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13-06-2019, 11:10   #2521
Zedarg
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Hi. I just got approwed for help to buy. Do I have to use it until end of this year?
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13-06-2019, 11:23   #2522
Creamy Goodness
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Hi. I just got approwed for help to buy. Do I have to use it until end of this year?
Yes. It needs to be claimed by December 19th. The government may extend it in budget 2020 but who knows if that’ll happen.
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18-06-2019, 11:03   #2523
Febreeze
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Help to buy application

Myself and my partner have put in an application for the Help to Buy scheme. Our application is currently under review and has been for the last 2 weeks now. Does anyone know how long it can take before we hear back? Also, what is the process of it all? We've seen houses we like and we've got a location in mind. Has anyone gone through this process before? What was their experience? Did they have any back up plans in cause other plans have failed?

Both negative and positive feedbacks are welcomed as we have no clue what we are supposed to do. So far we are saving as much as we can

Edit: we are both in late 20s if that helps anything and based in Dublin

Last edited by Febreeze; 18-06-2019 at 11:07.
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18-06-2019, 11:36   #2524
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18-06-2019, 13:27   #2525
Doff
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Quote:
Originally Posted by Febreeze View Post
Myself and my partner have put in an application for the Help to Buy scheme. Our application is currently under review and has been for the last 2 weeks now. Does anyone know how long it can take before we hear back? Also, what is the process of it all? We've seen houses we like and we've got a location in mind. Has anyone gone through this process before? What was their experience? Did they have any back up plans in cause other plans have failed?

Both negative and positive feedbacks are welcomed as we have no clue what we are supposed to do. So far we are saving as much as we can

Edit: we are both in late 20s if that helps anything and based in Dublin



I had the same issue, give them a ring and they will tell you exactly whats wrong and how to rectify it. Once we rectified our issues the application was proved within a day.


Apply for HTB
Save enough for mortgage
Get approval in principal
Find a new home and place 5k deposit on it, from your savings (This still counts towards your mortgage deposit)
Provide the seller with your HTB number

Get full approval before roughly 21 days while they send the paperwork to your solicitor
Work with solicitor to fill in paperwork
Pay the rest of the deposit on the house once you get full approval
Draw down the mortgage and pay through your solicitor


Not a bad process to be honest, our solicitor was amazing and guided us through the whole process.
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18-06-2019, 14:30   #2526
Febreeze
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Originally Posted by Doff View Post
I had the same issue, give them a ring and they will tell you exactly whats wrong and how to rectify it. Once we rectified our issues the application was proved within a day.


Apply for HTB
Save enough for mortgage
Get approval in principal
Find a new home and place 5k deposit on it, from your savings (This still counts towards your mortgage deposit)
Provide the seller with your HTB number

Get full approval before roughly 21 days while they send the paperwork to your solicitor
Work with solicitor to fill in paperwork
Pay the rest of the deposit on the house once you get full approval
Draw down the mortgage and pay through your solicitor


Not a bad process to be honest, our solicitor was amazing and guided us through the whole process.
Thanks so much for replying.
Do you know how long we can wait before using the HTB number? Can we wait until we have just about enough before we use it or do we have to have a set amount first?

Last edited by Febreeze; 18-06-2019 at 14:34.
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18-06-2019, 17:17   #2527
Doff
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Thanks so much for replying.
Do you know how long we can wait before using the HTB number? Can we wait until we have just about enough before we use it or do we have to have a set amount first?



HTB will match what you have up to 20k, depending how much you qualify for. So if the house is 340k and you qualify for the HTB, you will get a contribution of 17k (5% of house cost) from HTB on the condition you provide the remaining 17k to make up to required 10%.



Generally new home sellers give 21 days from initial 5k deposit for you to get full approval and submit the rest of the deposit, so if you are confident that within that time frame you can get the rest of the funds and full approval then go for it. The actual HTB amount doesn't get taken until draw down, when you submit it first its more of a "I'm using help to buy to cover half of my deposit"
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18-06-2019, 23:53   #2528
FrankC21
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Help To Buy Scheme

Hi,

My fiancee and I are approved with max relief of 17K, I am unsure of what will be the next step in order to claim it what are the things/Documents I need.
At the moment we do not have a price in mind, were still going to the bank to get the maximum mortgage they can give us?
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18-06-2019, 23:58   #2529
rosmoke
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https://www.revenue.ie/en/tax-profes...5/15-01-46.pdf

This should be handy.
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19-06-2019, 00:34   #2530
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19-06-2019, 16:10   #2531
Offtotheraces
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Do you recall how long it took for Revenue to give you the approval in the first place?

Mine seems to be taking ages and I'm getting nowhere with them.

Cheers!
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19-06-2019, 16:22   #2532
Febreeze
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Do you recall how long it took for Revenue to give you the approval in the first place?

Mine seems to be taking ages and I'm getting nowhere with them.

Cheers!
I'm still waiting myself. Applied a few weeks ago and made enquires on the revenue website and still heard nothing. I've tried ringing and I can't get to them at all.
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19-06-2019, 16:39   #2533
CeCe2017
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Hiya, it took about a week or a week and a half. Unless it was a quiet time we happened to apply but I’d check in with them if you can.
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21-06-2019, 17:14   #2534
Paul Tergat
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BOI are telling me that to apply for sanction that includes HTB as a part funding measure I need to have identified an actual property before they will sanction. Does that sound right? Sounds baffling to me.
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23-06-2019, 16:22   #2535
WAL1992
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Hi All

At the very start at the process where I've cleaned up the bank account and am now starting to save some money for a deposit. I like the look of this scheme but does anybody think it will be around next year? I seen an economist recently stated that the scheme should be kept to encourage development but the government isn't great in taking advice from economists
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