Originally Posted by joe123
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.
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