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

Bawnboylad wrote: »

Can anyone tell me when calculating the new-build house price, should VAT be included or not? Eg. If the house is advertised by Developer at 400k, is this the house price used to determine the relief available or should it be 346k (i.e. minus VAT at 13.5%)

the 400k, but either will give you a relief of 30k anyway

My new application still states "Awaiting membership confirmation". We've both confirmed so that's not the issue. Anyone else still got this issue? I've sent the end enquiry a few days ago but still no word back. Painful!

Basic Question, probably asked before.

Is the HTB limit of €500k including Vat or Excluding Vat? VAT brings what we're looking at over €500k so I'm guessing it doesnt qualify, just want to double check as the EA doesnt seem sure.

Say you are entitled for a max HTB of 30k. House price is 300k. You already paid a booking deposit of 5k.

Then when claiming HTB in revenue site, you are asked to enter these values: "Deposit payable" (10% house, 30k in this example), and "Deposit paid" (5k in this example).

Would revenue say: "you only need 25k now, so I'm gonna give only that and not the full 30k"? Or they don't care and give the full 30k (so you get the 5k refunded). If so, why they ask these two values about deposit?

Miaconn1234 wrote: »

I presumed if you are entitled to 30k you get 30k regardless of booking deposits....

Exactly. So you either agree with builder to refund deposit once they get the HTB drawn down or you continue to include it meaning you can get an extra 5k off the mortgage. It doesn't disappear because you've already paid some (assuming you haven't signed anything since the updated HTB)

....is how I understand it

cant26 wrote: »

Hi is there a direct contact number for the HTB? Can’t seem to find one and our application is still saying awaiting confirmation but then my husband received a my enquiry saying we are at review stage.
It seems like a technical issue but the bank is wanting confirmation of how much we are approved for and an access code. Really hope this can through quick enough but have a feeling this could really delay us

Same as you.
Going on third week with 'pending application' and 'under review'/..... and have sent enquiries over a week ago and received no response.
Ready to sign contracts here, but very hesitant to do so when I've no written confirmation of approval from HTB.... I hope this week some progress is made....

Duke of Url wrote: »

You should call them.

I had this issue only to find I had to confirm I was tax compliant. Approved the same day.

I've been onto PAYE four times last week to no avail.... basically told nothing they can do, just send in enquiry....

Is that who you've been onto?

Was onto Paye again yesterday, and asked her to email directly as I was getting nowhere and zero responses. Approved by end of day. WOO! Not full amount but didnt expect that. She said they had over 8000 applications since 23rd July. Was over 3 weeks I was waiting with nothing so only way was to ask her to email.

extrafluff wrote: »

We applied for this on the off chance that we'd be able to afford a new build in a few months.

We've just got our approval. Slightly over €10k in total. We went travelling for 6 months in 2017 so it's likely it was reduced because of that but it's disappointing it's only that much.

We may not use it but it seems like we're being 'punished' (probably too strong a word). Haven't been able to use any PRSI since we came back In Jan 2018 and now this.

10k seems a little low for 2 people over the course of 3.5 years, were you both working the entire time aside from that 6 months?

If you are self building and you don’t actually draw down the full amount of the mortgage that was approved under the help to buy application (at the start of the build) do you need to inform revenue?

calmness wrote: »

Hi, I have a quick query. My HTB application got approved with the below message in the Enquiries section:

Your Help To Buy application has been approved.
Maximum relief available to you: €30,000.00

Does this mean I'm eligible for 30k or do I need to go back to my tax statements and check how much I paid?

TIA.

Lucky you. You are entitled to the full amounts.

unhappys10 wrote: »

Could have been asked already but can anyone tell me if I apply for help to buy now at the 10% rate when does it expire?

As in could I apply and be approved before 31 December but not get mortgage and start building until into the new year?

Wonder about the chances of the 10% being extended.

Every application expires at the end of the year i.e Dec 31st. If you are not starting the build this year, you might as well wait till January before applying.

I've been spending my time looking at second hand houses up to now and ignoring the new build market so sorry if this has already been answered but can someone just clarify/confirm the following?

If I was to agree a purchase before 31st Dec 2020 and pay a booking deposit does that mean I can still avail of the scheme at the 30k mark even if the build wouldn't be completed until mid 2021? What happens here if the sale falls through for whatever reason (maybe the bank decides not to give me the mortgage in 2021) and the contracts etc have a subject to mortgage approval clause? I get that in such an instance my deposit should be returned to me and the government get their bit back or does having government money in the mix via the scheme could cause all sorts of complications.

I've seen a good few references to this scheme being for people who'd be unable to get any more than 20% of the purchase price of a house together but then on https://www.citizensinformation.ie/en/housing/owning_a_home/help_with_buying_a_home/help_to_buy_incentive.html its saying you'd only need for at least 70% of the purchase price to be mortgaged. Has the scheme changed or is the Citizens Information site wrong? So for example if I was looking at a new build for 350k and I was only mortgage approved for 245k (70% of 350k) would I be able to proceed using this scheme on the basis of 30k from the scheme and the remaining 75k in cash? Or am I missing something here?

Thanks!