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31-07-2020, 05:59   #3151
arelyn
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Hello Guys
What's the story with the Bill?..I recognized that the bill has passed through the Dail and seanad 5stages of debate and it's about to be signed into law by the president but my concern is that the section 8 that borders on the Help to Buy increment was opposed both in the Dail and Seanad.

Does this mean that section of the bill won't be included in the actual law and the increment from 5% to 10% is as good as dead?

Anyone with a better understanding of the process should please shed more light on this

Last edited by arelyn; 31-07-2020 at 10:14.
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31-07-2020, 08:14   #3152
dalex15
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Hello Guys
What's the story with the Bill?..I recognized that the bill has passed through the Dail and seanad 5stages of debate and it's about to be signed into law by the president but my concern is that the section 8 that borders on the Help to Buy increment was opposed both in the Dail and Seanad.

Does this mean that section of the bill won't be included in the actual law and the increment from 5% to 10% is a good as dead?

Anyone with a better understanding of the process should please shed more light on this
Can't advise of the process but if that's how is going to be, the bill will be pretty much useless to most applicants.
Most applicants were having trouble to even reach the max 20k in taxes or by being able to buy a 400k property.
To think that now the only applicants to avail of the maximum of the scheme, would be very high earners and new builds worth 600k. If the bank would give you a 600k mortgage during these times, you must have 170k annual combined salary.

If you have a 170k annual combined salary, I'm pretty sure if you really want to buy your first property you can do so without government help.
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31-07-2020, 08:43   #3153
GingerLily
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Can't advise of the process but if that's how is going to be, the bill will be pretty much useless to most applicants.
Most applicants were having trouble to even reach the max 20k in taxes or by being able to buy a 400k property.
To think that now the only applicants to avail of the maximum of the scheme, would be very high earners and new builds worth 600k. If the bank would give you a 600k mortgage during these times, you must have 170k annual combined salary.

If you have a 170k annual combined salary, I'm pretty sure if you really want to buy your first property you can do so without government help.
First off - where are you getting 600k? Has the max house price moved from 500k? I can't see that anywhere?

Secondly, a FTB purchasing a house of 600k needs max a 540k mortgage, so 155k combined salary, and LTI exemptions are very common with salaries in 6 figures (more disposal income).
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31-07-2020, 08:56   #3154
dalex15
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First off - where are you getting 600k? Has the max house price moved from 500k? I can't see that anywhere?

Secondly, a FTB purchasing a house of 600k needs max a 540k mortgage, so 155k combined salary, and LTI exemptions are very common with salaries in 6 figures (more disposal income).
Yes, you are correct. Never mind me, it's too early in the day
Probably as I'm buying nowhere near the 500k mark, forgot about it.

They would have to increase the max house price if they want to keep the 5% cap. 500k House with 5% is 25k HTB incentive.
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31-07-2020, 09:12   #3155
thekingof60
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Hello Guys
What's the story with the Bill?..I recognized that the bill has passed through the Dail and seanad 5stages of debate and it's about to be signed into law by the president but my concern is that the section 8 that borders on the Help to Buy increment was opposed both in the Dail and Seanad.

Does this mean that section of the bill won't be included in the actual law and the increment from 5% to 10% is a good as dead?

Anyone with a better understanding of the process should please shed more light on this
I dont think there will be a change from the original bill suggested, there was opposition but I dont think in sufficient numbers. I presume will be signed into law today/Monday - if it had failed/been successfully amended there would be reporting on this and also probably some tweets from SF etc.
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31-07-2020, 12:58   #3156
Simplyliving04
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So if you apply now, will you be eligible for the increased amount or will we have to wait until the bill has been signed into law and revenue updates their system. At present, Revenue's application portal still says max of €20k when you enter application details on ROS.ie MyAccount
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31-07-2020, 13:01   #3157
islander35
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So if you apply now, will you be eligible for the increased amount or will we have to wait until the bill has been signed into law and revenue updates their system. At present, Revenue's application portal still says max of €20k when you enter application details on ROS.ie MyAccount
Have to wait until Revenue updates their system.
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01-08-2020, 10:27   #3158
thekingof60
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Have to wait until Revenue updates their system.
Any idea when this is being enacted by the president?
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01-08-2020, 14:24   #3159
8-10
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AskPaul was apparently discussing this scheme on 2fm this morning at 10am. Anyone got a link to where you can re-listen?
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01-08-2020, 15:26   #3160
#014917
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Any idea when this is being enacted by the president?

Just signed in the last hour! https://twitter.com/PresidentIRL/sta...59568574345218



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Originally Posted by 8-10 View Post
AskPaul was apparently discussing this scheme on 2fm this morning at 10am. Anyone got a link to where you can re-listen?

On their site: https://www.rte.ie/radio/radioplayer...#/2fm/21812104
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01-08-2020, 17:34   #3161
Conrad83
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Wonder how long it will take for Revenue to update their systems!
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02-08-2020, 18:35   #3162
Wingman2010
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Wonder how long it will take for Revenue to update their systems!

The site keeps crashing when I try to reapply. Hopefully we can all reapply soon under the new conditions!
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02-08-2020, 22:05   #3163
sweet_trip
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I feel like the people who need the HTB scheme most, are the people who can't afford to buy a new build, or build even with the HTB scheme.

Makes it kind of useless for a lot of people who aren't earning major money.
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02-08-2020, 22:37   #3164
dalex15
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I feel like the people who need the HTB scheme most, are the people who can't afford to buy a new build, or build even with the HTB scheme.

Makes it kind of useless for a lot of people who aren't earning major money.
I don’t earn major money, somehow it helps me buying my first home. What’s your point?
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03-08-2020, 23:10   #3165
Miaconn1234
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Hi there
Can anyone tell me what the wait is from applying for HTB scheme to getting informed as to how much you are allowed to claim? and then verifying a claim.
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