BOI mortgage). Just wondering if anyone else has had this and if it caused any issues with Revenue approving the claim?

I think the Revenue might have a calculator.

BlackWizard

We have our two codes from Revenue but are a little clueless as to what is supposed to happen next.

Our solicitor sent the signed contracts with the two codes to the vendors solicitor but they've come back saying the codes are not right and they need a form. Our solicitor didn't mention what form but said she'd look into it.

When should we proceed to claim? Our solicitor originally said not until everyone signs contracts with a sale date.

I have a feeling that the vendors solicitor is expecting the money from revenue immediately but really I think it just forms part of our deposit as a future payment after contracts are signed?

Aph2016

It's a pretty simple process why does everyone complicate it.

-Sort out your tax compliance for the years you are claiming for by submitting the form 12.
-Apply to the scheme online either as an individual or as a joint application.
-Wait for confirmation from revenue on how much you can claim.
-Make sure your developer is on the approved list.
-Work with your Solicitor and sign the contracts from the developer.
-Ask your Solicitor to send you a pdf of the signed contracts.
-Log in to revenue and upload your contracts and fill out the information required.
-Wait for your claim to be approved and confirmation will be given after a day or two.
-Give your claim reference and access code to your Solicitor.
-Wait for confirmation from revenue that funds will be paid.
-It will be paid in 5 working days so don't expect it to be paid sooner.
-Confirm with your Solicitor / developer that funds were paid.
-Relax.

Daria321

Klonker wrote: »

I think the Revenue might have a calculator.

Get this from your bank in writing to be sure. If the property was valued to get the mortgage then this should be in the bank documents.

[Deleted User]

Hi there. Can anyone possibly recommend a broker in the south Dublin or city centre area? I'd like to cover all bases

Daria321

Aph2016 wrote: »

It's a pretty simple process why does everyone complicate it.

-Sort out your tax compliance for the years you are claiming for by submitting the form 12.
-Apply to the scheme online either as an individual or as a joint application.
-Wait for confirmation from revenue on how much you can claim.
-Make sure your developer is on the approved list.
-Work with your Solicitor and sign the contracts from the developer.
-Ask your Solicitor to send you a pdf of the signed contracts.
-Log in to revenue and upload your contracts and fill out the information required.
-Wait for your claim to be approved and confirmation will be given after a day or two.
-Give your claim reference and access code to your Solicitor.
-Wait for confirmation from revenue that funds will be paid.
-It will be paid in 5 working days so don't expect it to be paid sooner.
-Confirm with your Solicitor / developer that funds were paid.
-Relax.

Also complete an assessable spouse election form first and send in to revenue if your civil status has changed since 2013 and await confirmation your record is updated before completing the e form or paper form 12s as a married couple. This cases delays if not done correctly.

Form can be downloaded from website.

The FAQs on the website answer most queries and there are separate ones for applicants contractors and solicitors.

BlackWizard

Aph2016 wrote: »

It's a pretty simple process why does everyone complicate it.

-Sort out your tax compliance for the years you are claiming for by submitting the form 12.
-Apply to the scheme online either as an individual or as a joint application.
-Wait for confirmation from revenue on how much you can claim.
-Make sure your developer is on the approved list.
-Work with your Solicitor and sign the contracts from the developer.
-Ask your Solicitor to send you a pdf of the signed contracts.
-Log in to revenue and upload your contracts and fill out the information required.
-Wait for your claim to be approved and confirmation will be given after a day or two.
-Give your claim reference and access code to your Solicitor.
-Wait for confirmation from revenue that funds will be paid.
-It will be paid in 5 working days so don't expect it to be paid sooner.
-Confirm with your Solicitor / developer that funds were paid.
-Relax.

I marked in bold the issue I'm having. The HTB is part of our deposit. The developer wont sign contracts without getting what I think is money from the HTB.

Aph2016

BlackWizard wrote: »

I marked in bold the issue I'm having. The HTB is part of our deposit. The developer wont sign contracts without getting what I think is money from the HTB.

Sorry but I think you might have to accept that the htb will not be accepted as part of your deposit. My advice is to find that money from somewhere else.

morrga

Aph2016 wrote: »

Sorry but I think you might have to accept that the htb will not be accepted as part of your deposit. My advice is to find that money from somewhere else.

We used a gift letter from our parents in lieu of the htb grant and it worked just fine from the banks perspective.

BlackWizard

Aph2016 wrote: »

Sorry but I think you might have to accept that the htb will not be accepted as part of your deposit. My advice is to find that money from somewhere else.

But the odd part is that the builder said they would accept it. I think they misunderstood what they agreed to. I appreciate the post and help. It has at least confirmed my own understanding of it.

AM258

Just uploaded contracts and submitted claim today. Wondering what happens next - do revenue need to approve this before the developer confirms the details or do we just provide the the Claim Ref No and the Access Code to the developer and they confirm? i.e. do Revenue need to do anything at this point or is it just the developer?

Cheers

morrga

AM258 wrote: »

Just uploaded contracts and submitted claim today. Wondering what happens next - do revenue need to approve this before the developer confirms the details or do we just provide the the Claim Ref No and the Access Code to the developer and they confirm? i.e. do Revenue need to do anything at this point or is it just the developer?

Cheers

It's now with the developer to verify your claim. Once that happens Revenue will be quick to progress it onwards.

Larsso30

BlackWizard wrote: »

I marked in bold the issue I'm having. The HTB is part of our deposit. The developer wont sign contracts without getting what I think is money from the HTB.

had same issue, but we submitted our contract that WE signed, which my solicitor and builders solicitior feel is enough

JaMarcusHustle

Does anyone know how long approval lasts? We have got approval but aren't in the process of buying a particular house at the moment. Will that approval expire?

traveller0101

JaMarcusHustle wrote: »

Does anyone know how long approval lasts? We have got approval but aren't in the process of buying a particular house at the moment. Will that approval expire?

Yeah it expires. If you log in to revenue you should see an expiry date.

szczena

hi

Is it a big deal to add my wife to a signed contract?
I got a mortgage on my own and signed mortgage on my own (house will be ready in December). After that we got a mortgage with joint names and we want to buy this house together. I canceled my HTB and applied as a group with my wife. Its approved. I uploaded the contract to revenue HTB this week but the contract has only my name. I wonder if that will be approved and vendor can claim the money or I have to change the contract now?? If that is possible?? or just add the name somehow to the signed contract?
Solicitor advised to not change the contract but transfer the deeds on the day of purchase to both names.

Thanks
Daniel

Graham

szczena wrote: »

Solicitor advised to not change the contract but transfer the deeds on the day of purchase to both names.

Nobody here is in a better position or more qualified to give you legal advice than your own solicitor.

szczena

Graham wrote: »

Nobody here is in a better position or more qualified to give you legal advice than your own solicitor.

The same solicitor told me that has no much knowledge about HTB and can't tell me if I should apply for HTB with sole or joints names. Just wonder if someone was in similar situation and was able to add another buyer name to already signed contract. Revenue customer service told me that I need contract with joint names...

Graham

szczena wrote: »

The same solicitor told me that has no much knowledge about HTB and can't tell me if I should apply for HTB with sole or joints names. Just wonder if someone was in similar situation and was able to add another buyer name to already signed contract. Revenue customer service told me that I need contract with joint names...

How far down the road are you with this solicitor?