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

Sheeps · 22-09-2020 2:27pm

CuriousKarl wrote: »

Guys, recently got my "your max relief available": amount of just over €27k, this amount we deducted from our 10% deposit when transferring funds to solicitor account etc.
However, when logging in today to inform solicitor of final amount it now has both the "your max relief available" and the "application max relief available", which is a slightly higher amount at approx €150 more.

Do I go off the latter figure? even though we already transferred funds based on the former figure..

Contact revenue and see if it's possible. If the funds have been drawn down it might not be possible, but if not then you may be able to reapply, proceed with a new claim and hand over the access keys etc to the builder.

passremarkable · 22-09-2020 3:18pm

Why does this scheme end? Can I apply in jan of next year

Sheeps · 22-09-2020 3:29pm

passremarkable wrote: »

Why does this scheme end? Can I apply in jan of next year

The help to buy scheme increase is just temporary. Presumably the reason they wanted to keep it temporary is to see if it's possible to accommodate in this years budget given the fact we will be in recession.

The increase from 20k to 30k is in Fianna Fáil's manifest so it could just be the case that they can now say they've delivered that and then cut it back in the budget this October as a measure to avoid running a deficit.

Alternatively it could be renewed in this years budget. The only thing that is certain is that it is due to go back to 20k in 1st January 2021 unless something changes.

GingerLily · 23-09-2020 9:01am

CuriousKarl wrote: »

Guys, recently got my "your max relief available": amount of just over €27k, this amount we deducted from our 10% deposit when transferring funds to solicitor account etc.
However, when logging in today to inform solicitor of final amount it now has both the "your max relief available" and the "application max relief available", which is a slightly higher amount at approx €150 more.

Do I go off the latter figure? even though we already transferred funds based on the former figure..

There are two sets of figures, the max relief for each applicant, and the max relief for the application, the first is based off your personal contributions and the max HTB amount, the latter is based off your applications max amount, taking into account the amount available between applicants and the value of the property.

When you drawdown you will have to decide how much up claim back off each applicant (up to their max amount).

Conrad83 · 23-09-2020 2:38pm

Just wondering does anyone know how to know if the builder has claimed the HTB? Do we get notified through revenue when it has been claimed?

Sheeps · 23-09-2020 2:50pm

Conrad83 wrote: »

Just wondering does anyone know how to know if the builder has claimed the HTB? Do we get notified through revenue when it has been claimed?

Not sure actually. The builder of the house I purchased was due to draw down the help to buy portion of the deposit last week and I haven't received any noticed as of yet.

GingerLily · 23-09-2020 5:15pm

Conrad83 wrote: »

Just wondering does anyone know how to know if the builder has claimed the HTB? Do we get notified through revenue when it has been claimed?

We got an email from revenue that there was a change in the application and when we went in I think there was a notification that they requested funds. We drew down HTB at closing though, not for deposit

awec · 23-09-2020 6:00pm

Conrad83 wrote: »

Just wondering does anyone know how to know if the builder has claimed the HTB? Do we get notified through revenue when it has been claimed?

You don't get notified, but your developer's solicitor won't be long telling you if they have problems getting the money.

board silly · 24-09-2020 4:29pm

hello all.

we were given land from mother-in-law to build on, we've contracted a builder to do the house.

I understood that, for HTB, in our case the purchase value is the build cost as per the quote, and so the ratio is loan value/build cost.

if we were self-building then the purchase value is sell on value as per auctioneer's valuation, and so the ratio is loan value/sell on.

am I mistaken in any of that?

thanks.

fitzparker · 25-09-2020 12:58pm

We bought a new house in 2017, I was never advised on help to buy by estate agent/builder, it was only recently I found out off a few neighbours that they claimed for it and got it.

Is it too late for me to do so?

awec · 25-09-2020 1:03pm

I don't believe you can retrospectively apply, no.

Troula · 25-09-2020 1:16pm

To be honest the way I read the online info you might be able to claim it. As long as it is after 19 July 2016.
Assuming that all the prerequisite apply for you.
I would suggest giving Revenue a call yourself and ask.
They've been very helpful anytime I needed to call and ask something.
In the end you don't have anything to loose.

fitzparker · 25-09-2020 1:35pm

Troula wrote: »

To be honest the way I read the online info you might be able to claim it. As long as it is after 19 July 2016.
Assuming that all the prerequisite apply for you.
I would suggest giving Revenue a call yourself and ask.
They've been very helpful anytime I needed to call and ask something.
In the end you don't have anything to loose.

Thanks, I took it up similar, I tried ringing and they said it has to go through my enquires, I will send a mail and find out. thanks again

fitzparker · 29-09-2020 2:36pm

fitzparker wrote: »

We bought a new house in 2017, I was never advised on help to buy by estate agent/builder, it was only recently I found out off a few neighbours that they claimed for it and got it.

Is it too late for me to do so?

Just to follow up on this, my application was approved, I am now advised

"Your mortgage provider and building contractor will require the access code and your application code to verify the amount of relief available to you (the group)."

So even though I have my mortgage 3 years, I still need to give the code to the bank aswell as contractor, is that right?

I presume then I need to ask the contractor to send me the funds when they get it? might have a job on my hands getting someone to hand that over

Troula · 29-09-2020 6:56pm

fitzparker wrote: »

Just to follow up on this, my application was approved, I am now advised

"Your mortgage provider and building contractor will require the access code and your application code to verify the amount of relief available to you (the group)."

So even though I have my mortgage 3 years, I still need to give the code to the bank aswell as contractor, is that right?

I presume then I need to ask the contractor to send me the funds when they get it? might have a job on my hands getting someone to hand that over

I think this is just the automatic message.
For example my bank has asked me for the application number and the code in order to check that I indeed have the money that I said.
I would assume that you wouldn't have to go through the contractor or the bank.

https://www.revenue.ie/en/property/documents/htb-summary-applicants.pdf
In that link in page 4 at the bottom it has something about retrospective case.
That will probably apply to you.
If when applying didn't choose the retrospective part, then maybe you need to cancel it and re-do it.

sparkle109 · 03-10-2020 1:48pm

Hi, we have paid a booking deposit on a new build and planning on using the HTB as well as some of our own deposit to make up the 10%. House won’t be ready until mid summer next year - when do the developers draw down the HTB portion - is it on signing contracts? If so, and for some reason we have to pull out later next year then what would happen the HTB portion? We are obviously hoping all goes to plan but as we will have to reapply for mortgage we just want to make sure we are totally covered for unforeseen changes.

Sheeps · 03-10-2020 6:24pm

sparkle109 wrote: »

Hi, we have paid a booking deposit on a new build and planning on using the HTB as well as some of our own deposit to make up the 10%. House won’t be ready until mid summer next year - when do the developers draw down the HTB portion - is it on signing contracts? If so, and for some reason we have to pull out later next year then what would happen the HTB portion? We are obviously hoping all goes to plan but as we will have to reapply for mortgage we just want to make sure we are totally covered for unforeseen changes.

It would usually be shortly after signing contracts. Usually your contract will be subject to mortgage approval

Pink11 · 03-10-2020 9:51pm

fitzparker wrote: »

Just to follow up on this, my application was approved, I am now advised

"Your mortgage provider and building contractor will require the access code and your application code to verify the amount of relief available to you (the group)."

So even though I have my mortgage 3 years, I still need to give the code to the bank aswell as contractor, is that right?

I presume then I need to ask the contractor to send me the funds when they get it? might have a job on my hands getting someone to hand that over

I'm sure this is irrelevant to you but be aware you have to live in the property for a minimum for 5 years. I.E if you don't plan to sell in the next 3 years you're fine. Great that they back dated for you, well deserved - everyone else got it, why shouldn't you!?

bulmersgal · 04-10-2020 8:27pm

Not sure if it's been asked. I am hoping to buy a house with htb scheme but will won't get enough mortgage so would need to put bigger deposit down. If my house was not ready to be completed till 2021 can I pay the 10% deposit myself and then claim the htb in 2021 for the remainder. The reason being is I was earning less in 2016/2017 and have paid 9k in paye tax this year alone so would prefer that year to be included as my htb currently is only 14k.

fitzparker · 04-10-2020 8:40pm

Pink11 wrote: »

I'm sure this is irrelevant to you but be aware you have to live in the property for a minimum for 5 years. I.E if you don't plan to sell in the next 3 years you're fine. Great that they back dated for you, well deserved - everyone else got it, why shouldn't you!?

Thanks. Yes its our house for life so we are fine from that end

On Friday all has been approved and I got the codes etc needed. So the tough part now will be asking a construction company to put it through and when they get the money to send it to me!

I have mailed revenue to double check this is the scenario for "retrospective" claims or if it can just be put in my account

If it is I might get my solicitor to mail there's so there is a paper trail

kcv_dcm · 05-10-2020 8:41pm

Guys, can anyone provide a clarity on this point please.

We were approved of enhanced HTB from 20k to 30k in July. We have signed a contract from our end before 23rd July. But our developer has not yet signed the contract (as we did not send the contracts to them until now). But our developer will sign the contracts this week. Will this be a problem when we claim the enhanced HTB since our signed date on the contract is pre-July but the developer's signed date on the contract is post-July.

Thanks.

busylady · 05-10-2020 9:11pm

kcv_dcm wrote: »

Guys, can anyone provide a clarity on this point please.

We were approved of enhanced HTB from 20k to 30k in July. We have signed a contract from our end before 23rd July. But our developer has not yet signed the contract (as we did not send the contracts to them until now). But our developer will sign the contracts this week. Will this be a problem when we claim the enhanced HTB since our signed date on the contract is pre-July but the developer's signed date on the contract is post-July.

Thanks.

The contracts will be dated once the developer has signed them - ie only dated when both parties have signed. So you should be fine for the enhanced amount

kcv_dcm · 05-10-2020 9:25pm

busylady wrote: »

The contracts will be dated once the developer has signed them - ie only dated when both parties have signed. So you should be fine for the enhanced amount

Thank you, this helps.

rose_2 · 06-10-2020 7:20pm

Hi, just wondering does anyone have a formal letter from revenue confirming the HTB they’ve been approved for? I only seem to have a screen message when I click into ‘my enquiries’ on the myaccount site.

My bank (aib) is looking for one document that shows: name, ppsn, amount approved, expiry date. I’ve sent a couple of different screenshots from the revenue showing the info and my application code so they can verify, but it won’t do.

I’ve sent the request to revenue, but just wondering if anyone here had a similar issue with their bank or if you have a formal letter?

Troula · 06-10-2020 7:43pm

rose_2 wrote: »

Hi, just wondering does anyone have a formal letter from revenue confirming the HTB they’ve been approved for? I only seem to have a screen message when I click into ‘my enquiries’ on the myaccount site.

My bank (aib) is looking for one document that shows: name, ppsn, amount approved, expiry date. I’ve sent a couple of different screenshots from the revenue showing the info and my application code so they can verify, but it won’t do.

I’ve sent the request to revenue, but just wondering if anyone here had a similar issue with their bank or if you have a formal letter?

Heya,

If you click on the HTB button, and then instead of claim or cancel which are the options, in the first line it says:

"You have an approved application for Help to Buy which you can view. You can now proceed to make a claim."

The word "view" is a clickable option.
It will gets to your application where is has all the info the bank is asking for essentially.
You can then click to "print" that page and then save it as a pdf.
That's what I send to my bank (albeit not AIB), but didn't have any problem

rose_2 · 06-10-2020 9:24pm

Troula wrote: »

Heya,

If you click on the HTB button, and then instead of claim or cancel which are the options, in the first line it says:

"You have an approved application for Help to Buy which you can view. You can now proceed to make a claim."

The word "view" is a clickable option.
It will gets to your application where is has all the info the bank is asking for essentially.
You can then click to "print" that page and then save it as a pdf.
That's what I send to my bank (albeit not AIB), but didn't have any problem

Thank you! It doesn’t show my ppsn in that view unfortunately, but it does have everything else. I’ll ring them tomorrow and see will it do, cheers

laoise6 · 06-10-2020 9:28pm

Hi,

Does anyone know when is the earliest date I can apply for this scheme to include 2020?

Also, how long does it take (roughly) to get approval, and at what point in this process can you sign contracts?

Thanks.

Troula · 07-10-2020 11:28am

rose_2 wrote: »

Thank you! It doesn’t show my ppsn in that view unfortunately, but it does have everything else. I’ll ring them tomorrow and see will it do, cheers

Are you sure?
It's not on the list at the bottom.
The ppsn number shows in brackets next to your name.
At least on our application.
Worth a double check just in case.

Troula · 07-10-2020 11:33am

laoise6 wrote: »

Hi,

Does anyone know when is the earliest date I can apply for this scheme to include 2020?

Also, how long does it take (roughly) to get approval, and at what point in this process can you sign contracts?

Thanks.

I'm pretty sure to include 2020 you will have to wait until 2021.
Which means unless they extend it for 2021 the htb will drop back to 5% and 20.000 maximum.

As long as you don't have anything outstanding on your taxes approval takes about 1 day. They are quite fast.

If you want to avail of the 2020 taxes then you probably have to sign the contracts as well in 2021. But I'm not 100% sure on that

Markitron · 07-10-2020 11:42am

Troula wrote: »

I'm pretty sure to include 2020 you will have to wait until 2021.
Which means unless they extend it for 2021 the htb will drop back to 5% and 20.000 maximum.

Have they said anything about this recently?

laoise6 · 07-10-2020 12:02pm

Markitron wrote: »

Have they said anything about this recently?

I guess they should announce it this month in the budget for next year, so at least then everyone should know whether to apply in December or January depending on which will help them more..

I’m just concerned as the developer is pressuring me to sign in December, but if I can include 2020 tax I’ll be 8k better off (hopefully) - but if HTB do extend the enhanced amount I was worried as to long it would take to be approved as if I make the developer wait until January before I sign , they’ll probably be really annoyed if it takes 5 weeks to come through.. I don’t know what the rush is, as the house won’t be completed until March..?

bulmersgal · 07-10-2020 2:03pm

laoise6 wrote: »

I guess they should announce it this month in the budget for next year, so at least then everyone should know whether to apply in December or January depending on which will help them more..

I’m just concerned as the developer is pressuring me to sign in December, but if I can include 2020 tax I’ll be 8k better off (hopefully) - but if HTB do extend the enhanced amount I was worried as to long it would take to be approved as if I make the developer wait until January before I sign , they’ll probably be really annoyed if it takes 5 weeks to come through.. I don’t know what the rush is, as the house won’t be completed until March..?

I'm the same as you. Going to view showhouse this weekend and put deposit down but prefer to sign in Jan as will get extra 8-10k. I wonder if you explained it to them would they care. I can give them the 10% deposit as I won't get enough htb for full 10%

laoise6 · 07-10-2020 2:45pm

bulmersgal wrote: »

I'm the same as you. Going to view showhouse this weekend and put deposit down but prefer to sign in Jan as will get extra 8-10k. I wonder if you explained it to them would they care. I can give them the 10% deposit as I won't get enough htb for full 10%

I totally get it.. Maybe you could could opt to get the HTB at drawdown if they extend the enhanced amount.. that way you’ll get the extra money regardless of when you sign..

For me I only have 5%, so I have to use the scheme for the deposit.. I did explain it to them i’d be better off waiting until Jan, and they said it was fine, just haven’t had anything in writing to confirm this, despite requesting it..

Im wondering if developers are starting to worry about the effect of Brexit on things? Or maybe they need it specifically in the 2020 tax year ?

sparkle109 · 07-10-2020 3:26pm

Any word on HTB extension?

Brasso · 07-10-2020 4:26pm

sparkle109 wrote: »

Any word on HTB extension?

Expected to continue at the enhanced €30k rate until the end of 2021.
https://www.google.com/amp/s/www.irishexaminer.com/news/arid-40060622.html%3ftype=amp

bulmersgal · 07-10-2020 6:43pm

laoise6 wrote: »

I totally get it.. Maybe you could could opt to get the HTB at drawdown if they extend the enhanced amount.. that way you’ll get the extra money regardless of when you sign..

For me I only have 5%, so I have to use the scheme for the deposit.. I did explain it to them i’d be better off waiting until Jan, and they said it was fine, just haven’t had anything in writing to confirm this, despite requesting it..

Im wondering if developers are starting to worry about the effect of Brexit on things? Or maybe they need it specifically in the 2020 tax year ?

Yeah depending on if i get an exception i won't need to pay down too much of my own money as the htb will pay 7% of mortgage so just a matter of how much extra i have to pay. I'm hoping it all works out timing wise.

I think they probably don't mind as much if you have signed contracts and then they have to wait till 2021 to sign the second part. I say it could all come down to cashflow and the bank maybe wanting x amount of houses sale agreed. Who know i'm only speculating.

Renjit · 14-10-2020 1:16pm

I reapplied HTB scheme and the text still shows 5%. Is it ok?

More information
A record of this has been sent to your myEnquiries/ROS Enquiry Record. In order for your qualifying contractor or your mortgage provider to verify the maximum relief available, you will need to provide them with both your Application code (provided above) and your Help to Buy access number (provided in your MyEnquiries/ROS record).

Your actual relief will be no greater than 5% of the purchase value of the qualifying residence (or 10% if you sign contracts or draw down the first tranche of a qualifying loan in respect of a self-build, between 23/07/2020 and 31/12/2020). You should ensure your contractor is a qualifying contractor prior to purchasing your home.

Important note: On the 23/07/2020, the government increased the maximum limit of Help to Buy relief to €30,000 subject to certain conditions being satisfied. In order to avail of these increased limits applicants must have signed a contract for the purchase of a new house or made the first draw down of the mortgage in the case of a self-build during the period 23 July 2020 to 31 December 2020. This will be confirmed at Claim stage. If the enhanced measures does not apply the maximum relief available is €20,000.

Bubbaclaus · 14-10-2020 1:33pm

Renjit wrote: »

I reapplied HTB scheme and the text still shows 5%. Is it ok?

What does it day immediately after the part your bolded?

td2008 · 14-10-2020 1:36pm

Anybody have a number to contact revenue for HTB queries?
Cheers

Renjit · 14-10-2020 2:04pm

Bubbaclaus wrote: »

What does it day immediately after the part your bolded?

It does say 10% but for self build.

10% if you sign contracts or draw down the first tranche of a qualifying loan in respect of a self-build, between 23/07/2020 and 31/12/2020

BrosnanL27 · 14-10-2020 2:53pm

Can anybody please advise on this scenario. If we sign contracts for a new build that are dated November 2020 (with the property itself not being ready to move into until March 2021) can we apply for the HTB grant in January 2021? The reason we do not want to apply for it now is that we will be able to make a bigger claim in the new year as we will be able to include 2020 tax. So by signing contract this year we would need to use our own savings to pay the 10% deposit.

laoise6 · 14-10-2020 3:16pm

BrosnanL27 wrote: »

Can anybody please advise on this scenario. If we sign contracts for a new build that are dated November 2020 (with the property itself not being ready to move into until March 2021) can we apply for the HTB grant in January 2021? The reason we do not want to apply for it now is that we will be able to make a bigger claim in the new year as we will be able to include 2020 tax. So by signing contract this year we would need to use our own savings to pay the 10% deposit.

I should think you can as people were able to make backdated claims after purchasing their property. I’d message revenue to be sure so you have something in writing before you sign.

I’m in the same boat but explained the situation to the developer and have asked to sign in January 2021 - they seem ok with this, so far anyway.

Renjit · 14-10-2020 3:23pm

laoise6 wrote: »

I should think you can as people were able to make backdated claims after purchasing their property. I’d message revenue to be sure so you have something in writing before you sign.

I’m in the same boat but explained the situation to the developer and have asked to sign in January 2021 - they seem ok with this, so far anyway.

But what happens when you have signed the contract already?

bulmersgal · 14-10-2020 3:54pm

BrosnanL27 wrote: »

Can anybody please advise on this scenario. If we sign contracts for a new build that are dated November 2020 (with the property itself not being ready to move into until March 2021) can we apply for the HTB grant in January 2021? The reason we do not want to apply for it now is that we will be able to make a bigger claim in the new year as we will be able to include 2020 tax. So by signing contract this year we would need to use our own savings to pay the 10% deposit.

I'm in same boat as you. I've sent enquiry to revenue last week to see what they say. Will update when I get answer. I'm hoping they let me use 2020 tax as it's 8k less I will have to pay

BrosnanL27 · 14-10-2020 4:10pm

Thanks for the replies. Have sent an enquiry to Revenue too. Here's hoping they'll allow it.

BrosnanL27 · 15-10-2020 7:47pm

BrosnanL27 wrote: »

Can anybody please advise on this scenario. If we sign contracts for a new build that are dated November 2020 (with the property itself not being ready to move into until March 2021) can we apply for the HTB grant in January 2021? The reason we do not want to apply for it now is that we will be able to make a bigger claim in the new year as we will be able to include 2020 tax. So by signing contract this year we would need to use our own savings to pay the 10% deposit.

Revenue got back to me:

In reply to your query, yes you can make your HTB application in 2021 to enable you to include tax year 2020. However you should note that the claim will need to be verified by your developer and payment is made directly to their bank account

So sounds like it's down to the developer basically.

Milena009 · 16-10-2020 10:02am

Hi guys, not quite sure where to ask so lets see.

I will be applying for HTB next year with himself.

When i ''test'' the application it shows 12k on his account but doesn't show ''group max relief' if it makes sense.

Could it be cause 2018, 2019 i was under ''umbrella company' and registered for income tax rather than PAYE only?

Probably will need to ring up Revenue next year

sandman1212 · 16-10-2020 11:46am

Milena009 wrote: »

Hi guys, not quite sure where to ask so lets see.

I will be applying for HTB next year with himself.

When i ''test'' the application it shows 12k on his account but doesn't show ''group max relief' if it makes sense.

Could it be cause 2018, 2019 i was under ''umbrella company' and registered for income tax rather than PAYE only?

Probably will need to ring up Revenue next year

That shouldn’t be an issue as I was in the same situation as you are. You need to ensure your tax returns are completed and get your tax clearance. There is a bug on the system even if that’s completed, but 10 mins after giving them a call to enquire about the tax clearance, I got the confirmation and the group approval updated.

Hope this helps.

Milena009 · 16-10-2020 2:19pm

BrosnanL27 wrote: »

Revenue got back to me:

In reply to your query, yes you can make your HTB application in 2021 to enable you to include the tax year 2020. However, you should note that the claim will need to be verified by your developer and payment is made directly to their bank account

So sounds like it's down to the developer basically.

Got a variation of that question myself

Given the HTB is due to expire the 10% refund at 12/21, if I find / deposite late next year, do i just need to sign the initial contract to be eligible for htb or does it has to be drawdown [ assuming that would be 2022]

So the question, for HTB does contract signage ''subject to finance'' is ok for HTB or does it require active drawdown?

I am deeply saving right now so just trying to mentally categorize things :P

GingerLily · 16-10-2020 3:37pm

Milena009 wrote: »

Got a variation of that question myself
Given the HTB is due to expire the 10% refund at 12/21, if I find / deposite late next year, do i just need to sign the initial contract to be eligible for htb or does it has to be drawdown [ assuming that would be 2022]

So the question, for HTB does contract signage ''subject to finance'' is ok for HTB or does it require active drawdown?

I am deeply saving right now so just trying to mentally categorize things :P

Some developers take HTB as deposit with your contract, some won't wait for the drawdown process at contract stage and will only take the money at drawdown.
Most will accommodate you and drawdown at contract and use that as part/whole of your deposit and you'll then pay the balance at drawdown.

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

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