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

Techn0 · 29-01-2020 5:07pm

Hi guys,

Quick question - I am HTB approved now and have been approved for how much I need. In terms of next steps, I read on previous pages that to release the funds to the developer I need to upload a signed contract and a mortgage approval letter. What happens if the mortgage approval letter does not cover the remaining 90%? For example, I am signing the contracts with a "subject to mortgage clause" as the build will not be ready for some time. I will be getting a substantial pay rise in the coming months (before house completion) and I will be mortgage approved on that revised salary.

Will it be suffice to upload the current approval letter? I will be signing contracts in the coming weeks (and as such paying the deposit) so I won't have an approval letter for the remaining 90% at that time.

Thanks in advance!

DaveyDave · 29-01-2020 6:48pm

DaveyDave wrote: »

Revenue are saying our HTB needs to be cancelled so we can start again. I don't see an option to cancel on either of our ends? It's under review, but they incorrectly told her she owed money and ended up overpaying them and is due a refund, which is apparently supposed to cancel the application but it didn't, but they're telling us to cancel on our end because they can't do it...

Just to follow up on this, I rang them today for clarification regarding cancelling the application, which isn't possible on our end, and she said there's no need to cancel. As the overpayment refund was submitted they'll do a quick check of the year in question and process as normal. She put my number on the HTB application so they could call if there was any further issues.

17:01 email notification, our application was successful. Thank Christ, we paid a booking deposit and our contracts will be issued soon so we were getting worried about the delays and issues we were having.

Just need to get the contracts signed by both parties and our loan offer now.

siblers · 29-01-2020 7:28pm

I assume that amount you get in the HTB won't be reduced off your deposit amount? Say if you got HTB of €10,000 and you needed 25,000 to secure a deposit for a mortgage , that 10,000 won't be deducted off the deposit? So you'd only need 15,000 instead?

Thanks

scabo33 · 29-01-2020 7:44pm

QQ, what happens after you send off the mortgage offer and contract of sale to revenue? Am I good to tell the builder log on to withdraw funds now or do I have to wait for further correspondence. It never said!

awec · 29-01-2020 8:03pm

siblers wrote: »

I assume that amount you get in the HTB won't be reduced off your deposit amount? Say if you got HTB of €10,000 and you needed 25,000 to secure a deposit for a mortgage , that 10,000 won't be deducted off the deposit? So you'd only need 15,000 instead?

Thanks

That's exactly how it works. If you needed 25,000 and got approved for 10,000 then you need to save 15,000 of your own money and the other 10,000 comes from HTB.

siblers · 29-01-2020 8:11pm

awec wrote: »

That's exactly how it works. If you needed 25,000 and got approved for 10,000 then you need to save 15,000 of your own money and the other 10,000 comes from HTB.

Excellent thanks

neddynono · 29-01-2020 9:07pm

neddynono wrote: »

Not sure what to do myself. We both got our SOL back and my missus had underpayment. She paid with credit card and now her side says help to buy is under review and I’ve joined successfully but mine still says awaiting her to join and application can not proceed. Don’t know weather to wait see what happens or cancel and start again. Interesting that I have option to cancel application but she doesn’t?

Anyone been in this situation?

Update on this. Left it all alone and got approval today around lunchtime. Was an odd one as herself got a message from them saying she underpaid for 2017 but she didn’t. If we did we wouldn’t have got approved last year which we did. Says we’re approved anyway when we log in and phoned them and they say approved too

Techn0 · 29-01-2020 9:20pm

Techn0 wrote: »

Hi guys,

Quick question - I am HTB approved now and have been approved for how much I need. In terms of next steps, I read on previous pages that to release the funds to the developer I need to upload a signed contract and a mortgage approval letter. What happens if the mortgage approval letter does not cover the remaining 90%? For example, I am signing the contracts with a "subject to mortgage clause" as the build will not be ready for some time. I will be getting a substantial pay rise in the coming months (before house completion) and I will be mortgage approved on that revised salary.

Will it be suffice to upload the current approval letter? I will be signing contracts in the coming weeks (and as such paying the deposit) so I won't have an approval letter for the remaining 90% at that time.

Thanks in advance!

Bumping this - anyone had a similar experience?

tomister · 29-01-2020 10:30pm

scabo33 wrote: »

QQ, what happens after you send off the mortgage offer and contract of sale to revenue? Am I good to tell the builder log on to withdraw funds now or do I have to wait for further correspondence. It never said!

At the end of the process of submitting the claim you should have gotten your claim code. It'll be in your "My Enquires" if you didn't note it down. You need to pass this along with your Access Code to your solicitor and they will pass on to the builder. They will then verify all the details and approve it.
Once this is done its paid out in about 5 days.

tomister · 29-01-2020 10:45pm

Techn0 wrote: »

Hi guys,

Quick question - I am HTB approved now and have been approved for how much I need. In terms of next steps, I read on previous pages that to release the funds to the developer I need to upload a signed contract and a mortgage approval letter. What happens if the mortgage approval letter does not cover the remaining 90%? For example, I am signing the contracts with a "subject to mortgage clause" as the build will not be ready for some time. I will be getting a substantial pay rise in the coming months (before house completion) and I will be mortgage approved on that revised salary.

Will it be suffice to upload the current approval letter? I will be signing contracts in the coming weeks (and as such paying the deposit) so I won't have an approval letter for the remaining 90% at that time.

Thanks in advance!

It depends on how much the mortgage covers - your LTV for the HTB scheme must be a minimum of 70% to be eligible.
If you're over the 70% then you could submit the docs as they are now to complete the claim as you could have the remaining in savings.
Is your current approval letter an Approval in Principle or an actual Letter of Offer? From memory you need to upload the Letter of Offer for the HTB application process - might be something to look into

scabo33 · 29-01-2020 10:48pm

tomister wrote: »

At the end of the process of submitting the claim you should have gotten your claim code. It'll be in your "My Enquires" if you didn't note it down. You need to pass this along with your Access Code to your solicitor and they will pass on to the builder. They will then verify all the details and approve it.
Once this is done its paid out in about 5 days.

Thank you I have passed the details on. I then thought I might have jumped the gun and needed revenue to look at the documents etc. Appreciate the reply!

Techn0 · 29-01-2020 10:54pm

tomister wrote: »

It depends on how much the mortgage covers - your LTV for the HTB scheme must be a minimum of 70% to be eligible.
If you're over the 70% then you could submit the docs as they are now to complete the claim as you could have the remaining in savings.
Is your current approval letter an Approval in Principle or an actual Letter of Offer? From memory you need to upload the Letter of Offer for the HTB application process - might be something to look into

Thanks for the reply.

As it turns out on my current income levels I was approved for €178,000 and the house price is €255,000, so 69.8% :mad::(

robinse3 · 31-01-2020 11:03am

Are people still getting the error message when trying to apply? My partner is still unable to join my group, this has been happening since last Thursday. Been on to the revenue numerous times and still nothing is resolved.

coff66 · 31-01-2020 5:57pm

MagicManCan wrote: »

For our HTB application it's saying under review, but when I check it it's says it's awaiting membership confirmation from my partner and when she checks it says it's awaiting membership confirmation from me? Neither of us have any options when viewing the page so kinda unsure what we should do?

Currently in the same situation since early in the week. Does anyone know if we should be following this up or if it's part of the process?

REVCOLIM · 31-01-2020 6:13pm

robinse3 wrote: »

Are people still getting the error message when trying to apply? My partner is still unable to join my group, this has been happening since last Thursday. Been on to the revenue numerous times and still nothing is resolved.

I am having the same problem myself. I cannot seem to get help anywhere (and I work for Revenue). Really getting frustrated with it at this point.

REVCOLIM · 31-01-2020 6:22pm

Mossyman wrote: »

Both my wife and myself are unable to apply as we keep getting to the page with the years we want to use and when we click continue it keeps getting the attached error. I last tried it on Monday and tried it again this morning (both my wife and myself) and getting the same error again.

I tries calling Revenue and they told me I can only go through the enquiries route. Is this true? Is there a number I can call? It's getting frustrating now as it's been happening since last week.

We are hoping to close on our house in the next few weeks and are getting anxious.

we are getting the same error. we have a deposit down on a house and are getting approval on the mortgage next week. I would love to know how much we are entitled to before we proceed. so frustrating.

Dolbhad · 31-01-2020 6:26pm

To those getting error messages and saying awaiting memberships. Mine said all those and then we got approved Wednesday. So seems to be as long as it says under review it’s in a queue

robinse3 · 31-01-2020 6:32pm

REVCOLIM wrote: »

we are getting the same error. we have a deposit down on a house and are getting approval on the mortgage next week. I would love to know how much we are entitled to before we proceed. so frustrating.

We are in the exact same boat. We have been getting the same error message since last Thursday. We put down our booking deposit last Saturday and the contractor is putting us under pressure for application number and code so they can draw up contracts.

I have rang every day this week, it’s impossible to get a clear answer. Every time I ring they assure me it’s been fixed and the system will update in 24hours however nothing has changed. We must have tried nearly 100 times at this point and just continue to get the error message. It’s allows you to get as far as selecting the 4 years and then the next page is an error. I’ve attached an image of what we keep getting. It’s beyond frustrating at this point

REVCOLIM · 31-01-2020 7:01pm

robinse3 wrote: »

We are in the exact same boat. We have been getting the same error message since last Thursday. We put down our booking deposit last Saturday and the contractor is putting us under pressure for application number and code so they can draw up contracts.

I have rang every day this week, it’s impossible to get a clear answer. Every time I ring they assure me it’s been fixed and the system will update in 24hours however nothing has changed. We must have tried nearly 100 times at this point and just continue to get the error message. It’s allows you to get as far as selecting the 4 years and then the next page is an error. I’ve attached an image of what we keep getting. It’s beyond frustrating at this point

If I see that error message one more time i'm going to cry. I work in Revenue and I have rang several times and i'm getting different answers each time. I reckon that there might be a fix over the weekend (usually happens with other issues) and also with it being a new month that it might just fix its self.... very promising i know !!

at this stage i think i just need to go and light a candle and pray its fixed soon !

Indri · 01-02-2020 3:52am

asscookies wrote: »

Hello,

We're actually coming out the other side of this, sold our house that we used the HTB to purchase. Has anybody had to pay the clawback to the revenue? We were hoping to pay it back in increments over a few years as we don't have a lump sum. Didn't make any money from our sale. We weren't happy with what our estate was becoming and we had a long commute that was too much for us. Anyone with any information on paying it back?

Hi, did you find out anymore on this. We have just sold and were wondering the same. Solicitors and even revenue helpdesk seem clueless on this.

Dolbhad · 01-02-2020 7:19am

The first few days of error message I did cancel our application and resubmit. Then it was saying for each us when we logged in, awaiting membership of other group member but did say application was under review. That was last Friday. Wednesday our approval came in.

In regards to clawback you have to pay in full to revenue within three months from when you cease occupation of house. Clawback depends on how long you were there. Details on revenue below:

https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-15/15-01-46.pdf#page21

robinse3 · 03-02-2020 12:33pm

REVCOLIM wrote: »

If I see that error message one more time i'm going to cry. I work in Revenue and I have rang several times and i'm getting different answers each time. I reckon that there might be a fix over the weekend (usually happens with other issues) and also with it being a new month that it might just fix its self.... very promising i know !! at this stage i think i just need to go and light a candle and pray its fixed soon !

Have you got it sorted? We are still getting there error message :mad:

af666x · 03-02-2020 3:56pm

Just a quick question RE individual vs group applicants - we're getting the same HTB error, and we've confirmed the error is on my partner's end (i can create the application and add her, however when she tries to join, or create her own application, she gets an error).

If I were to apply as an individual applicant, would this cause any significant problems?

Mossyman · 03-02-2020 4:12pm

robinse3 wrote: »

Have you got it sorted? We are still getting there error message :mad:

Still getting this. Last tried on Wednesday and tried again today and still getting the error. On my side and my wife's. So frustrating. We're hoping to get the keys this month.

Can we apply retroactively? Like if we draw down on our mortgage are we still eligible to apply afterwards? Luckily we have our deposit saved regardless.

robinse3 · 03-02-2020 4:22pm

af666x wrote: »

Just a quick question RE individual vs group applicants - we're getting the same HTB error, and we've confirmed the error is on my partner's end (i can create the application and add her, however when she tries to join, or create her own application, she gets an error).

If I were to apply as an individual applicant, would this cause any significant problems?

We are the exact same, my application is going in fine and I have been approved. However my partner keeps getting the error message every time he applies. This has been happening to us since the 23rd of January and I have been trying it on a daily bases since.

I don't want to apply in my own as we will be entitled to more as a group

joe123 · 03-02-2020 4:26pm

Hey all, Ive one more question regarding the help to buy.

So I have received the application code and access number.

When we go to Claim now it requests the following "Please add the relevant attachments to your claim. First time purchasers must provide signed copies of the contract(s) of sale for the home, and the mortgage contract with their lender."

For the signed copies of the contracts, does this also require the developers signed papers or just the documents I signed?

af666x · 03-02-2020 4:32pm

robinse3 wrote: »

We are the exact same, my application is going in fine and I have been approved. However my partner keeps getting the error message every time he applies. This has been happening to us since the 23rd of January and I have been trying it on a daily bases since.

I don't want to apply in my own as we will be entitled to more as a group

That makes sense - thanks for replying

If I've paid over the max 20k myself in the past 4 years, is there any advantage to going as a group?

Cutielaide · 03-02-2020 5:18pm

Mossyman wrote: »

Still getting this. Last tried on Wednesday and tried again today and still getting the error. On my side and my wife's. So frustrating. We're hoping to get the keys this month.

Can we apply retroactively? Like if we draw down on our mortgage are we still eligible to apply afterwards? Luckily we have our deposit saved regardless.

Hi,

I am having same issue as you. I was advised by my contractor it shouldn't be a problem applying on your own, its just you won't get as much as applying in a group.

I have put through the application on my own this morning, got an application code, and now under review. Hopefully i get my access code tomorrow. We just left my partner application, as that error is quite frustrating and we are hoping to drawdown this wek or next.

Anyone know how long it takes to get access code please

Cutielaide · 03-02-2020 5:29pm

joe123 wrote: »

Hey all, Ive one more question regarding the help to buy.

So I have received the application code and access number.

When we go to Claim now it requests the following "Please add the relevant attachments to your claim. First time purchasers must provide signed copies of the contract(s) of sale for the home, and the mortgage contract with their lender."

For the signed copies of the contracts, does this also require the developers signed papers or just the documents I signed?

Hi, how many days did it took to receive your access code please

REVCOLIM · 03-02-2020 6:16pm

robinse3 wrote: »

Have you got it sorted? We are still getting there error message :mad:

No still getting the error message. I'm going to loose my mind ! hopefully in the next few days it might be ok but who knows. >:(

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

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