Mushy wrote: » Quick question on calculating the HTB, myself and wife will be applying when get the 2018 Form 12 back. The 5% figure will be 12,850. Does that mean, between us, we have to have paid 12,850 tax in last 4 years? Have heard we combine and then half the amount paid, hence the question. Between us we'll have comfortably paid enough, but may be slightly less than fat if halved
GingerLily wrote: » You can claim from anyone in the group or split it however you want so that it adds to 5% provided that you've paid enough tax to claim it. I could have claimed the 5% myself where as my husband didn't quite have enough for half that from his tax, so we split it 70/30.
Maxed-irl wrote: » It's based on the tax you paid so if you paid 20k over 4 years you'll be entitled to 5% of the purchase price up to a max of 20k. If you're being offered 12850 it's what tax you've paid
Mushy wrote: » Said I’d put in the application today, got notified no Form 12 submitted for 16 or 18(latter done just last week, former one I re-submitted but is still listed as not filed). I hope this is just a case of calling Revenue to sort it, probably more uptight cos anxious to get the codes to bank/developer
z0oT wrote: » So in our case, the builder still isn't down on the list of contracters on the Revenue's website. Some people have already moved in our development who are First Time Buyers. Apparently they've done a deal whereby they decrease the price by the HTB amount which is good. Now assuming they do get registered by the time we're ready to close, is my thought process below correct to avail of the HTB?Wait for Builder to appear on the List of Qualifying Contracters on the Revenue website. Contact the Bank and get them to reduce the Mortgage amount by the HTB amount and issue a new Letter of Offer. Then do the claim via the Revenue website with the signed contracts and updated (reduced) Letter of Offer from the Bank.
TomasMacR wrote: » Are you absolutely sure that the builder isn't on their list? Some are registered and trading under a different name. What name are they going by while building?
mur223 wrote: » Hi there, Apologies if this has been asked before. We are buying off the plans and we want to use our HTB amount as part of our deposit. We have AIP with KBC but they require a final valuation when the property is completed. Can we use our AIP letter as proof of "mortgage contract with the lender" when we upload our signed contracts to the My ROS website? Or does it have to be the actual mortgage contract/loan pack we receive at drawdown?
Natashaw88x wrote: » Hi we have bought a new build also. It won’t be ready till September. We signed contracts for it last week. We need the signed contracts plus signed loan offer to claim the HTB. We’ve had an initial valuation done and will have another before drawdown. I imagine you will need to get your loan offer and sign contracts with builder and it is the signed contracts that are required for revenue.
vets05 wrote: » Thank you very much GingerLily Its great to have some clarification! If the purchase goes head this year do you know if I can retrospective claim back 2019? Thank you!
smurfette2212 wrote: » It is very possible that this has been asked (and answered) but I just can't see it. When uploading the documents for the claim, does it need to be the entire contract, or just the initial pages and building agreement? I had asked our solicitor to send a copy, but she advised it is very lengthy. I've submitted a query to Revenue, but imagine it might take a while for a response.
z0oT wrote: » Yes, they're not on the list, and they're not trading under a different name. It's been ongoing for a while now. The latest from the Estate Agent is that the registration process is done and they'll be up on the list within a few weeks. Guess I'll believe it when I see it.
el Fenomeno wrote: » Can I ask, we uploaded contracts today for the claim stage and got a Reference number, which we have provided to our solicitor along with our Access code. But at not stage was I asked who our builder/developer was - the only list I was given was the list of institutions to choose which one our loan offer was from. This is for a new build, first time buyer. Any ideas?
awec wrote: » You don't need to specify who the builder is. Your builder will do that when their solicitor claims the money from revenue, using the codes that you gave to your solicitor.
el Fenomeno wrote: » Ah right, thanks. Sorry, I saw people mentioning not being able to find the builder so I was a bit confused is all. Cheers.
smurfette2212 wrote: » Just in the middle of trying to submit the application, but have hit a stumbling block. There are two sections to fill in: deposit payable and amount of deposit paid. The first is the 10%, which is fine. However, we paid the full deposit on signing the contract. However, should we be putting that in the second box, or the 10% less what we are claiming from HTB? We couldn’t get the contracts signed without paying the full deposit, and needed the contracts for the HTB. Has anyone else encountered this? Any advice gratefully received!
GingerLily wrote: » It sounds like you should but down what you paid in both We paid the 10% is cash and didn't make any adjustments for that, we claimed the maximum amount available based on property amount and our tax credits, the value of our deposit paid didn't change anything (provided your mortgage is >70% ltv)
