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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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murfilein

we recently bought a house - on the contract i saw the name of the developer, and the company does not appear on the HTB list of developers. does that disqualify me from the scheme?

Blowfish

Billythekid19 wrote: »

Have successfully applied for HTB and given an access code , how do I find out how much exactly revenue will be giving me?

If you log into the application on revenue.ie, you can view the application details and it'll tell you the max amount.

Billythekid19

Have successfully applied for HTB and given an access code , how do I find out how much exactly revenue will be giving me?

GingerLily

stoves1 wrote: »

My partner and i are putting a deposit on a new build house, we were abroad for a few years and are working and paying tax since jan 2019 total paid to now by both circa 9000eu, i cannot register for the HTB as it requires the previous years taxes paid, Is there any advice on how we can claim the HTB. if not any other advice as to our options please

Unless the HTB is extended and I'll purchase next year, probably not a lot iou can do unfortunately.

stoves1

My partner and i are putting a deposit on a new build house, we were abroad for a few years and are working and paying tax since jan 2019 total paid to now by both circa 9000eu, i cannot register for the HTB as it requires the previous years taxes paid, Is there any advice on how we can claim the HTB. if not any other advice as to our options please

Tipsy McSwagger

Got my loan pack today from the bank. Do I just need to upload the letter of approval along with signed contracts?

sarah88

Hi all,

Would really appreciate if someone could offer advise on the following-If you are building a house- who does the HTB get paid to? Revenue sayes:

"If you self-build the property after 1 January 2017, the refund will be paid to a bank account you hold with your loan provider."

My mortgage broker was unsure but believed that the HTB is paid directly off the mortgage (i'm really hoping this is not true). I'm getting mixed information online.

If anyone could clarify, i would be really grateful

Many Thanks, Sarah

Conor_DNG

Hi, I bought a house, first time buyer, in October. 2017. The house was built in 2010/2011 but unfinished at the time but the developer completed the house for the sale. I am the first owner of the house. The developer is approved under HTB and residents of newly built houses in the estate availed of this scheme. Would qualify as the house is not technically new? TIA

stuey89

Hi all, me and my partner are approved for help to buy since last April and is due to expire on December 31st. What I want to know is would I be able to cancel it and reapply in October as I see if you apply for it in October it will keep until March 2020. We want to hold off in buying until the budget and brexit for obvious reasons. Many thanks.

lpool2k05

It may say 25 days but they usually reply within 2-3 days so send them a message..It may push the process as well!

raf25

Hi all, I tried searching through the thread to find an answer and online with no help. Hopefully someone will have an answer.

Me and my partner, applied as a group for this scheme however, in the application itself, it shows on my account that she needs to confirm membership and, on her account, it shows that I do. The application itself shows that it's under review but it's been like this for a week. I'm unsure on how long this can take and the 'My enquiries' portal can take 25 working days for a response. Thanks in advance!

Inoyton

GingerLily wrote: »

https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-15/15-01-46.pdf

This has the information you need, in the clawback section, it's essentially 20% per year of the 5 years!

You are savior. Thank you very much.

GingerLily

Inoyton wrote: »

Hey lads,

I couldn't really find an answer, so decided to post it here. If I buy something with HTB (let's say apartment) and then in few years we have another kid - would I be able to switch to bigger place or I have to stick to this particular one for 5 years.

https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-15/15-01-46.pdf

This has the information you need, in the clawback section, it's essentially 20% per year of the 5 years!

Inoyton

Hey lads,

I couldn't really find an answer, so decided to post it here. If I buy something with HTB (let's say apartment) and then in few years we have another kid - would I be able to switch to bigger place or I have to stick to this particular one for 5 years.

MrsHegsy

fifth wrote: »

I am actually in a similar boat. I have approval from revenue for the HTB up to 20k. However I haven't finished saving up my portion of the deposit yet and won't have it until around March 2020.

I read here on this article:

Not sure if this is actually correct as my mortgage broker said I'd be better to confirm with revenue directly. It does seem like it would be unlikely for the govt not to extend the scheme, but you never know.

You can "Sale Agree" on your new house, and process your help to buy as long as you have signed contracts and proof of mortgage approval. Talk to your builder and ask if they would be happy to receive your help to buy immediately and the remainder of your deposit in March 2020. The main thing would be signing your contracts and getting your mortgage approval I believe.

fifth

Motivator wrote: »

I know this question has probably been asked 1 million times already but there are too many pages to trawl through to get the answer I’m looking for.

I’ve submitted an application that just included my tax certs, I presume it’s a provisional application for the Help To Buy. We’ve paid a booking deposit on the house and halve started the process of meeting with a solicitor to discuss things. Due to gambling activity on my account we’re going to push out the mortgage application until the new year to make sure everything is ok on my statements. The house won’t be ready until August 2020 so we’ve plenty of time to get things in order but I’m worried about the HTB scheme. The cut off date is looming and we won’t have mortgage approval until the new year, will we miss out on the HTB scheme if the mortgage isn’t approved? We’ll have contracts signed on the basis of mortgage approved in principal.

I am actually in a similar boat. I have approval from revenue for the HTB up to 20k. However I haven't finished saving up my portion of the deposit yet and won't have it until around March 2020.

I read here on this article:

Revenue has confirmed that if a first-time buyer submits an application by the end of this year, but doesn’t actually go ahead and purchase their property until 2020, then they will still be eligible for the rebate provided that they make their claim by March 31st, 2020.

Not sure if this is actually correct as my mortgage broker said I'd be better to confirm with revenue directly. It does seem like it would be unlikely for the govt not to extend the scheme, but you never know.

Motivator

I know this question has probably been asked 1 million times already but there are too many pages to trawl through to get the answer I’m looking for.

I’ve submitted an application that just included my tax certs, I presume it’s a provisional application for the Help To Buy. We’ve paid a booking deposit on the house and halve started the process of meeting with a solicitor to discuss things. Due to gambling activity on my account we’re going to push out the mortgage application until the new year to make sure everything is ok on my statements. The house won’t be ready until August 2020 so we’ve plenty of time to get things in order but I’m worried about the HTB scheme. The cut off date is looming and we won’t have mortgage approval until the new year, will we miss out on the HTB scheme if the mortgage isn’t approved by December 31st? We’ll have contracts signed on the basis of mortgage approved in principal.

markyspark

Hi
The HTB scheme ends 31st December
We are approved for HTB but are only in the process of buying a site with planning
Can we use the HTB against the purchase of the site or is it primarily for 'building'
Conscious that we won't have a builder in place prior to the cut off date
Thanks

Mitch Connor

fungie wrote: »

You'd think this is something the solicitor would mention.

Yup. I'm surprised your solicitor seems unaware of this.

It was one of the first things my solicitor said to us.

fungie

awec wrote: »

fungie wrote: »

We haven't uploaded anything to revenue. Our solicitor hasn't mentioned anything about doing it. They just asked for the codes.

Your developer can't claim the grant until you upload signed contracts to revenue.

You'd think this is something the solicitor would mention.

awec

fungie wrote: »

We haven't uploaded anything to revenue. Our solicitor hasn't mentioned anything about doing it. They just asked for the codes.

Your developer can't claim the grant until you upload signed contracts to revenue.

Mitch Connor

fungie wrote: »

We haven't uploaded anything to revenue. Our solicitor hasn't mentioned anything about doing it. They just asked for the codes.

There are two codes. First code us your access code which is your approval for HTB.

You sign your contract.
That is sent to the vendor solicitor.
They send back a counter signed contract.
You upload that counter signed contract to the revenue.
You then get a new code which is the code for claiming the grant.
You give that new code to the vendor, that's the code they are looking for.

fungie

Mitch Connor wrote: »

fungie wrote: »

When our developer tried to claim the grant they get an error saying code invalid but it's correct. Has anyone had this experience? Our solicitor has been no use.

Best bet would be to get on to the Revenue about it.

I assume its the code after uploading your counter-signed contract to the revenue you are having the issue with. I've not got that far in the process myself yet - we should get our counter signed contract back next week so I'll (my wife...) will be on to that step then.

We haven't uploaded anything to revenue. Our solicitor hasn't mentioned anything about doing it. They just asked for the codes.

Mitch Connor

fungie wrote: »

When our developer tried to claim the grant they get an error saying code invalid but it's correct. Has anyone had this experience? Our solicitor has been no use.

Best bet would be to get on to the Revenue about it.

I assume its the code after uploading your counter-signed contract to the revenue you are having the issue with. I've not got that far in the process myself yet - we should get our counter signed contract back next week so I'll (my wife...) will be on to that step then.

fungie

When our developer tried to claim the grant they get an error saying code invalid but it's correct. Has anyone had this experience? Our solicitor has been no use.

fungie

When our developer tried to claim the grant they get an error saying code invalid but it's correct. Has anyone had this experience? Our solicitor has been no use.

Mitch Connor

Thank you all, confirms what i thought, them being annoying but maybe little we can do about it. No signed yet so will see if the solicitor can do something for us.

el Fenomeno

Is your developer on the list of qualifying developers? If not, then you'd be in a spot of bother as they wouldn't get the 5% until they're approved, and thus wouldn't be refunding you anything.

GingerLily

We paid 10% and claimed 5% back at drawdown, it suited us. AFAIK some developers are being awkward about allowing HTB as part of contracts signing.

It is against the spirit of the grant but I believe its allowed!

Dolbhad

Brian201888 wrote: »

No that's not normal, you should be paying 5% and the other 5% coming from the help to buy

Agreed. This is standard. You can have awkward builders that insist on 10% but release the 5% once they receive the help to buy funds. But that is even uncommon since it’s more work for the builder taking money and giving it back. Talk to your solicitor and ask them to go back on this term in the contract if contacts haven’t been signed.