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

beefyor1983 · 26-02-2020 9:38am

The rent increase occurs from lack of housing. More houses equals less competition for houses so prices drop its basic demand and supply. No one is going to just stop the htb like that. You really think it's going to stop overnight lol. It will have to be phased out over couple of years. Your scaremongering other people. Your not really thinking of the country as a whole and other people more yourself.
In fact help to buy was nearly cancelled this year only as an election ploy was it renewed it wont last much longer anyway under any government.
It's funny youd rather get 5% of mortgage help and lose out on 3 times as much . I never said you get something for nothing.. what do you mean by that lol

Devil08 · 26-02-2020 10:35am

beefyor1983 wrote: »

The rent increase occurs from lack of housing. More houses equals less competition for houses so prices drop its basic demand and supply. No one is going to just stop the htb like that. You really think it's going to stop overnight lol. It will have to be phased out over couple of years. Your scaremongering other people. Your not really thinking of the country as a whole and other people more yourself.
In fact help to buy was nearly cancelled this year only as an election ploy was it renewed it wont last much longer anyway under any government.
It's funny youd rather get 5% of mortgage help and lose out on 3 times as much . I never said you get something for nothing.. what do you mean by that lol

Dont want to get into politics too much and stray away from the thread topic. But yes I did vote for my own needs. I'm sure most people did. I care about myself first. In terms of getting nothing for nothing, I would take the 20k HTB and gladly pay it back on the house price if its added on, which is what the developers are doing. I'm happy to choose that scenario now rather than like I said wait another couple of years before I can get a house because HTB was scrapped and I've to save 20k more myself.
But each to their own.

beefyor1983 · 26-02-2020 10:51am

So take 20 to pay back 50+ each to their own. I'm near same stage as yourself and if help to buy was scrapped tomorrow I'd be set back a year or two also so I'm not just trying to push a political point even though it was started by others.
Dont start a political point on a thread and then say I don't want to get too political...
No matter who forms help to buy will last this year at least. Thinking from the other side of things though ...If loads of houses where built rent prices would take few years to drop and if I buy now and house prices drop 50k I'll be paying off a mortgage on a house that's worth alot less now.
But things need change our kids shouldn't have to take 10 years to save for a deposit and in the mean time cant rent but need to stay with their parents.

Renjit · 26-02-2020 4:40pm

Hello everyone

How do I contract revenue about HTB still pending? Is there a contact number?

Thanks

Renjit · 26-02-2020 5:26pm

Just an update on this. I cancelled my application. And then created a new one. Selected 2019, 2018, 2017 years for me. And selected 2019 for my spouse. The application got approved instantly and I received the access code right then.

It looks like they have automated the process so that you get the approval right after the submission of application unless your tax years have something pending. Then it may go for manual review. But my amount for HTB reduced a bit. Not sure why.

neddynono · 18-03-2020 11:07pm

Submitted my claim this evening as we’re nearing completion. I was confused as to what to put in for the total amount proportioned. We need to claim 13,000 and as a group we’re entitled to more than that. I put 6500 in for me and 6500 for her so it totaled 13,000 but not sure if this was correct?

Anyone let me know if I done it right?

Maitguel · 20-03-2020 8:40pm

Hi all,

I have an unusual question and hoping someone here might have experience with it. We have gone sale agreed on a property, but it turns out that the property is still in the name of the developer and is the last property to be sold in the development. This property has been finished with some time, but for whatever reason has not been sold to date.

Would this property qualify for the HTB scheme? The revenue website states that the property must never have been used or suitable to be used as a residential home, so not sure what that means? As this property has been completed with a few years, this would mean that it was "suitable" for use as a residential home, so I am thinking it does not qualify which would be a shame.

Would appreciate your views on it.

Thanks.

Smile111 · 10-04-2020 5:35pm

Hi,
So been reading and re reading this on reveunue page but it's not that clear to me.
Do people use this 5% as a deposit?
As in you don't need a deposit saved?
It won't be enough for a deposit though as I thought most houses needed 10 or 20% deposit?

Please help. Head frazzled much !

A Neurotic · 10-04-2020 5:48pm

Smile111 wrote: »

Hi,
So been reading and re reading this on reveunue page but it's not that clear to me.
Do people use this 5% as a deposit?
As in you don't need a deposit saved?
It won't be enough for a deposit though as I thought most houses needed 10 or 20% deposit?

Please help. Head frazzled much !

It can go towards the deposit, to a maximum of 5%.

Effectively meaning you need to save 5% of the total deposit yourself, and (assuming you meet all the criteria), HTB will cover the other 5%.

Smile111 · 10-04-2020 6:15pm

A Neurotic wrote: »

It can go towards the deposit, to a maximum of 5%.

Effectively meaning you need to save 5% of the total deposit yourself, and (assuming you meet all the criteria), HTB will cover the other 5%.

Thanks a mil

SelfBuild2019 · 13-04-2020 8:33pm

Hi all,

Quick query re HTB. We have applied for mortgage approval for €360k, but it's unlikely we'll draw down that much. How does the HTB work in this instance? Do i get €18k even though i may only draw down €340k for example?

GingerLily · 13-04-2020 8:39pm

SelfBuild2019 wrote: »

Hi all,

Quick query re HTB. We have applied for mortgage approval for €360k, but it's unlikely we'll draw down that much. How does the HTB work in this instance? Do i get €18k even though i may only draw down €340k for example?

The minimum of 5%value of the house or the tax rebate available.
17k is the maximum you can get for a house costing 340k

Its based on the house price not the mortgage.

SelfBuild2019 · 13-04-2020 8:42pm

Apologies I forgot to mention that it's a self build, so I take it that it will be based on the banks valuation? I realise that with the 90% LTV rules, i need a €400k valuation, which I don't think will be an issue. So in that instance would i get the 18k or the 20k?

colly10 · 20-04-2020 7:10am

SelfBuild2019 wrote: »

Apologies I forgot to mention that it's a self build, so I take it that it will be based on the banks valuation? I realise that with the 90% LTV rules, i need a €400k valuation, which I don't think will be an issue. So in that instance would i get the 18k or the 20k?

You will get up to 5% of the purchase price up to a max of 20K. The size of the mortgage is irrelevant as long as you’re borrowing at least 70% of the price.
The total of what’s paid including the deposit and mortgage is what matters.
The valuation doesn’t matter

Negative_G · 23-04-2020 12:46am

I need to get a tax clearance certificate to submit my application.

What is the correct selection for applying through my ROS as there is no mention of the HTB scheme. Does it fall under "grant" and "other" and input HTB?

A Neurotic · 23-04-2020 11:13am

Negative_G wrote: »

I need to get a tax clearance certificate to submit my application.

What is the correct selection for applying through my ROS as there is no mention of the HTB scheme. Does it fall under "grant" and "other" and input HTB?

In MyAccount, go to the bottom section 'manage my record' and click on Tax Clearance there. In my case it was a case of clicking that link and I had immediate clearance, hopefully it's as straightforward for you!

Feder · 24-04-2020 4:53pm

Hi all,
I am buying a property and will avail of the HTB scheme. I have the Loan Offer from the Bank and I signed the contract and paid the deposit. I still don't have an exact completion date. If I am not wrong, the HTB funds will be deducted from the final balance when the property is ready, but when should I proceed to claim the funds?
Also they ask to upload the house contract and mortgage contract, is this last one referred to the Loan offer? how long does it take to builders to get the funds after the claim stage?
Thank you

coff66 · 24-04-2020 6:18pm

Feder wrote: »

Hi all,
I am buying a property and will avail of the HTB scheme. I have the Loan Offer from the Bank and I signed the contract and paid the deposit. I still don't have an exact completion date. If I am not wrong, the HTB funds will be deducted from the final balance when the property is ready, but when should I proceed to claim the funds?
Also they ask to upload the house contract and mortgage contract, is this last one referred to the Loan offer? how long does it take to builders to get the funds after the claim stage?
Thank you

In relation to this also, how does it work if the HTB comes off the final balance? Does that mean the amount you draw down is less than you applied for? We are in a similar situation but would want to use the HTB as part of our deposit so that we have cash available upon completion to furnish the house.

tolow · 29-04-2020 10:14am

Finally got my application approved this morning after a delay with my statement of liability from 2019 since January.

Silly question, it has two fields on the notification I received from revenue

Maximum relief available to you: €20,000
Maximum relief available to group: €20,000

I'm guessing we are eligible for the maximum relief of €20,000?

Creamy Goodness · 29-04-2020 10:25am

coff66 wrote: »

In relation to this also, how does it work if the HTB comes off the final balance? Does that mean the amount you draw down is less than you applied for? We are in a similar situation but would want to use the HTB as part of our deposit so that we have cash available upon completion to furnish the house.

you pay your half of the deposit, and the builder claims the other 5%. You don't have to confirm the amount the you get from the bank until further in the process.

tolow wrote: »

Finally got my application approved this morning after a delay with my statement of liability from 2019 since January.

Silly question, it has two fields on the notification I received from revenue

Maximum relief available to you: €20,000
Maximum relief available to group: €20,000

I'm guessing we are eligible for the maximum relief of €20,000?

It's just stating you as a single applicant can claim 20k, as you've paid that much tax over 4 years to get this relief. The group refers to you being a group application, think what these two fields would look like if you only had 10k available to you and your spouse had 5k.

Mitch Connor · 29-04-2020 10:30am

I've seen cases where the 5% HTB has been refunded to the purchaser at a later date - that they had to pay the 10% deposit themselves and then the 5% was given back by the builder.

Initially that is how our house purchase was going to be done, but our solicitor got the developer to use the 5% as part of the deposit starting off. Which was a relief.

A friend of mine had to go the other route and pay the 10% deposit and get the 5% back after.

Creamy Goodness · 29-04-2020 10:42am

Mitch Connor wrote: »

I've seen cases where the 5% HTB has been refunded to the purchaser at a later date - that they had to pay the 10% deposit themselves and then the 5% was given back by the builder.

Initially that is how our house purchase was going to be done, but our solicitor got the developer to use the 5% as part of the deposit starting off. Which was a relief.

A friend of mine had to go the other route and pay the 10% deposit and get the 5% back after.

Same difference, you just won't have access to the funds until the HTB is refunded to you, and I wouldn't draw down until that was completed.

Mitch Connor · 29-04-2020 11:05am

Creamy Goodness wrote: »

Same difference, you just won't have access to the funds until the HTB is refunded to you, and I wouldn't draw down until that was completed.

Its the same at the end, but in my cases it was the difference between having 19k in my bank account after signing the contract and paying remaining deposit and 0 in my bank account, having to wait some unknown period of time for that money to be returned.

Draw down came way after that point. It was months and months. Think it was October when I paid the deposit and March when I drew down.

NeitherJohn · 29-04-2020 3:12pm

Can anyone shed light for me on the "apportion the tax relief" bit of the HTB scheme?

I'm close to getting contracts for a new build and just wanted to know what it means in terms of the claim process.

Is it as simple as dividing the total relief for the application by two and putting that figure in for each of the applicants?

Why would it matter if the apportion was say 70:30 instead of 50:50?

The Sniggles · 09-05-2020 8:58am

Does anyone know if there is a minimum rebate?
Example, applicant has paid 5k over 3 years out of college.
Can they claim that 5 k as a rebate? It's likely 2% of the mortgage.

Thank you!

Feder · 13-05-2020 4:19pm

Hi All,
would anyone be able to help? In the HTB scheme claim stage in the field "deposit payable", do they mean the initial deposit (usually 10\20% of purchase price) or the all balance that needs to be paid to the seller after we drawdawn the mortgage?
Thank you

Creamy Goodness · 13-05-2020 4:21pm

Feder wrote: »

Hi All,
would anyone be able to help? In the HTB scheme claim stage in the field "deposit payable", do they mean the initial deposit (usually 10\20% of purchase price) or the all balance that needs to be paid to the seller after we drawdawn the mortgage?
Thank you

it's the usual deposit 10-20%, don't include the balance of what you'll be paying if paying more out of your pocket to fulfil the LTV to 100%

colly10 · 01-06-2020 1:02pm

Hi, I put in a claim for HTB in December last year. The house still isn't completed and i'm getting an extension of the offer from the bank at the moment.
When that's available, do I need to cancel my claim and do it again so the offer letter uploaded to the claim is the current one?

fifth · 01-06-2020 4:32pm

colly10 wrote: »

Hi, I put in a claim for HTB in December last year. The house still isn't completed and i'm getting an extension of the offer from the bank at the moment.
When that's available, do I need to cancel my claim and do it again so the offer letter uploaded to the claim is the current one?

Is your HTB still approval still valid? I remember having to get approval again in January this year. Not 100% sure but you might want to check that and reapply ASAP if your approval has expired.

colly10 · 02-06-2020 12:33am

fifth wrote: »

Is your HTB still approval still valid? I remember having to get approval again in January this year. Not 100% sure but you might want to check that and reapply ASAP if your approval has expired.

When I go in and view it, it all shows up as it did previously. No sign of it expiring. Thought it only expired if ye didn’t have it fully completed and contracts etc uploaded by year end

eoghan15 · 24-06-2020 4:39am

Hey there,

Apologies if this has been asked already but there are so many posts to go through.

So my partner and I will be going for our first home soon. We have a particular house in mind (new build from a developer). We were hoping to use the HTB to supplement our deposit with the bank. I'm just wondering how does this work. Do I submit AIP to Revenue or do the bank issue Approval with terms that HTB must be drawn to gather the deposit? Also how is the HTB then paid? Will it go to the bank or to my solicitor?

Thanks for any help you can give.

cython · 24-06-2020 8:29am

eoghan15 wrote: »

Hey there,

Apologies if this has been asked already but there are so many posts to go through.

So my partner and I will be going for our first home soon. We have a particular house in mind (new build from a developer). We were hoping to use the HTB to supplement our deposit with the bank. I'm just wondering how does this work. Do I submit AIP to Revenue or do the bank issue Approval with terms that HTB must be drawn to gather the deposit? Also how is the HTB then paid? Will it go to the bank or to my solicitor?

Thanks for any help you can give.

Not being smart, but this is all documented here and on nearby pages on the same site, so there's no point in copy/pasting essentially that verbiage here. If you haven't read that, then I'd suggest that as your starting point.

If you have read it and are still unclear, then you might get better answers by asking more specific questions, as this goes through application and where the money goes/how it is paid.

Rock77 · 25-06-2020 8:06pm

Hi all,

So problem with the bank re help to buy if anyone can put me straight it would be much appreciated.

On my help to buy application (it’s a group application, me and my wife) it says the following

Your max relief available 11,240
Application max relief available 20,000

On my wife’s account it says...

Your max relief available 12,500
Application max relief available 20,000

The problem is we want to claim 5% of the purchase price which is 16,500. The lady at the bank thinks we can only claim 12,500.

I thought my wife could claim 12,500 on her own and I could claim 11,240 on my own but together we could claim up to 20,000....

Please tell me the lady in the bank is mistaken?

Thanks a million

fguinan · 25-06-2020 8:28pm

Rock77 wrote: »

Hi all,

So problem with the bank re help to buy if anyone can put me straight it would be much appreciated.

On my help to buy application (it’s a group application, me and my wife) it says the following

Your max relief available 11,240
Application max relief available 20,000

On my wife’s account it says...

Your max relief available 12,500
Application max relief available 20,000

The problem is we want to claim 5% of the purchase price which is 16,500. The lady at the bank thinks we can only claim 12,500.

I thought my wife could claim 12,500 on her own and I could claim 11,240 on my own but together we could claim up to 20,000....

Please tell me the lady in the bank is mistaken?

Thanks a million

The bank is 100% mistaken.
I had the same when applying HTB.

Rock77 · 25-06-2020 8:38pm

fguinan wrote: »

The bank is 100% mistaken.
I had the same when applying HTB.

That is great to hear.. it doesn’t really make sense what she is saying, I would have thought there would be a way for the bank to verify exactly how much we can avail of.

Thanks a million by the way

fguinan · 25-06-2020 9:29pm

Rock77 wrote: »

That is great to hear.. it doesn’t really make sense what she is saying, I would have thought there would be a way for the bank to verify exactly how much we can avail of.

Thanks a million by the way

There is a webpage that banks can enter your application number and access code to verify how much you can claim... but when I used it I had to print a screenshot.

https://www.ros.ie/help-to-buy-web/queryTool?execution=e1s1

Rock77 · 25-06-2020 9:46pm

fguinan wrote: »

There is a webpage that banks can enter your application number and access code to verify how much you can claim... but when I used it I had to print a screenshot.

https://www.ros.ie/help-to-buy-web/queryTool?execution=e1s1

Yep that’s perfect, I’ll send the screenshot and the link to the lady in the bank.

Problem solved thanks to you fguinan!

Thank you.

cronos · 05-07-2020 10:47pm

I'm curious for the 5 year rule to hold the house for, when will be the earliest it's possible for someone to sell assuming they signed a contract on the first day in mid 2016 when this became available. I'm basically wondering what day exactly is used, is it the moving in day, the day all the money was sent? I assume it's the day the contracts were signed as that's the document revenue would have from the application process. So mid 2021?

eoghan15 · 08-07-2020 10:09am

Hi,

Just a quick question. My partner and I will be hoping to use HTB but I have enough tax paid on my own to cover the 5%. Does my partner need to apply for HTB or can I just apply for the HTB for myself even though we are applying for the mortgage together?

awec · 08-07-2020 10:34am

eoghan15 wrote: »

Hi,

Just a quick question. My partner and I will be hoping to use HTB but I have enough tax paid on my own to cover the 5%. Does my partner need to apply for HTB or can I just apply for the HTB for myself even though we are applying for the mortgage together?

You need to put both names on it as they need to ensure your wife is also a FTB.

eoghan15 · 10-07-2020 7:53pm

awec wrote: »

You need to put both names on it as they need to ensure your wife is also a FTB.

But do I need to use any of her years if we don't wish to? Basically her tax is a little messed up so to use HTB we need to clear that deficit for the years we are looking to claim HTB. But can I add her and not use any of her tax years?

Rock77 · 10-07-2020 8:30pm

eoghan15 wrote: »

But do I need to use any of her years if we don't wish to? Basically her tax is a little messed up so to use HTB we need to clear that deficit for the years we are looking to claim HTB. But can I add her and not use any of her tax years?

The way mine worked was they showed how much I could claim 12,000

How much my wife could claim 13,000

But the max we could claim was 20,000.

We needed 16,000 and I was told we could claim the 16,000 any way we wanted.

Eg. Half each or 12,000 from me and 4,000 from her

eoghan15 · 10-07-2020 10:06pm

Rock77 wrote: »

The way mine worked was they showed how much I could claim 12,000

How much my wife could claim 13,000

But the max we could claim was 20,000.

We needed 16,000 and I was told we could claim the 16,000 any way we wanted.

Eg. Half each or 12,000 from me and 4,000 from her

Ah that sounds grand so then, that's perfect, thank you for your help!

Dylan94 · 10-07-2020 11:05pm

Does anyone know when they (the developer) claim the Help to Buy?

If we put our deposit down now and get the house until Feb will they draw down or in Feb?

If they were to draw down now we would only get €17,000 where as if they done it in the new year it would be €20,000

NeitherJohn · 10-07-2020 11:36pm

It's usually done between drawdown and closing.

coff66 · 20-07-2020 10:20pm

Hopefully this has not been asked before.

Does anybody know what happens if you have signed contracts and letter of offer for a new build and submitted these for the HTB but then the letter of offer expires before mortgage draw down and needs to be renewed?

Further to this what would happen if the builder had already drawn down the HTB and upon looking for renewal the bank refused the mortgage!?

Second part is purely hypothetical, but first part is possibly a position we may find ourselves in.

awec · 20-07-2020 11:00pm

coff66 wrote: »

Hopefully this has not been asked before.

Does anybody know what happens if you have signed contracts and letter of offer for a new build and submitted these for the HTB but then the letter of offer expires before mortgage draw down and needs to be renewed?

Further to this what would happen if the builder had already drawn down the HTB and upon looking for renewal the bank refused the mortgage!?

Second part is purely hypothetical, but first part is possibly a position we may find ourselves in.

First part is very common, you just get a renewed offer from the bank.

coff66 · 21-07-2020 5:49pm

awec wrote: »

First part is very common, you just get a renewed offer from the bank.

Does anything need to be changed on the HTB at that point in that the letter of offer that had been submitted would no longer be the current letter of offer?

We had gotten our letter of offer just at the time of lockdown starting and everything was obviously delayed in relation to the building of the house and progressing with contracts etc. So in the past few weeks things have started moving again and hopefully will be signing contract and letter of offer in the coming weeks and submitting for the HTB.

But obviously the current letter of offer expires in September and drawdown might not happen until November now and our broker is saying we will need to submit a new HTB application with our letter or offer renewal application which has just confused me, as either we will have submitted letter of offer and contract to get the deposit sorted upon signing contracts and if not the HTB approval should be valid until 31/12 if we do not submit paperwork to claim?

un5byh7sqpd2x0 · 23-07-2020 4:16pm

The Help to Buy scheme has been increased in the July Stimulus to 10% / €30,000 (from 5% / €20,000) for the rest of 2020.

Rock77 · 23-07-2020 4:20pm

Itzel Important Shock wrote: »

The Help to Buy scheme has been increased in the July Stimulus to 10% / €30,000 (from 5% / €20,000) for the rest of 2020.

Really? Where did you see this?

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

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