tomister wrote: » Provided the developer is registered for the Help to Buy scheme and you are approved for the amount you require then you would pay 12,500 and Revenue will also pay 12,500 upon approving your claim. In order to avail of Help to Buy you need to first apply for it. To do this your tax needs to be up to date with nothing owed. Then when you are approved, Revenue will outline what is the relief/refund available to you. This is the lower amount of; 5% of the value of the property, your approved relief/refund or €20,000. Once you’ve approval you will need a counter signed contract and proof of mortgage (letter of offer). You then complete the claim on the website and this is then passed to your developer who verifies it and then Revenue issue the funds to the developer
joe123 wrote: » Hey all, Looking for some info on Help To Buy. So from reading online etc, it mentions the Help to Buy refund which is roughly 5% is put towards the deposit on the house. So example - Buying a house for €250,000, the deposit would be €25,000 I see on the revenue site that the HTB refund goes directly to the developer so does this mean the deposit I would pay out of my own account would be €12,500 and the remainder of the deposit is paid directly to the Developer via HTB? If the above is correct, my second question is, do you have to have signed the contracts to avail of the Help to Buy? And if so, doesn't this mean you already have to have paid the deposit? Thanks in advance for any info. Greatly appreciated.
pugw wrote: » Hi could anyone advise is there any harm in applying for the help to buy just to get the approval and see what you would be entitled to claim? Just starting to look at houses now, and want to get approval in principal etc. and don't want to get a surprise at the last minute. We may not end up buying until late 2020.
Sponsorgate wrote: » FAO self builders Revenue got back to me & because my lender has valued the house so high I fall under the 70% LTV. The value they have put on it is signifcantly higher than the amount of money I have budgeted to build it & borrowed from them. I plan on living in the house the rest of my life.Its just really annoying I am unable to claim the HTB . Anyone have a similar experience? Sponsorgate
Dolbhad wrote: » I would check that you both applied together and are linked. Also Have you made claims on tax for those years like medical expenses, education expenses etc?
Dylan94 wrote: » We just applied for the help to buy scheme, we were approved today for €3500. We claimed for 2016, 2017 & 2018. However, during those years we paid €17,000 in income tax between us. We are looking to buy for €400,000ish, so need everything we can get. Thats just normal income tax at 20%, excluding PRSI, USC etc. I have sent revenue a message through the online service, but they tend to take a long time to get back. In the meantime, does anyone have any ideas why it might be so much lower?
Paul Tergat wrote: » Thanks. I had tried that and sent them the letter of offer but they didnt really address the issue, hence me then ringing. I think I will just have to make a few calls tomorrow but just really frustrating it doesn't say at the upload stage anything other than the builders contract. I think I am only at claim stage as it says 'cancel claim' and view as my options but it has given me a reference number.
tomister wrote: » I get what you mean. That step was really unclear as it only asked for the builders contract. What you can do is raise a query in the my enquires and ask them what the status is. If its not at verification then ask them to add the bank's letter of offer. You can attached files to your query. If it is at verification then you're good to go. I just got confirmation that my claim was approved so not being able to select the contractor wasn't an issue.
Paul Tergat wrote: » Thanks and I think I am just explaining myself really badly. I have gone throguh all those details but it only asked for an upload of agreement with the builders and not the mortgage letter of offer so I went on without it. Therefore, having gone through all the steps I have the claim code and also the reference for the builders to claim their 5% but I now don't have the mortgage letter of offer on the revenue portal - I'm not sure if this is a problem and at this stage I can't go back in and add it. Maybe constantly trying revenue is the way to go but got the line of it being tough luck as it's already all submitted.
Creamy Goodness wrote: » ah sorry I misread, once you have your access code you should have a button to start the submission of your details. it'll ask you for purchase price, loan amount, deposit amount etc. I can't remember exact details, but the last step of this process requires the mortgage contract and the loan offer pack, both can be uploaded there. how recent is it that you got the access code? I've found the portal sometimes needs a night or two to process stuff at night before you can proceed to next step. Also keep ringing revenue, when you get an unhelpful person the next in line will be nicer to deal with. I had to ring them twice and got a foul person the first time then the second time they were nice as punch.
Paul Tergat wrote: » Thanks but I have a copy of my mortgage letter of offer - I can't upload it to ROS HTB claim (which is now already submitted - there was only a prompt to upload the agreement with builder which I did). I'm now wondering how I get the letter of offer into the revenue HTB portal?
Creamy Goodness wrote: » Get your solicitor to email you a photocopy of it. remember it needs to show both parties signatures.
Paul Tergat wrote: » Thanks. Wonder how I can get my mortgage contract into the portal then - I already have the claim code and the reference for the claim to pass onto builders but there will be no mortgage contract in revenue. ROS support surprisingly unhelpful....
tomister wrote: » I ended up contacting revenue and they said my claim had gone through to the verification stage successfully. As for uploading the Mortgage contract I was able to upload it and the signed building contract by uploading them one at a time before moving on to the next section. Hope this helps!
Paul Tergat wrote: » Would be interested to know this too - no option for the contractor. It also only asked me to upload the contract to buy and didn't ask me to upload mortgage contract - does that sound right?
tomister wrote: » Has anyone submitted a claim recently? I didn't have an option to select my contractor when going through the process today. And I selected the purchase option as the declaration asked about paying the contractor directly. I've sent my claim code off to my solicitor anyway but just a bit nervous about it now
GingerLily wrote: » I wasn't sure, you didn't seem to have read much about it so it was hard to tell how much research you actually had put in.
Amouar wrote: » We're obviously not that stupid
Creamy Goodness wrote: » It’s kinda obvious that you don’t need help to buy hence these restrictions.
GingerLily wrote: » They'll end up paying the equivalent of the HTB to the bank in interest, lol
Amouar wrote: » Can't find any mention of the 2 years mortgage rule on the revenue website. Can you please post a link?
GingerLily wrote: » Revenues website, first thing that pops up when you Google it
