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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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allym

Rory898 wrote: »

Does anyone know how long the application is generally in the Awaiting review stage for a group application?
One member has been successfully added within a day or two but the other has been out for review for over two weeks now

If everything is in order tax wise that should have been gone through in a few days. Maybe give them a ring? Could be something as simple as someone not putting it through on their end.

jen_23

Hi Guys,
Wondering can anyone tell me how the HTB rebate is actually calculated.
Does it go on overall tax paid? Does it need to be over 4 years. For example if I paid 30k tax in 2 years can I apply based on that and get the maximum 5% rebate for what i'm buying?
Are there any calculators that attempt to calculate rebate for you? (Maybe i'm a bit stupid and it's easier than i'm making it out to be? )

Thanks!

GingerLily

jen_23 wrote: »

Hi Guys,
Wondering can anyone tell me how the HTB rebate is actually calculated.
Does it go on overall tax paid? Does it need to be over 4 years. For example if I paid 30k tax in 2 years can I apply based on that and get the maximum 5% rebate for what i'm buying?
Are there any calculators that attempt to calculate rebate for you? (Maybe i'm a bit stupid and it's easier than i'm making it out to be? )

Thanks!

Total income tax over the last four years for applicants up to 5% or 20k

So if you paid 30k income tax (not USC or PRSI) in two years (or four) you'll qualify for the maximum amount - I think!!

Rory898

allym wrote: »

If everything is in order tax wise that should have been gone through in a few days. Maybe give them a ring? Could be something as simple as someone not putting it through on their end.

What number would you recommend ringing them on? I couldn't find a dedicated contact number for Help to Buy

allym

Rory898 wrote: »

What number would you recommend ringing them on? I couldn't find a dedicated contact number for Help to Buy

I haven’t contacted them by phone but others here have had success that way! Maybe just the local number?

sightband

Are you affected in by terms if you AirBnB, or rent a room in a new build within the five year period that restricts full rental of the property after the grant?

djb85

ight be covered already but searched and couldn't find anything.

If you purchase a new build in 2018, is it possible pay the full amount to the developer and then apply for the HTB in Jan 2019? If so, does this get paid into the claimants bank account or do you somehow have to receive back from developer?

allym

No unless you’re self building it goes to the developer. It’s meant to help with the deposit but some developers are taking it off the balance of the purchase price but that would be up to the developer.

Rory898

allym wrote: »

I haven’t contacted them by phone but others here have had success that way! Maybe just the local number?

I contacted the PAYE help desk and the guy I chatted to there was very helpful, seemed it had just gone by the wayside and we had an approval within a few hours!

We're due to move into the house in December, if it runs on and we don't move in until January do we have to do another help to buy application or is it based on the contract signing date?

allym

Rory898 wrote: »

I contacted the PAYE help desk and the guy I chatted to there was very helpful, seemed it had just gone by the wayside and we had an approval within a few hours!

We're due to move into the house in December, if it runs on and we don't move in until January do we have to do another help to buy application or is it based on the contract signing date?

It’s when you sign contracts and pay the deposit.

mooman

Can someone on here clarify for me, should I have received a claim reference number beginning with "C"? We are buying from a contractor and my understanding is that the references starting with C are for self builders solicitors to verify the claim, and buyers have a reference starting with "A".
I could be miles off the ball here but I can't see any other numbers other than the two I have been providing. The contractors solicitors have been going on for 6 weeks now telling me that I have the wrong claim number, my own solicitor doesn't have a glimmer on the process either.

awec

My claim reference started with C. We are not building our own house.

Claim reference is C followed by 8 digits, claim access number is just 6 digits.

z0oT

Atomic Pineapple wrote: »

According to our records you have the following liabilities and/or returns due:

Form 12 not filed [for all 4 years]
P21 not requested [for all 4 years]

Under other group members it shows my wife but states: Awaiting membership confirmation

And finally states at the bottom:

Your application cannot proceed because either you have outstanding issues on your tax affairs or all group members have not confirmed membership of the group. When these issues are resolved this application can proceed.

I have actually just tried applying just to have things ready if a new build we can afford pops up and I'm getting a similar issue.

I've a group created (me & my wife) and both of us are getting told that:

Form 12 for 2017 is not submitted (it is)
Awaiting membership confirmation. (I'm told my wife is awaiting my confirmation, and she's being told I haven't confirmed yet)

Not inspiring me with confidence... will have to ring them.

A question in the meantime though, does applying as an individual or a group really make much of a difference? I would have easily paid 20k (the max you can claim) in income tax over the last 4 years, so we wouldn't necessarily need to go as a group.

Atomic Pineapple

We got married in 2017 which delayed our form submissions for that year. We had to fill out the elected spousal form for tax allocation. This took about 5 working days. I did ring them via the PAYE helpline number and the guy who answered was very helpful. Two days after ringing them everything had gone through.

z0oT

Atomic Pineapple wrote: »

We got married in 2017 which delayed our form submissions for that year. We had to fill out the elected spousal form for tax allocation. This took about 5 working days. I did ring them via the PAYE helpline number and the guy who answered was very helpful. Two days after ringing them everything had gone through.

We too got married in 2017, however we've already filled out the elected spouse form to set us up with Seperate Assessment. Will have to chase them up with a phone call.

Thanks for your answer.

Atomic Pineapple

We're at the claim stage now and checked today what we needed to attach to find out how much we can get.

First, it looks like we need a signed contract from the lending provider, is this just the signed approval in principle form?

Second, it looks like we need to have contracts signed from the estate agents/builders. But in our initial documentation after putting down a house deposit, it states they need to know the HTB rebate amount before contracts are drawn up. Confusing, is there a pre-contract or something that would be sufficient for the HTB to move through the claim part and show us how much we can get?

Creamy Goodness

Atomic Pineapple wrote: »

We're at the claim stage now and checked today what we needed to attach to find out how much we can get.

First, it looks like we need a signed contract from the lending provider, is this just the signed approval in principle form?

Second, it looks like we need to have contracts signed from the estate agents/builders. But in our initial documentation after putting down a house deposit, it states they need to know the HTB rebate amount before contracts are drawn up. Confusing, is there a pre-contract or something that would be sufficient for the HTB to move through the claim part and show us how much we can get?

For me (just done a claim yesterday). The AIP is not sufficient. It needs to be a loan offer letter from the bank which they’ll only issue once you give more details of the house (address, beds, square metres, BER rating etc.).

The initial step of the HTB to will let you know the max you can claim, this is then drawn into the contracts that you sign and then sent to the builder to sign as well. Once they sign they give your solicitor the contract signed by both parties. This is what you need to upload.

Check the “My Enquiries” section of revenue, it should say how much your eligible for.

Atomic Pineapple

Thank you. Is that the "Maximum relief available to you" value? So, if it shows 20k there then we are eligible for the max up to 5% value of the house?

Creamy Goodness

Atomic Pineapple wrote: »

Thank you. Is that the "Maximum relief available to you" value? So, if it shows 20k there then we are eligible for the max up to 5% value of the house?

Yup it’s a max of 20k on a house price of 400k or above otherwise it’s 5%. It’s showing 20K as you’ve paid sufficient tax to get that amount.

Once you fully submit the claim you’ll be asked for he value of the house. The 5% is calculated on that

Glen_Quagmire

Apologies if this has been asked before but when applying for a joint mortgage (not married) do both applicants need to have the HTB grant approved or just one of the two?

allym

Glen_Quagmire wrote: »

Apologies if this has been asked before but when applying for a joint mortgage (not married) do both applicants need to have the HTB grant approved or just one of the two?

I don’t think both need to be approved no, but would you not get more of a rebate applying as a group?

Glen_Quagmire

allym wrote:

I donâ€™t think both need to be approved no, but would you not get more of a rebate applying as a group?

I think the max you can get is 20k which I am approved of myself. Well I was in 2017, I have to reapply as it expired.

My other half has been working part time for the last few years since we had the little one.

Creamy Goodness

Yup the max you can claim is 20k. This can be made up of your rebate and your partners rebate but cannot exceed 20k or 5% of the purchase price which ever is lower.

My application was claimed by the builder yesterday. Guessing now there’s not much else for me to do with regards to the HTB?

Mantis Toboggan

Creamy Goodness wrote: »

Yup the max you can claim is 20k. This can be made up of your rebate and your partners rebate but cannot exceed 20k or 5% of the purchase price which ever is lower.

My application was claimed by the builder yesterday. Guessing now there’s not much else for me to do with regards to the HTB?

Nope once it's claimed I think you're good to go.

awec

Creamy Goodness wrote: »

Yup the max you can claim is 20k. This can be made up of your rebate and your partners rebate but cannot exceed 20k or 5% of the purchase price which ever is lower.

My application was claimed by the builder yesterday. Guessing now there’s not much else for me to do with regards to the HTB?

Can I ask you what format your access code + claim number were in?

Our access code was 6 digits and the claim number a C followed by 9 digits, but our developer came back and said they were wrong? Did you send the number beginning with A?

drinkingwater

Application code: A00123456
Expiry date: 31/12/2018
Access number: 654321
Claim reference number: C00123456

awec

drinkingwater wrote: »

Application code: A00123456
Expiry date: 31/12/2018
Access number: 654321
Claim reference number: C00123456

You sent all of them to your developer?

autumnbelle

Do the applications take long to be drawn down by a solicitor

Creamy Goodness

awec wrote: »

Can I ask you what format your access code + claim number were in?

Our access code was 6 digits and the claim number a C followed by 9 digits, but our developer came back and said they were wrong? Did you send the number beginning with A?

Sure,

Application code A with 8 digits.
Claim reference Code C with 8 digits.
Access code with 6 digits.

I'm pretty sure my Estate Agent only asked for the Application Code and nothing else.

Mantis Toboggan

autumnbelle wrote: »

Do the applications take long to be drawn down by a solicitor

3-5 days I think.