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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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heritz

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

Colonel Claptrap

heritz wrote: »

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

No.

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

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

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.

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

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

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

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

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

Adamtsan

Hi everyone,

I’m sure this has been asked before, i have a joint application for the HTB scheme with my girlfriend that has been under review on her page and awaiting member confirmation on my page for 3 weeks now.

One of the conditions of getting our loan letter which we need to sign contracts on a new build we are buying is confirmation of the HTB.

We have been onto the revenue last week and they have advised us that we simply need to wait, stating that my other half might have a small balance to pay back from one of the years selected but there is nothing they can do about it until it is out of review.

Does this sound right? Has anyone else had this trouble and if so how was it resolved? It just feels that there is something more that could be done to speed the process along as we are being pressured into signing the contracts as soon as possible.

Thanks.

heritz

Adamtsan wrote: »

Hi everyone,

I’m sure this has been asked before, i have a joint application for the HTB scheme with my girlfriend that has been under review on her page and awaiting member confirmation on my page for 3 weeks now.

One of the conditions of getting our loan letter which we need to sign contracts on a new build we are buying is confirmation of the HTB.

We have been onto the revenue last week and they have advised us that we simply need to wait, stating that my other half might have a small balance to pay back from one of the years selected but there is nothing they can do about it until it is out of review.

Does this sound right? Has anyone else had this trouble and if so how was it resolved? It just feels that there is something more that could be done to speed the process along as we are being pressured into signing the contracts as soon as possible.

Thanks.

When you submitted the joint application, your other half should have received an invitation to the application. She then had to log in to Revenue and accept it. She wouldn't have been able to accept it if she had a balance to pay. If you are both on PAYE, then there shouldn't be any balance to pay. If either if you are on income tax, then the system won't let you proceed unless the balance is paid. At least that's how it went for us.

Once it's successfully submitted it goes to Revenue for review. If you are at risk of losing on the deal because of this delay, just mention that to Revenue over the phone.

Adamtsan

heritz wrote: »

When you submitted the joint application, your other half should have received an invitation to the application. She then had to log in to Revenue and accept it. She wouldn't have been able to accept it if she had a balance to pay. If you are both on PAYE, then there shouldn't be any balance to pay. If either if you are on income tax, then the system won't let you proceed unless the balance is paid. At least that's how it went for us.

Once it's successfully submitted it goes to Revenue for review. If you are at risk of losing on the deal because of this delay, just mention that to Revenue over the phone.

She is paye and I am self employed, I had previously applied and been accepted for the scheme, all of my tax affairs are up to date, it is not coming up on my side that I have anything outstanding like it did when I had previously applied(all of which I resolved to gain my application)

It just seem strange that it has been stuck for so long....

jack_frost_09

nimmy89 wrote: »

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

Would somebody know the answer to the above?
My partner and I will probably be signing contracts before year end but closing won't be until middle of next year most likely.
Can we therefore include 2017 taxes in our HTB application if we submit a new application in January?

Thanks

MSVforever

Adamtsan wrote: »

She is paye and I am self employed, I had previously applied and been accepted for the scheme, all of my tax affairs are up to date, it is not coming up on my side that I have anything outstanding like it did when I had previously applied(all of which I resolved to gain my application)

It just seem strange that it has been stuck for so long....

Same here.

After countless calls with Revenue we were advised that my wife owes them €400 in taxes.
I checked previous tax certs and P21 statements and all seem to add up.

Eventually I got to the bottom of this. When we applied jointly for the help to buy scheme we had to file the form 12s. Revenue had issued new P21s which include our combined earnings.
However they forgot to include my health expenses so my wife was undertaxed. This was the exact difference.

I was reassured that everything was in order now and they would approve the next step on HTB application within 24 hours.

Nothing happened though. I came home from work and there was a letter from Revenue in our mailbox. My wife has been chosen for a health expenses audit for the last 4 years.
And the waiting continues....

AsianDub

One of the ways the HTB can be clawed back is if you don't live in the property for minimum 5 years.

How would Revenue know if you sell, what methods can they use to get the money back and would it be all of it
or a percentage of it depending on how long you have lived in the property for?

w/s/p/c/

Hi, can anyone recommend the number to use to contact the revenue in relation to HTB? Can't see any specific number listed on the website.

Have an application in and they have said I owe them, even though on submission of form 12/receipt of P21 they noted they would adjust my 2018 credits to make the collection. They really don't make this process easy! Thanks.

badbeatcentral

Quick question, As was discussed above, the developer are offering appliances if the contracts are signed within 28 days of issuance.

I've progressed my HTB Application to the point of having my access code and an approved application so waiting on signed contracts and final mortgage contract to upload.

I'm putting down 20% Deposit and have paid a portion of this already as a refundable holding deposit. I'm expecting to have to pay the remaining deposit on signing the contracts.

From reading the thread it appears Revenue will pay the HTB funds to the developer. In my case this would bring the deposit i'll have paid way above 20% which i don't want. I'm intending on using the HTB funds to furnish the property.

How can i ensure the funds are paid to me rather than the developer? (as they'll have already received 20% of purchase price).

or

Should i be paying my 20% deposit less the HTB funds when i sign the contract? will the developer countersign the contracts on this basis?

I'll be running this by my solicitor anyway, but if anyone has been through the process.

Colonel Claptrap

When you sign contracts you only need to pay 10% of the purchase price. Let me assume some numbers to illustrate.

Purchase Price: 400,000
Mortgage: 340,000
HTB: 20,000
Savings: 80,000

Booking deposit paid: 10,000

When contracts are signed 10% of the purchase price is due: 40,000.
HTB covers 20,000 with your booking deposit covering 10,000. This leaves 10,000 from your savings.

When the house is ready the balance due is 360,000. Your mortgage covers 340,000 and your savings cover 20,000. This leaves 50,000 of your savings for contents.

Hope that helps.

happycoolrains

Hi,
My contract document is not getting uploaded, and giving me an error for the file types. My document is pdf. How can I proceed.
I am able to upload all other documents.
Any help.
Thanks,
Rains

Jeffy17

happycoolrains wrote: »

Hi,
My contract document is not getting uploaded, and giving me an error for the file types. My document is pdf. How can I proceed.
I am able to upload all other documents.
Any help.
Thanks,
Rains

It's most likely your browser, try a different browser where if problem persists change the file type to JPG

happycoolrains

Thank you,
I already tried that, even try saving it in .tiff it would not take.
Then I printed and scanned it again, it took it as a pdf :-)

Thanks,
Rains

Jeffy17 wrote: »

It's most likely your browser, try a different browser where if problem persists change the file type to JPG

billdara

Hi All,

I might be asking a very obvious question here but if it says in MyEnquiries that my Help to Buy "Claim" has been approved and my HTB refund will be issued in approx. 5 working days. Does this mean that Revenue have actually already went through my application, approved it and I'm all good, or can they still actually reject it at this stage?

The reason I ask is that I submitted my claim on the 1st November and when it was "verified" by builders today (3rd November) I got the message that the claim had been approved. I'm a bit anxious as time is a factor here and I essentially need the money to be in the builders accounts in the next week or else I could be dealing with a lot of hassle.

Thanks in advance,

Billy

maxamillius

Hi Guys,

I just bought a house and have drawn down mortgage etc. Is it still possible to apply for this and get the money retrospectively? Could have done with this at
The time but stupidly never looked into it.

Thanks

MissElle

billdara wrote: »

Hi All,

I might be asking a very obvious question here but if it says in MyEnquiries that my Help to Buy "Claim" has been approved and my HTB refund will be issued in approx. 5 working days. Does this mean that Revenue have actually already went through my application, approved it and I'm all good, or can they still actually reject it at this stage?

The reason I ask is that I submitted my claim on the 1st November and when it was "verified" by builders today (3rd November) I got the message that the claim had been approved. I'm a bit anxious as time is a factor here and I essentially need the money to be in the builders accounts in the next week or else I could be dealing with a lot of hassle.

Thanks in advance,

Billy

When I got the mail saying that it would be in my account in 5 working days it was transferred by 3 working days! Hopefully early next week for you

billdara

Sounds good, thanks for the reply!

Daniogroove

maxamillius wrote: »

Hi Guys,

I just bought a house and have drawn down mortgage etc. Is it still possible to apply for this and get the money retrospectively? Could have done with this at
The time but stupidly never looked into it.

Thanks

check this list and see if the or developer is on it as it'll really help things along
https://www.revenue.ie/en/property/documents/htb-qualifying-contractors.pdf

It needs to be a new build and anyone on the mortgage must be a first time buyer.

There was on option for self build people to apply retrospectively so they might let you, worth a shot. If your developer is not on that list they would need to get their business and your property registered so that may be very hard as they already have your money. if you bought in an early phase of a project you have a chance to hassle them into it or no doubt other potential buyers will.

the final say will still be with revenue though.

binukp

billdara wrote: »

Hi All,

I might be asking a very obvious question here but if it says in MyEnquiries that my Help to Buy "Claim" has been approved and my HTB refund will be issued in approx. 5 working days. Does this mean that Revenue have actually already went through my application, approved it and I'm all good, or can they still actually reject it at this stage?

The reason I ask is that I submitted my claim on the 1st November and when it was "verified" by builders today (3rd November) I got the message that the claim had been approved. I'm a bit anxious as time is a factor here and I essentially need the money to be in the builders accounts in the next week or else I could be dealing with a lot of hassle.

Thanks in advance,

Billy

Hi Billy, How lond did it took to get the refund? Mine is still in 7th day after the message and builder havent got it

Thanks
Binu

Maisie789

I submitted our claim last week. My husband was pending approval on my account for nearly and week but now he's been added successfully. Most people I've spoken to found out within a few days whether or not their claim had been accepted whereas ours is still pending under review. Should I be concerned?

bucky08

Bought house that was not ever lived in house 10 years old can I claim htb scheme...