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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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Jeffy17

ITT-Pat wrote: »

And will that happen automatically or do I need to re-apply.

My application approval states that I'm entitled to €XXX relief, but I've paid more tax this year, so I know it would be more if 2017 is taken into account

Everyone who got approved for HTB has until the 31st December of this year to use it. Then come the 1st of January they will need to re-apply

ITT-Pat

nimmy89 wrote: »

Yes. You won’t claim until you actually buy the house so you won’t be claiming until next year, which will include 2017 taxes.

And will that happen automatically or do I need to re-apply.

My application approval states that I'm entitled to €XXX relief, but I've paid more tax this year, so I know it would be more if 2017 is taken into account

nimmy89

ITT-Pat wrote: »

We've been approved for the help to by scheme earlier this month, but we won't be buying a house until next year.

Will it be possible for us to change the tax years for our application to include 2017, and to remove the 2013 tax year from our application?

Yes. You won’t claim until you actually buy the house so you won’t be claiming until next year, which will include 2017 taxes.

ITT-Pat

We've been approved for the help to by scheme earlier this month, but we won't be buying a house until next year.

Will it be possible for us to change the tax years for our application to include 2017, and to remove the 2013 tax year from our application?

nimmy89

Is the scheme as of when you sign contracts? So if I sign today, but claim the help to buy in January, can it include 2017 taxes or will it be as of todays date (2013, 14, 15, 16)?

Thanks

metricspaces

ec18 wrote: »

mick2311 wrote: »

but will the builder be able to sell the house to somone to else if I delay the contracts 54 days beyond the 21 days

he could probably....it's not official until it's countersigned by the builder, which I imagine will be after you sign.....so yes technically he can sell it to someone else

Builder can sell the house to someone else even after you both sign. He'll just be in breach of contract and have to compensate you a certain amount (based on the conditions in your contract). In a rising market the builder may not actually be at a loss in such a scenario.

ec18

mick2311 wrote: »

but will the builder be able to sell the house to somone to else if I delay the contracts 54 days beyond the 21 days

he could probably....it's not official until it's countersigned by the builder, which I imagine will be after you sign.....so yes technically he can sell it to someone else

mick2311

Jeffy17 wrote: »

I'd imagine that's up to your builder as with some builders will include appliances if contracts returned within 21 days. Personally it seems waiting until January would be in your interest as you'll have difference of 11k (between your HTB allowance now and in January) where your appliances will not cost less than the difference

but will the builder be able to sell the house to somone to else if I delay the contracts 54 days beyond the 21 days

Colonel Claptrap

heritz wrote: »

Will I get an email/notification from Revenue when they release the funds to the developer?

No.

heritz

Will I get an email/notification from Revenue when they release the funds to the developer?

Jeffy17

mick2311 wrote: »

I have recently put down a booking deposit for a new build house. Contracts have not been issued yet but are due out anytime. House will not be built untill April 2018 at the earliest. Here's the dilemma this year help to buy relief is only 4k but if we wait untill next it would be 15k. Any advice would be appreciated. From my understanding if I sign on the 2nd of January next year and use can claim the 15k relief but would a supplier allow this length of delay in signing.

I'd imagine that's up to your builder as with some builders will include appliances if contracts returned within 21 days. Personally it seems waiting until January would be in your interest as you'll have difference of 11k (between your HTB allowance now and in January) where your appliances will not cost less than the difference

mick2311

I have recently put down a booking deposit for a new build house. Contracts have not been issued yet but are due out anytime. House will not be built untill April 2018 at the earliest. Here's the dilemma this year help to buy relief is only 4k but if we wait untill next it would be 15k. Any advice would be appreciated. From my understanding if I sign on the 2nd of January next year and use can claim the 15k relief but would a supplier allow this length of delay in signing.

The_Conductor

ck0 - I've moved your short thread into the main Help-to-buy thread.
All the of the questions you've asked are in this thread already- you would be well advised to spend a little time reading here.

Kind regards-

The_Conductor

ck0

puamch wrote: »

If the HTB is used to pay part of the contract signing amount then amount should be reflected in the contract as it can only be signed by both parties upon transfer of the said amount (e.g. 10% of the total price.)

Would that mean that HTB can be used to partially pay 10% deposit of the property? Basically, we pay 5% from savings to Solicitor account, and we give HTB access code and other details to a Builder who will obtain the rest 5% from revenue? Is that correct? But we don't have anything mentioned in the Contract, shall we?

puamch

If the HTB is used to pay part of the contract signing amount then amount should be reflected in the contract as it can only be signed by both parties upon transfer of the said amount (e.g. 10% of the total price.)

BigAl81

Hi guys,

Does anyone know how long it takes from uploading the contracts to the funds being released to the developer?

Hoping to upload the contracts tomorrow

Thanks.

ck0

Hi,

I didn't find anywhere on boards.ie where it would be summarized the process of applying for htb and related steps.
Can somebody please share?

So far we did:
1. Applied for htb on revenue and received codes
2. provided codes to the builder
3. builder's solicitor issued Contracts to our Solicitor but nothing is mentioned in the Contracts related to htb (thus total amount outlined in the contract is full amount) - is that normal? Let's say if house is 300k and we sign the contract for this price having somewhere on the background approval for htb of 15k - how and when this will reflect the amount to pay? We are stuck on this step. Please help.

Amzie

conf101 wrote: »

If the house isn't going to be built until next summer then January or February would be loads of time to apply. If there's going to be a big difference in the amount you can claim, I'd wait.

Great thanks, I was just worried the application might take a long time to complete.

conf101

Amzie wrote: »

Hi, just need a little advise, we are unsure if we should apply for the HTB online now or in January because our earnings were higher in this year compared to one of the years we would be including If we apply now.

The house won't be fully built until July maybe August. I rang revenue and they weren't very clear just that we can apply in January If we like but our P60s will need to be returned as well. Is it too late to be applying in January eg would it be processed on time or should we just apply now and lose out on extra we would get from HTB?

If the house isn't going to be built until next summer then January or February would be loads of time to apply. If there's going to be a big difference in the amount you can claim, I'd wait.

Amzie

Hi, just need a little advise, we are unsure if we should apply for the HTB online now or in January because our earnings were higher in this year compared to one of the years we would be including If we apply now.

The house won't be fully built until July maybe August. I rang revenue and they weren't very clear just that we can apply in January If we like but our P60s will need to be returned as well. Is it too late to be applying in January eg would it be processed on time or should we just apply now and lose out on extra we would get from HTB?

conf101

Daisy78 wrote: »

How long does it take, on average to get approval for the first stage of this process? Are we talking days or weeks?

Days. Might even be within around 24 hours, depending on what time of the day you submit your application

MayoSalmon

Daisy78 wrote: »

How long does it take, on average to get approval for the first stage of this process? Are we talking days or weeks?

Days

Daisy78

How long does it take, on average to get approval for the first stage of this process? Are we talking days or weeks?

heritz

Just so people know, after trying to upload the signed documents during the evening, it only let me finish the process after midnight, even then, the step where you sign the form and get the claim reference took several minutes to load.

heritz

Nastygal2511 wrote: »

Has anyone tried to upload today? I keep getting an error message.

Same here. I tried to upload the documents for the claim and kept on getting a generic error at the very end. I rang Revenue and they said some people are having issues with the portal and should try again tonight or tomorrow.

Klonker

Nastygal2511 wrote:

Has anyone tried to upload today? I keep getting an error message.

Wouldn't work for me on chrome but other browsers worked.

danny19861986

Don't know what that 21 day thing is and don't care either lol as it has no effect on me and I'd say 99% of people.

AsianDub

Payed 5% and didn't sign within 21 days for the appliances but solicitor stated I'd still be getting them according to the contract when I did sign.

Nastygal2511

Has anyone tried to upload today? I keep getting an error message.

Daniogroove

danny19861986 wrote: »

Cheers for reply.I know that and you know that but clearly my solicitor isn't fully aware of how this works.

Ya i had to explain it all to my solicitor, his solicitor and the developer himself.. it's chronic! But don't be deterred, it's worth way too much to just let it go.