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

myshirt · 29-12-2018 12:17pm

masterboy123 wrote: »

I applied for it 2 weeks ago only.

Should be valid to December 2019 no?

The_Conductor · 29-12-2018 2:10pm

myshirt wrote: »

Should be valid to December 2019 no?

valid for 90 days or within the calendar year, whichever is later.....

myshirt · 29-12-2018 2:30pm

The_Conductor wrote: »

valid for 90 days or within the calendar year, whichever is later.....

Interesting. I didn't know that. Would the op be best reapplying mid Jan then?

The_Conductor · 29-12-2018 2:39pm

myshirt wrote: »

Interesting. I didn't know that. Would the op be best reapplying mid Jan then?

Depends on when they paid most tax and other factors. Also- keep in mind the defined end-date for the scheme.

masterboy123 · 29-12-2018 3:07pm

Approval took around 5 working days. I don't think I can reapply now, given there is already confirmed payment of upto 20,000euros until March. And I hope to avail this in February or before the expiry in March.

myshirt wrote: »

Interesting. I didn't know that. Would the op be best reapplying mid Jan then?

masterboy123 · 29-12-2018 3:10pm

What about 29% deposit, 5% HTB and 66% mortgage?

Making it 66:29:5? Is this still within the limits?

Thanks!

GingerLily wrote: »

The rules state you mortgage has to be at least 70%, not that you pay 30%.

If you have a deposit of 25% and qualify for the full 5% HTB then yes you'll be splitting it out 70:25:5 (mortgage, deposit, HTB).

The_Conductor · 29-12-2018 3:26pm

masterboy123 wrote: »

What about 29% deposit, 5% HTB and 66% mortgage?

Making it 66:29:5? Is this still within the limits?

Thanks!

Nope.

You need a *maximum* of a 30% deposit, inclusive of the HTB lumpsum- the HTB lumpsum is not treated as a separate amount. If you are capable of accessing >30% deposit- the argument is that you do not need the same level of assistance as poor sods who are not in the fortunate position you find yourself in. If its a marginal case- the HTB lumpsum would be reduced by a commensurate amount to bring you in at just under the 30% (until such time as its at zero- in which case you are not constrained by any of the HTB rules, as you'll be ineligible for the scheme).

masterboy123 · 30-12-2018 11:37am

Thanks, it's very much clear now.

So I get 5% from HTB, pay 24.9% deposit from our savings, and mortgage 70.1%.

Cheers

The_Conductor wrote: »

Nope.

You need a *maximum* of a 30% deposit, inclusive of the HTB lumpsum- the HTB lumpsum is not treated as a separate amount. If you are capable of accessing >30% deposit- the argument is that you do not need the same level of assistance as poor sods who are not in the fortunate position you find yourself in. If its a marginal case- the HTB lumpsum would be reduced by a commensurate amount to bring you in at just under the 30% (until such time as its at zero- in which case you are not constrained by any of the HTB rules, as you'll be ineligible for the scheme).

GingerLily · 30-12-2018 11:56am

masterboy123 wrote: »

Thanks, it's very much clear now.

So I get 5% from HTB, pay 24.9% deposit from our savings, and mortgage 70.1%.

Cheers

Mortgage can be 70% it would probably be easier to keep it a 25% deposit.

masterboy123 · 30-12-2018 12:03pm

Ok, i left 0.1% extra margin to be on the safe side in case revenue office audit us.

GingerLily wrote: »

Mortgage can be 70% it would probably be easier to keep it a 25% deposit.

GingerLily · 30-12-2018 12:35pm

masterboy123 wrote: »

Ok, i left 0.1% extra margin to be on the safe side in case revenue office audit us.

GingerLily wrote: »

Mortgage can be 70% it would probably be easier to keep it a 25% deposit.

You're allowed have an exact mortgage of 70% though, your over thinking and over complicating this.

Graham · 30-12-2018 9:48pm

Mod Note

Threads merged

anfieldrd · 31-12-2018 10:29am

If we apply in January 2019, does it take 2018 into account or have you to wait until you get your p60?

I am income tax registered but also work full time, will I be able to claim for my 2018 income even though the accounts won't be completed until summer?

beaz2018 · 31-12-2018 6:20pm

Just wondering if anyone has experience in the process of paying back the HTB balance for departing within 5 years?

The_Conductor · 01-01-2019 7:34am

beaz2018 wrote: »

Just wondering if anyone has experience in the process of paying back the HTB balance for departing within 5 years?

It can be paid back by periodic deduction- or by lumpsum- directly to the Revenue Commissioners. They treat each case individually- but, in general, expect the balance to be repaid in full within 12 calendar months of the self declaration. Apparently its a bitch for them to administer- as each case has to be done manually.

The_Conductor · 01-01-2019 7:38am

Anyone thinking of the HTB scheme- remember- it terminates in legislation on the 31-12-2019 and it has already been highlighted by Finance that it is not expected to be renewed (on numerous grounds- but notably, its intended aim was to deliver new builds to the market, and that is currently happening). Its thought that the HTB lumpsum may be simply be incorporated into CB lending rules for FTBs for 2020 onwards- rather than operating as a separate scheme. There are proposals for a HTB saving's scheme- whereby FTBs would get a 25% topup when they make payments into a deposit saving's account for the purpose of buying a first property- sort of based on the old SSIA scheme of yore. Whether it comes to pass or not, who knows.

Crey86 · 02-01-2019 1:44pm

Hey all, sorry if this has been mentioned before, but I was wondering if anyone had any luck with figuring out if you have to wait for P60s to avail of your 2018 taxes. In the process of buying and need the 2018 taxes to avail of the full rebate.

Will the new PAYE "modernisation" make a difference in the this regard?

Daeltaja · 03-01-2019 7:04pm

Crey86 wrote: »

Hey all, sorry if this has been mentioned before, but I was wondering if anyone had any luck with figuring out if you have to wait for P60s to avail of your 2018 taxes. In the process of buying and need the 2018 taxes to avail of the full rebate.

Will the new PAYE "modernisation" make a difference in the this regard?

I don't think the PAYE changes will have any effect.

But I would like to know the answer to the first question too. I'm pretty sure I've calculated my taxes properly based on my final payslip of 2018 so can input the numbers into the Form 12, but I'm not sure I want to submit it without my p60, though.

Employers need to submit P35's by mid-Feb, which gives Revenue a record of earnings for employees, perhaps they will need those figures to validate the Form 12 data against?

Daeltaja · 03-01-2019 7:34pm

Sorry if this has been answered but I've searched around and came up short on confirming my understanding - As a PAYE worker, I only need to submit Form 12s and receive P21 statements for the years I want to contribute towards the refund? I've paid enough income tax between 2017/18 to hit the 20k limit, so there's no need for me to submit Form 12s for any other years, correct?

Also, the Tax Clearance Certificate is only required for self-assessed workers?

Thanks!

awec · 03-01-2019 8:18pm

Daeltaja wrote: »

Sorry if this has been answered but I've searched around and came up short on confirming my understanding - As a PAYE worker, I only need to submit Form 12s and receive P21 statements for the years I want to contribute towards the refund? I've paid enough income tax between 2017/18 to hit the 20k limit, so there's no need for me to submit Form 12s for any other years, correct?

Also, the Tax Clearance Certificate is only required for self-assessed workers?

Thanks!

I believe you are correct.

Crey86 · 04-01-2019 11:28am

Daeltaja wrote: »

I don't think the PAYE changes will have any effect.

But I would like to know the answer to the first question too. I'm pretty sure I've calculated my taxes properly based on my final payslip of 2018 so can input the numbers into the Form 12, but I'm not sure I want to submit it without my p60, though.

I was wondering the same, I feel like I have everything I need in my final payslip for 2018, I changed job last January, but my previous employment data is all pre-filled when I look at the eForm12.

Charlie · 05-01-2019 3:03pm

Hoping someone might be able to answer this.

Myself and my partner are hoping to buy in 2019. We'll be buying together and getting a joint mortgage. We may buy new, for which HTB will be a nice bonus. I have enough tax paid alone to hit the max 20k rebate. I'm setup on ROS and have P21s for the last 4 years. My partner isn't setup on ROS.

Is there any obligation under HTB for us to apply as a Group if we're getting a joint mortgage - thus necessitating my partner getting setup on ROS and applying for P21s? Or can I apply solo for the rebate, even though it will be for a joint purchase?

Charlie · 06-01-2019 11:33am

Charlie wrote: »

Hoping someone might be able to answer this.

Myself and my partner are hoping to buy in 2019. We'll be buying together and getting a joint mortgage. We may buy new, for which HTB will be a nice bonus. I have enough tax paid alone to hit the max 20k rebate. I'm setup on ROS and have P21s for the last 4 years. My partner isn't setup on ROS.

Is there any obligation under HTB for us to apply as a Group if we're getting a joint mortgage - thus necessitating my partner getting setup on ROS and applying for P21s? Or can I apply solo for the rebate, even though it will be for a joint purchase?

Just a bump on this in the hope someone knows.

GingerLily · 06-01-2019 11:47am

All mortgage applicants have to be on the HTB application, so get him sorted ASAP.

Charlie · 06-01-2019 1:53pm

GingerLily wrote: »

All mortgage applicants have to be on the HTB application, so get him sorted ASAP.

Thanks, will do

masterboy123 · 09-01-2019 12:25pm

I have HTB and mortgage approved. But using the online revenue account it says signed contracts must also be submitted before I could click Next.

I wonder what other documents will system ask for at next stage? And if they pay the money to my solicitor directly?

Anyone been through this?

GingerLily · 09-01-2019 12:46pm

masterboy123 wrote: »

I have HTB and mortgage approved. But using the online revenue account it says signed contracts must also be submitted before I could click Next.

I wonder what other documents will system ask for at next stage? And if they pay the money to my solicitor directly?

Anyone been through this?

Have you read through the pdf?

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

masterboy123 · 09-01-2019 1:52pm

This pdf answers all my Qs.

Many thanks GL

GingerLily wrote: »

Have you read through the pdf?

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

Johnnicholson · 14-01-2019 4:35pm

Hi everyone. Is anyone using their 2018 tax credits towards their HTB rebate?

Submitted my form 12 over a week ago and yet to receive my P21.

When I log into the HTB service in my account, I get this message:

According to our records you have the following liabilities and/or returns due:

Form 12 not filed

2018

P21 not requested

2018

Just wondering if anyone else having the same issue, trying to ring Revenue but keep getting cut off? It's holding us up now and I can't seem to get any resolution!

Johnnicholson · 16-01-2019 11:59am

Johnnicholson wrote: »

Hi everyone. Is anyone using their 2018 tax credits towards their HTB rebate?

Submitted my form 12 over a week ago and yet to receive my P21.

When I log into the HTB service in my account, I get this message:

According to our records you have the following liabilities and/or returns due:

Form 12 not filed

2018

P21 not requested

2018

Just wondering if anyone else having the same issue, trying to ring Revenue but keep getting cut off? It's holding us up now and I can't seem to get any resolution!

Just bumping this in case anyone has any advice at all?
Thank you!

Dand88 · 16-01-2019 6:46pm

Hi all, just a couple of questions very basic sorry in advance just can't get any straight answers off revenue,
1. How exactly does it work my understanding is I have 5% deposit revenue supply the other 5%

2. I will have approx 10-12k by September I know the scheme ends dec19 is this the claim end date or the date to get your application in and approved?

Thanks in advance new to the mortgage scene and not very informative on the while lot

Phileas Frog · 21-01-2019 10:12am

Hi there, Quick one hopefully... I'm looking at buying off plans at the moment, but the houses in question won't be finished until early next year. We'll have contracts signed in the next few weeks though. Does this make me still eligible for the HTB ?

Lynda_Ox · 24-01-2019 9:47pm

Johnnicholson wrote: »

Hi everyone. Is anyone using their 2018 tax credits towards their HTB rebate?

Submitted my form 12 over a week ago and yet to receive my P21.

When I log into the HTB service in my account, I get this message:

According to our records you have the following liabilities and/or returns due:

Form 12 not filed

2018

P21 not requested

2018

Just wondering if anyone else having the same issue, trying to ring Revenue but keep getting cut off? It's holding us up now and I can't seem to get any resolution!

Hey!

I had this problem too. Myself and my partner applied last May and we’re approved so when we went to upload our contracts last week we had to reapply as it had lapsed..
So when I applied from my partners account his form 12 and everything else went through within 24 hours, mine kept saying ‘form 12 not filed - 2018’... so i had filed it on the Tuesday and still had heard nothing up until yesterday when I finally got a pain in my neck after waiting over a week and rang them to be told that it was a problem on their side that they needed to approve my form 12 so that guy said I would be up and running by the end of the day.. so I got up this morning and there was still nothing so I rang again today and the new guy I got told me that whoever I was speaking to yesterday only approbed parts of my form 12 and not the whole lot and that it’s happened a number of times to people over the last couple of weeks..so now it’s finally telling me that I’ve been successfully added to a group :-)

However I’m still skeptical as under the ‘added successfully’ part, it says my partner is still awaiting membership confirmation.... so fingers crossed we’ll get somewhere soon.

With regards to the phone number, if you call this one
*1890 33 34 25‬ and it says they’re too busy and hangs up, call this one instead *(01) 738 3636‬ you’ll get through on one of those line because it happened to me a number of times last week..

Best of luck :-)

Lynda_Ox · 24-01-2019 9:57pm

Crey86 wrote: »

Hey all, sorry if this has been mentioned before, but I was wondering if anyone had any luck with figuring out if you have to wait for P60s to avail of your 2018 taxes. In the process of buying and need the 2018 taxes to avail of the full rebate.

Will the new PAYE "modernisation" make a difference in the this regard?

Hey,

I had to wait for my p60 from my employer to come in before I could apply as you have to submit a form 12 and request a p21... however, your employer also has to submit a p35l (which they have until the 15th of February to do unfortunately...) to the revenue before you can get anywhere as far as I know- but I could be mistaken.

Best of luck :-)

andydurnin · 25-01-2019 12:05am

Hi. I get half way through the HTB form online and it asks Please apportion the group's total refund available between all group members.

When I try, is says Amount entered is greater than relief available. Please review.

Can anyone tell me where I am going wrong.

coolio83 · 26-01-2019 1:12pm

How can you confirm membership of a group on the help to buy scheme?

andydurnin · 28-01-2019 11:29am

Hi. Dose any one know how to contact revenue as I put the wrong address on my application form, I put in co. Louth when I should be co. Meath

SteelyDanJalapeno · 28-01-2019 11:37am

Is there a salary cap on the HTB scheme?

GingerLily · 28-01-2019 11:42am

SteelyDanJalapeno wrote: »

Is there a salary cap on the HTB scheme?

No, the only cap is based on purchase price and obviously the tax you've paid

lostDR · 07-02-2019 12:42pm

Hello all,

I have looked into applying for the HTB for a self build.

Tax paid in same job over the four years 2015-2018

Will I qualify for HTB payment if mortgage is E212,000 but valuation by lender is E350,000.

The_Conductor · 07-02-2019 1:32pm

lostDR wrote: »

Hello all,

I have looked into applying for the HTB for a self build.

Tax paid in same job over the four years 2015-2018

Will I qualify for HTB payment if mortgage is E212,000 but valuation by lender is E350,000.

The value of the property is the assessed value of the property by the lender- which is the 350k. If you only have a mortgage of 212k on this property- the mortgage is just over 60% of the value of the property (aka you have a loan to value ratio of 60%). One of the terms of the scheme is that the LTV ratio must be 70% or higher- thus- you do not qualify, as your mortgage is too low to qualify for HTB assistance. To qualify for assistance- your mortgage would have to be at least 245k (in this case) (or the value of the property reduced to 303k- which isn't plausible).

GJFT · 08-02-2019 12:55pm

Hi. I need a bit of help. Myself & husband applying for HTB. We're just waiting on Form 12/P21 to be processed for 2018 which they said they'll have done by next week.

When this is done will I then be confirmed as having membership confirmation? When i log in i get a message that my husband is 'awaiting membership confirmation' and when he logs in he gets the same message about me...

I just want to get this moving and its fustrating. Thanks for any help..

awec · 08-02-2019 1:02pm

GJFT wrote: »

Hi. I need a bit of help. Myself & husband applying for HTB. We're just waiting on Form 12/P21 to be processed for 2018 which they said they'll have done by next week.

When this is done will I then be confirmed as having membership confirmation? When i log in i get a message that my husband is 'awaiting membership confirmation' and when he logs in he gets the same message about me...

I just want to get this moving and its fustrating. Thanks for any help..

Yea it gets stuck on that status until both applicants have everything sorted on their end.

Maxed-irl · 08-02-2019 1:56pm

I've applied to the scheme but my application went under review. My partners side shows how much she's entitled to but my side says under review. My question is is mine like this due to the fact my employer hasn't issued me a P60 for 2018 yet therefore not submitting a P35 yet either. I did my P21 from my last pay slip as I only work for the one company.

Maxed-irl · 11-02-2019 1:38am

GJFT wrote: »

Hi. I need a bit of help. Myself & husband applying for HTB. We're just waiting on Form 12/P21 to be processed for 2018 which they said they'll have done by next week.

When this is done will I then be confirmed as having membership confirmation? When i log in i get a message that my husband is 'awaiting membership confirmation' and when he logs in he gets the same message about me...

I just want to get this moving and its fustrating. Thanks for any help..

I rang revenue and the lady that helped me on the phone sent an email and by the end of the day I was approved

New_home_2018 · 11-02-2019 7:54pm

Myself and my partner have put a booking deposit on a house. We are getting a gift from his parents. Our solicitor says that for me to avoid a tax bill the title should be in his name as we are not married. The bank are changing the title deeds to my partner and my name will remain on the mortgage itself.

1)should we put both our names on the help to buy application or just my partners?
2)10% is due next week. We have paid the booking deposit. Do we need the help to buy next week or can we provide it when the contracts close? We have sufficient cash available now to cover the 10%

Thanks

GingerLily · 11-02-2019 8:08pm

New_home_2018 wrote: »

Myself and my partner have put a booking deposit on a house. We are getting a gift from his parents. Our solicitor says that for me to avoid a tax bill the title should be in his name as we are not married. The bank are changing the title deeds to my partner and my name will remain on the mortgage itself.

1)should we put both our names on the help to buy application or just my partners?
2)10% is due next week. We have paid the booking deposit. Do we need the help to buy next week or can we provide it when the contracts close? We have sufficient cash available now to cover the 10%

Thanks

You can use the HTB for paying the balance, if you don't need it at contracts signing then it's easier to leave it until closing.

I've no idea about the gift though, is he able to buy the house by himself? Full deposit, HTB and mortgage approval? If not then you have to have a joint application.

New_home_2018 · 11-02-2019 8:11pm

GingerLily wrote: »

You can use the HTB for paying the balance, if you don't need it at contracts signing then it's easier to leave it until closing.

I've no idea about the gift though, is he able to buy the house by himself? Full deposit, HTB and mortgage approval? If not then you have to have a joint application.

Thanks. No he can't buy it by himself. Will there be any issues with the revenue as his name will be the one on the title and not both names? Or are they just concerned with the mortgage approval?

GingerLily · 11-02-2019 8:14pm

New_home_2018 wrote: »

Thanks. No he can't buy it by himself. Will there be any issues with the revenue as his name will be the one on the title and not both names? Or are they just concerned with the mortgage approval?

If he can't buy it by himself then how is the title going to be in his only name?

Are you planning on being on the mortgage?

New_home_2018 · 11-02-2019 8:18pm

GingerLily wrote: »

If he can't buy it by himself then how is the title going to be in his only name?

Are you planning on being on the mortgage?

Yes. Apparently it's quite common with unmarried couples. It'll change to my name on the title when we're married

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

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