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

House of love · 19-02-2021 4:58pm

Hi all, I am still waiting after a full month since I applied, I am currently in the limbo of waiting for construction to open, our house was supposed to be finished in April/May. And now who knows when, I am really pissed off that social housing is considered essential and the rest of us who have saved for our deposit (and we all know how hard that is with the rents) and are going to be paying for our houses are not. Are ppl not uppset over this. How is construction and providing homes to ppl not essential for everyone equally? Sorry I'm a bit off the subject, had to vent and wondering if anyone else is in the same mess. Cheers

19-02-2021 9:10pm

Is anything confirmed yet about either social housing or normal construction?

usernamegoes · 19-02-2021 9:20pm

Deleted User wrote: »

Is anything confirmed yet about either social housing or normal construction?

Social has been allowed since the lockdown started in Dec. It's likely all construction will start again in March

Jasna1982 · 19-02-2021 9:34pm

usernamegoes wrote: »

Social has been allowed since the lockdown started in Dec. It's likely all construction will start again in March

No, government announced today construction will remain closed until April at least

usernamegoes · 19-02-2021 9:36pm

Jasna1982 wrote: »

No, government announced today construction will remain closed until April at least

Seeing that now. Jesus this is tiring. I wonder if HTB will be extended due to all this?

19-02-2021 9:47pm

Im only seeing that final decisions will be made on Tuesday and construction and education are priorities, anyone with a link?

usernamegoes · 19-02-2021 9:54pm

Deleted User wrote: »

Im only seeing that final decisions will be made on Tuesday and construction and education are priorities, anyone with a link?

https://www.rte.ie/news/coronavirus/2021/0219/1198040-coronavirus-ireland/

19-02-2021 9:56pm

Ah well. Thanks for linking.

Milena009 · 19-02-2021 10:44pm

usernamegoes wrote: »

https://www.rte.ie/news/coronavirus/2021/0219/1198040-coronavirus-ireland/

They really need to do a proper briefing with restrictions and not just media leaks and interviews

Ronald Franz · 20-02-2021 6:00pm

In the RTE article "No large scale opening of construction"

I presume the standard new build developments would come under large scale.

Personally I think there will be just rolling announcements of lockdowns all year.

So what happens half built shells of houses sitting open to the elements for a year to two years? Are they going to be compromised? Are they going to rush the build when they can open?

bulmersgal · 20-02-2021 6:10pm

House of love wrote: »

Hi all, I am still waiting after a full month since I applied, I am currently in the limbo of waiting for construction to open, our house was supposed to be finished in April/May. And now who knows when, I am really pissed off that social housing is considered essential and the rest of us who have saved for our deposit (and we all know how hard that is with the rents) and are going to be paying for our houses are not. Are ppl not uppset over this. How is construction and providing homes to ppl not essential for everyone equally? Sorry I'm a bit off the subject, had to vent and wondering if anyone else is in the same mess. Cheers

I'm annoyed about this too. My mortgage approval with exception will run out in May, house suppose to be ready in March and as a single parent it will be hard to get it again as was nightmare last time. If I don't have exception I won't be able to afford the house. It's a nightmare and made worse by the fact social housing is allowed but not private. What is the difference? Why am I being discriminated because I'm in much as a need as somebody waiting on social housing. I'm living in a room with my daughter in my parents. It's so frustrating and you feel bad giving out about social housing being built but it's just frustrating the different rules for everybody

House of love · 20-02-2021 7:01pm

The whole situation is horrible and unfair and nothing good will come out of it watch as the house prices skyrocket again after the opening. I feel there is no one to turn too and no one cares...

20-02-2021 9:53pm

The drip-drip of mixed messages and the prioritisation of one construction sector over another are both very disappointing

Ive written a mail to my govt TD about it, would urge anyone in a similar boat to take the time to do so. Its not much but a few coming in might keep it in their minds

Shivs123 · 22-02-2021 10:17am

Hi guys,

Our application finally got approved on Saturday. Turned out I owed 700€ tax from 2019, I never copped it, it held ours up and it ended up getting cancelled.
I paid it off Friday, set up a new application and it got approved Saturday.

Busi_Girl08 · 22-02-2021 10:25am

Mine's still under review 5 weeks on. I have a query pending with Revenue since the 12th and I don't have any way to cancel and start the application again if needed.

Shivs123 · 22-02-2021 6:27pm

Busi_Girl08 wrote: »

Mine's still under review 5 weeks on. I have a query pending with Revenue since the 12th and I don't have any way to cancel and start the application again if needed.

Ring them, you can get them after 3pm easier

Busi_Girl08 · 23-02-2021 9:16pm

WE'VE BEEN APPROVED!! We both got an email at 8pm on the button from Revenue, and I got a reply to my last query, have the access code and a confirmation of funds available. Delighted with that.

The Help to Buy section itselfis bringing up an error message for me again which I presume is down to the transfer from the in review stage to the approved/pre-purchase stage.

But we have the access code and communications from Revenue and instructions on what to do next, so very happy now.

We just need to get a house before it expires

Seaandwind · 24-02-2021 4:54pm

Shivs123 wrote: »

Ring them, you can get them after 3pm easier

Have you a contact for the Help to Buy, I cannot seem to find anything online for it and the number I tried said they close phone lines at 1.30pm!

My application says ‘under review’ and I have accepted member ship / my partner is listed

However on his side it still says awaiting confirmation for me? I am not sure how this is happening. We applied early January.

josh88 · 24-02-2021 8:51pm

Quick question - starting a new build and looking to use this scheme. The fine print states that You must take out a mortgage of at least 70% of the purchase price (or, for a self-build, 70% of the valuation approved by the mortgage provider). How is the valuation of the property done and by whom? I was thinking it would be the cost of the build provided by the contractor but the above has confused me a little.

Any help would be greatly appreciated. Possibly answered before but difficult to find in 258 pages.

Klopp · 26-02-2021 6:57pm

I went to make a joint application today and I got an error about being registered for LPT which is a mistake. I searched the revenue site for an
phone number to call to get it fixed but I can't find any on their site and I am unsure what department I would need to speak with it to get it resolved.

Hoping someone here might be able to help or know what number I need to ring Monday

Seaandwind · 26-02-2021 7:11pm

Klopp wrote: »

I went to make a joint application today and I got an error about being registered for LPT which is a mistake. I searched the revenue site for an
phone number to call to get it fixed but I can't find any on their site and I am unsure what department I would need to speak with it to get it resolved.

Hoping someone here might be able to help or know what number I need to ring Monday

I rang The PAYE helpline to get advice and they were really helpful, but the direct contact to help to buy is through the ‘My Enquiries’ section on ‘My Account’ and you fill in a form there that goes to HTB.

Klopp · 26-02-2021 8:09pm

Seaandwind wrote: »

I rang The PAYE helpline to get advice and they were really helpful, but the direct contact to help to buy is through the ‘My Enquiries’ section on ‘My Account’ and you fill in a form there that goes to HTB.

Thanks, i just fired off my query, hopefully get back quick enough

ec18 · 01-03-2021 10:32am

badger54 wrote: »

Is it permissible to avail of HTB, borrow 70% on a variable rate mortgage, make one payment and then switch to a fixed rate whilst making a lump sum payment so borrowing is reduced below 70%?

I haven't seen anything from Revenue on this.

I assume banks wouldn't care, but perhaps might be wary of advising them in advance.

Thoughts welcome, thankfully HTB and enforced lockdown means mortgage can perhaps be reduced to 60 or 65%.

Yes that's fine. We did something similar afew years ago. the 70% LTV is drawdown only, Most banks also allow you to make a once off payment on fixed rates yearly. Might be worth checking with whatever bank you're going with

01-03-2021 8:48pm

Hi everyone I'm a complete newbie when it comes to HTB. What I know so far is that we have to borrow a minimum of 70% LTV and the current scheme is 10% until Dec 31st.

Currently we have paid a 5k deposit on a new property in a new development which hopefully will be completed in November. The property price is 250k and falls under the HTB scheme. We are gathering our documents together for the bank to get mortgage approval. Lets say we get the HTB amount of 25k (10%) who does that go to? And also can we find out what we are entitled too before getting approval for a mortgage just so we would know how much we are getting so that we can offset that against how much we want to borrow from the bank?

Does it also take long to find out how much we are getting from HTB?

Many thanks.

Jasna1982 · 01-03-2021 8:50pm

offalyandroid wrote: »

Hi everyone I'm a complete newbie when it comes to HTB. What I know so far is that we have to borrow a minimum of 70% LTV and the current scheme is 10% until Dec 31st.

Currently we have paid a 5k deposit on a new property in a new development which hopefully will be completed in November. The property price is 250k and falls under the HTB scheme. We are gathering our documents together for the bank to get mortgage approval. Lets say we get the HTB amount of 25k (10%) who does that go to? And also can we find out what we are entitled too before getting approval for a mortgage just so we would know how much we are getting so that we can offset that against how much we want to borrow from the bank?

Does it also take long to find out how much we are getting from HTB?

Many thanks.

For me, as a single applicant with all taxes in order, I got approved instantly and it showed me the full amount I’m eligible for

01-03-2021 8:53pm

Jasna1982 wrote: »

For me, as a single applicant with all taxes in order, I got approved instantly and it showed me the full amount I’m eligible for

I have submitted all our of tax income reports for the last four years. When it comes to doing the actual HTB application do we have to upload any proofs such as mortgage offer or copy of contract if say we just want to find out how much we are entitled too? We would love to have the exact amount know so we can advise that to the bank.

Renjit · 01-03-2021 10:16pm

offalyandroid wrote: »

Hi everyone I'm a complete newbie when it comes to HTB. What I know so far is that we have to borrow a minimum of 70% LTV and the current scheme is 10% until Dec 31st.

Currently we have paid a 5k deposit on a new property in a new development which hopefully will be completed in November. The property price is 250k and falls under the HTB scheme. We are gathering our documents together for the bank to get mortgage approval. Lets say we get the HTB amount of 25k (10%) who does that go to? And also can we find out what we are entitled too before getting approval for a mortgage just so we would know how much we are getting so that we can offset that against how much we want to borrow from the bank?

Does it also take long to find out how much we are getting from HTB?

Many thanks.

If you are buying a new development then the amount will be claimed directly by the developer. You provide the claim reference number to your solicitor and it gets passed over to developer solicitor.

You will only know the amount once your application is approved. Otherwise check your statements of liability and the taxes paid by you. Sum of those should be near to your limit provided you haven't claimed any other benefits by the state. If so, you will have some reduction in the approved amount.

Meanwhile, ask for max approval in principle. This can be adjusted easily later when you go for actual mortgage offer letter and the amount is less than or equal to AIP amount.

Renjit · 01-03-2021 10:25pm

offalyandroid wrote: »

I have submitted all our of tax income reports for the last four years. When it comes to doing the actual HTB application do we have to upload any proofs such as mortgage offer or copy of contract if say we just want to find out how much we are entitled too? We would love to have the exact amount know so we can advise that to the bank.

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.

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

01-03-2021 11:53pm

Renjit wrote: »

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.

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

Thank you so much, this is really helpful. Any idea on how long it takes for the approval? Weeks months?

Renjit · 02-03-2021 12:06am

offalyandroid wrote: »

Thank you so much, this is really helpful. Any idea on how long it takes for the approval? Weeks months?

Takes few weeks (10 -15 days). And sometimes it is instant.

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

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