2017-21 help to buy scheme - megathread. All help to buy discussion here please

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?

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?

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

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.

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.

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

Perfect, just the info I needed.

I’m sure these questions have already been asked at some point in this thread but I might be a while looking back for an answer.

My first question is does it matter if one person has paid more tax over the four years when submitting a joint application? I looked back through my taxes for 2015-2018 and as a single application I have paid almost 20k in income tax whereas my partner was still in college in 2015,2016 and in 2017 and she would have paid very little income tax. Does it matter that the majority of the tax paid was by one person?

My second question is whether any social welfare payments affect an application? My partner was in receipt of Back to Education allowance in 2015, 2016 and 2017.

Final question is if we apply in January and don’t actually end up buying in 2020 can we then re-apply in 2021?

Thanks in advance!

I know this question has been asked a million times but I rang the revenue today and the girl hadn’t a clue what the answer was.

We’ve paid our 10% deposit on our new build, we haven’t applied for our mortgage yet as the move in isn’t for at least another 6 months so we’re going to wait until the new year to apply. We started the HTB application and got the figure that we’re entitled to claim but we couldn’t push it through without the proof of mortgage. Contracts are signed and sealed so we’re all set.

When we get our mortgage approved in the new year, can we claim the figure back direct? Or does it go to the developer who refunds us back the money out of the cash deposit we paid?

Had to wait on a couple of Form 12's being submitted/reviewed.

All complete, now when I go to "continue" the help to buy application Im getting the error:

We're Sorry…
Something went wrong and we are having trouble processing your request at this time.

Please come back later and try again.

Error ID: htb:2065627789717535846

Anyone else get this?

Motivator wrote: »

I know this question has been asked a million times but I rang the revenue today and the girl hadn’t a clue what the answer was.

We’ve paid our 10% deposit on our new build, we haven’t applied for our mortgage yet as the move in isn’t for at least another 6 months so we’re going to wait until the new year to apply. We started the HTB application and got the figure that we’re entitled to claim but we couldn’t push it through without the proof of mortgage. Contracts are signed and sealed so we’re all set.

When we get our mortgage approved in the new year, can we claim the figure back direct? Or does it go to the developer who refunds us back the money out of the cash deposit we paid?

It's very odd to pay full deposit on a new build without mortgage approval, usually you need this to sign contracts.

wirelessdude01 wrote: »

Thought that odd myself as well. Thought you couldn't sign contracts with full mortgage approval.

Yeah I'd be very surprised if a solicitor has allowed everything to be signed without having all the documents from the bank

wirelessdude01 wrote: »

Thought that odd myself as well. Thought you couldn't sign contracts with full mortgage approval.

Unless they initially were going to pay in cash but instead choose to get a mortgage and HTB?

Hmmmmmmmmm

Fia11 wrote: »

Well that's...delightful. I do hope it goes back 'up' soon.

Yeah its still down. Online Chat/email said cancelling and restarting application wont work. On the phone they said it might work.

Ive a feeling they havent a clue and im wondering if it really is down.

If anyone on this thread is able to successfully apply will you update this thread. Signing the contracts is being held up by this now.

Site is back working FYI.

Dolbhad wrote: »

That’s unusual. Most builders who allow the clause want a loan offer to have issued as it as gone to an underwriter (so if it expires your likely to get another one) rather than approval in principle which isn’t worth the paper it is written on for most banks. But you’ll need it for HTB so get one issued and resubmit for new loan offer if it expires and house isn’t done yet

We had the clause put in and didn't have full mortgage approval. Was no problem.

This may be a stupid question, but say I am claiming htb this month, can I include January to November in my claim, as I paid more tax than previous years, even though the year isn't finished yet?