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

awec

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

Troula

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Any word on HTB extension?

Brasso

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

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

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

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

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

Renjit

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