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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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iamsosmart

iamsosmart wrote: »

Hey all,

Has anyone got HTB approval recently?

I applied with my partner in January and am still waiting on approval. Revenue advised we require manual review as my partner's employer was using the Employment Wage Subsidy Scheme for a few months in 2020.

It's been almost 7 weeks at this stage though..

Just to update, we got approved today! Had initially applied on 21st Jan.

showpony1

I have been just looking into HTB recently, just wanted to clarify as i may have this totally wrong;

Taking, for example, a €350,000 new build which would require 90% Mortgage = €315,000 Mortgage + €35k Deposit required.
When i entered this data on a new build mortgage calculator it showed Requirement of - €5k Cash Deposit + €30k HTB Rebate.

I had assumed when you obtained the €30k HTB relief, you would knock this off the price of the house and still require deposit for bank.
i.e. €350,000 - €30,000 HTB = €320,000. So a €32,000 bank deposit still required? or is it only the 5k above mentioned needed?

Milena009

showpony1 wrote: »

I have been just looking into HTB recently, just wanted to clarify as i may have this totally wrong;

Taking, for example, a €350,000 new build which would require 90% Mortgage = €315,000 Mortgage + €35k Deposit required.
When i entered this data on a new build mortgage calculator it showed Requirement of - €5k Cash Deposit + €30k HTB Rebate.

I had assumed when you obtained the €30k HTB relief, you would knock this off the price of the house and still require deposit for bank.
i.e. €350,000 - €30,000 HTB = €320,000. So a €32,000 bank deposit still required? or is it only the 5k above mentioned needed?

So basically, You need to pay 5k booking deposit. You then can go onto claiming htb with loan offer & contract signed.
Deposit as total is 10% so 35k in this example [30k coming from Help to buy)

Hope this helps.

rose_2

iamsosmart wrote: »

Just to update, we got approved today! Had initially applied on 21st Jan.

I got a message today saying my HTB application was cancelled. Applied in January

Klopp

Seaandwind wrote: »

This happened us too, I rang the PAYE helpline and they could tell us we had tax owing. However that is still coming up on our application. We were told it is a waiting game now but to be honest it is very frustrating as we applied Jan 15th. There is no way to contact them bar the My Enquiry tab which I did and heard nothing either. Not sure what else we can do.
Hopefully you get sorted soon.

Thanks, when i requested a SOL for this year it told me i owe 2 cent and partner owes 3 cent but no option to pay? I'll ring them this week and see what they say about our application.

Busi_Girl08

maon04 wrote: »

Hi,

I am confused. We are just waiting for a call to get our house keys and instead we got an email from our solicitor saying that the builders have problems getting the funds from our help to buy (combined we got the 30k)
It seems like they only can access my tax refund but not my partners?? (Which is the one that has the biggest amount)

Could be a mistake from Revenue? Maybe the person sending the money only sent my part and forgot my partners? Is that even possible? Is that something we/revenue/builders are missing?

We are quite frustrated as we were expecting to get the keys today and we packed all already. (Also need to leave the current house before end of the week!!)

Now we made an enquiry to the Revenue, currently in the queue but it can take days or weeks!!! So sooo frustrating...

Any ideas anyone?
Really appreciate it...

Thanks

Just checking if you had any luck with this? My only advice if not yet sorted would be on Revenue's case, keep contacting and chasing, and send on whatever documents you have that say you're at purchase stage and need the funds to confirm.

kev_s88

Hey all. I'm sure there are no new questions here and that all have been answered somewhere along the way but i'll ask anyway and hopefully someone has some advice.

Me and my partner put in a Joint application for HTB at the end of last week. At this stage we are expecting around a 2 week wait to hear back on our application. We were both on TWSS from our relevant jobs for a few months during Summer 2020. Now we are sitting with the large tax bill that is owed.

I know Revenue announced that they would give leeway on HTB applications for people that owe tax due to TWSS, but has anyone seen a notable delay in applications coming back? Has anyone had any issues relating to owed taxes due to TWSS in their HTB?

CKenna

My application still says awaiting membership confirmation for me and my partner applied the 18th of January and no change she accepted the request to join when we applied but still says the same am I missing something?

Busi_Girl08

Some people here (like myself) waited about 6 weeks for theres to go through (I applied on the 14th of January, my partner was approved about 3 weeks later and me another 3 weeks after that - on my part I was on the WSS last year so that delayed things), others were through in a matter of days, others nearly straight away.

They seem to be nearly through the backlogs/delays from the start of the year.

If you're at a critical stage of a house purchase then get on Revenue's case, send on the necessary contracts and advise it needs to be done ASAP.

Seaandwind

CKenna wrote: »

My application still says awaiting membership confirmation for me and my partner applied the 18th of January and no change she accepted the request to join when we applied but still says the same am I missing something?

This happened us and we rang PAYE who found tax that was owed. However we still appear as ‘awaiting membership confirmation’ so who knows. But try ringing PAYE for advice- anyone I spoke to there has been extremely helpful infairness.

[Deleted User]

Confirmation that builder has received their part, only a few days after we got approval (Which only took a few days)

Very pleasantly surprised. Hope it works out for all in the thread.

Markitron

The builder of my house wasn't registered with HTB when we went sale agreed, been waiting 6 weeks for them to sort their application now.

Don't suppose anyone else has been in that situation?

arleitiss

Hi All,

Just wondering how does this process work.

My application for Help To Buy just got approved, I was given Application code and Maximum relief value.

Am I correct to assume this is the following process:

I go to bank/lender and get approved for mortgage (I am sure I will get approved as I went 2 months ago and got rejected only because I had two loans, one of them is closed now).

So now I can combine: [My Deposit/Savings] + [HTB Relief Value or 10% of property value] + Mortgage Value Approved = Total value of property I can afford/buy?

Once I find property and decide to go for it - I will provide all these applications and that will be it?

Or am I getting something/everything wrong here?

Graham

Mod Note

arleitiss, I've merged your post with the main HTB thread.

Renjit

arleitiss wrote: »

Hi All,

Just wondering how does this process work.

My application for Help To Buy just got approved, I was given Application code and Maximum relief value.

Am I correct to assume this is the following process:

I go to bank/lender and get approved for mortgage (I am sure I will get approved as I went 2 months ago and got rejected only because I had two loans, one of them is closed now).

So now I can combine: [My Deposit/Savings] + [HTB Relief Value or 10% of property value] + Mortgage Value Approved = Total value of property I can afford/buy?

Once I find property and decide to go for it - I will provide all these applications and that will be it?

Or am I getting something/everything wrong here?

Refer this:

When you are creating HTB application and submitting it, you do not need any documents. You just have to create the application as single applicant or joint (your spouse). Then you select the tax years you wish to include. And then you submit. Then you will receive the Application number.

After approval (which may take some time and you will get the email) you will see the max claim amount available to you. You will also receive the Access Code which can be used by third party to confirm the max amount available to you. You provide Application number and Access code to the bank for verification of HTB available to you. Bank will provide you Mortgage offer letter (with house details you finalized) or approval in principle (if you are just searching for houses).

Later, you proceed with the claim stage. Where you provide the documentation details (mortgage offer, contract copy, property address etc) and then submit. After this you get the Claim reference number. This is what you provide to your solicitor who then send it to developer solicitor. And the developer claims it.

Refer to the below HTB guide for detailed information:
https://www.revenue.ie/en/property/documents/htb-summary-applicants.pdf

Klopp

My joint application has not progressed. i called the revenue and was advised to submit my query online through the site and i got the below reply earlier.

In reply to your query, as per your HTB application on record I trust this issue is now resolved. However, you should note your HTB application cannot progress as requested documentation remains outstanding.

You should log onto you HTB application and check its status. Please ensure that all Income Tax returns have been filed and a Statement of Liability has issued for all years included in your HTB application.

I have submitted a SOL and for 2017 and 2018 it says i owe a total of three cent. Do the revenue not contact you or am i missing something when i login?

Busi_Girl08

Klopp wrote: »

My joint application has not progressed. i called the revenue and was advised to submit my query online through the site and i got the below reply earlier.

I have submitted a SOL and for 2017 and 2018 it says i owe a total of three cent. Do the revenue not contact you or am i missing something when i login?

Are you able to get through to them on phone at all? Because 3c should absolutely be written off. Or have you tried to pay it off on the portal?

2smiggy

sorry for which is probably a silly question , but maybe someone could give me a quick answer.

I have planning permission granted, and will start a self build soon hopefully. Can the help to buy be applied for after the build has started, and after a mortgage has been approved ? I have yet to finalise the amount of my mortgage. As I will be building on land at home, the value of the house will probably exceed the 70% of the mortgage. All a bit up in the air really.

Renjit

2smiggy wrote: »

sorry for which is probably a silly question , but maybe someone could give me a quick answer.

I have planning permission granted, and will start a self build soon hopefully. Can the help to buy be applied for after the build has started, and after a mortgage has been approved ? I have yet to finalise the amount of my mortgage. As I will be building on land at home, the value of the house will probably exceed the 70% of the mortgage. All a bit up in the air really.

Yeah, read the HTB guideline.
https://www.revenue.ie/en/property/documents/htb-summary-applicants.pdf

First-time self-build applicants
- self-builds who have drawn down the first tranche of the mortgage between 1 January
2017 and 31 December 2021.
- self-builds who have drawn down the first tranche of the mortgage between 23 July
2020 and 31 December 2020 are entitled to an ‘enhanced HTB relief’.

Klopp

Busi_Girl08 wrote: »

Are you able to get through to them on phone at all? Because 3c should absolutely be written off. Or have you tried to pay it off on the portal?

I got a reply back from the online 'My Enquirers i submitted and they said this won't affect my application but they didn't answer any of my other questions, the replies are so generic?

I checked my partners 'Review your tax 2017-20 and selected 2018, she started a new job in December 2018, and here you can see the current Employer, all Gross income, Tax deducted, income for USC, etc. is all blank?

When I go to edit it says to use the P60 for the end of 2018 but it looks wrong as she moved jobs?

morawagin

Hi all,

Just wanted to highlight our situation in terms of Help To Buy and how it needs to be improved in relation to terms & conditions.

We finally got to the stage that we came back to it and got our dream first time buyer new home ( ! ) mortgage loan approved at the 90% LTV ratio in summer last year.

All great ! ....until end of Nov'20 when we got the call from PTSB ( one of 3 banks that we got approval from ) stating that if our employer is on support scheme ( EWSS - Employment Wage Subsidy Scheme ) we might have a issue and previous approval will have to be amended and cut down as in the due process it turned out that my employer ( hospitality industry ) is actually supported by the scheme but that wasn't reflected on my payslip, only thing that changed pay wise was the increase ( ! ) in salary due to our employer being able to secure long term state contract ( still ongoing and will continue )

Worth mention that both me and my partner are on full-time, permanent contract re-issued during pandemic ( my partner also has other employment secured on permanent part-time bases )

So coming back to the mortgage my income wasn't taken into account due to EWSS scheme which is ridiculous and unlogical in my opinion looking at the fact that following recent bank regulation changes, i could come back to full approval amount day after my company will go off the scheme ( how's that would make it more secure to them when i could be lay off in this industry if not for the long-term contract !!!! )

Our loan was reduced below 70% LTV so now we won't be able to avail HTB relief which was approved in full amount available and scale in relation to house price

I believe scheme was introduced to help first time buyers secure funds for deposit and in general boost the housing sector.

Don't get me wrong, i could understand the idea behind introducing 70% LTV ratio required to cut off the cash buyers that have enough funds to secure the mortgage without the state help that could be transferred to more difficult cases...and we are that case !!! but can't get any support now due to new regulations and are left with difficult decisions to make leading up to more financial constrains.

I believe the government, minister of housing should go back and review the scheme for current crazy times if they really won't to help the buyers....not the developers in the end run

Please post your current cases in terms of mortgage, maybe someone was in similar situation

Thanks and sorry for long one here..

muppetkiller

HTB scheme finally approved here took 6 weeks.

Bluebb993

Applying for the HTB here. In my statement of liability from 2020 I had an underpayment of 200€, it says below that this will be taking from my credits over the next few years.

Should this have any impact in my application as I seen a few people here saying they've had issues with a few cents not paid off over the years? Thanks

Monsieur Folie

Bluebb993 wrote: »

Applying for the HTB here. In my statement of liability from 2020 I had an underpayment of 200€, it says below that this will be taking from my credits over the next few years.

Should this have any impact in my application as I seen a few people here saying they've had issues with a few cents not paid off over the years? Thanks

Yes you will have to pay this off before they will approve your application.

This is it

Applied end of January, approved yesterday, for anyone waiting.

Bluebb993

Renjit wrote: »

Check you statement of liability and you can calculate based on taxes paid for last 4 years.

Is this tax deducted without taking your tax credits into account?

Jasna1982

Bluebb993 wrote: »

Applying for the HTB here. In my statement of liability from 2020 I had an underpayment of 200€, it says below that this will be taking from my credits over the next few years.

Should this have any impact in my application as I seen a few people here saying they've had issues with a few cents not paid off over the years? Thanks

Yes, they won’t approve you with an outstanding balance. You can make a payment in full on the Revenue website

kev_s88

we got our approval today after 3 weeks of waiting

We were a bit surprised to get the approval with no hassle as the OH had an underpayment in 2017 of €25 but it looks like Revenue incorporated the clawback of the underpayment into Tax Credits for the next 4 years, along with any outstanding tax from the TWSS. So they weren't looking for any payment of the outstanding amounts.

We had been waiting 2 weeks or so and, just out of interest, decided to raise an enquiry with Revenue for an update last Thursday. We then both got our emails this afternoon to confirm it as approved.

Definitely worth sending in an enquiry if you haven't heard anything

Now we just have to wait for construction to begin again

Bluebb993

Jasna1982 wrote: »

Yes, they won’t approve you with an outstanding balance. You can make a payment in full on the Revenue website

Thanks for that, cleared it earlier today.

mellieb

Has anyone's application just been deleted off the system?? my application was stuck at the "under review" stage for at least three weeks.

Under manage my tax for 2021 it was displaying that my profile required updating, so I put in my current address which lines up with the address on my payroll thinking nothing of it.....

I have been logging in everyday to check for any updates and suddenly today my application is gone, no trace, had to start it from scratch. Beyond annoyed.

As if it isn't already difficult enough trying to get an exception on your own and then secure a spot in a new development without this being added into the struggle.

has this happened to anyone else? any advice??