Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

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

Options
1…116117119121122…142

Comments

  • Options
    #3542
    This is it
    Registered Users Posts: 5,490 ✭✭✭This is it


    Great, thank you both.


  • Options
    #3543
    clayfarm1234
    Registered Users Posts: 47 ✭clayfarm1234


    I am in a similar situation...I have purchased a property of 430K, and paid 43K from my own pocket as deposit..My contracts are signed, and I need to upload it now on HTB to claim 30K....Would it be ok that my HTB will be funding my balance amount (my mortgage will be 83%) and not the deposit.?

    This is it wrote: »
    A general mortgage question really, regarding deposit and HTB.

    Say a house valued at 400k, so 40k deposit. I've read that HTB can be used as deposit. Is this true and if so would it be looked on unfavorabley if you had say 30k deposit saved and wanted to use 10k of the HTB for the remaining deposit?

    Or is it a case you could pay the booking fee of say 10k then could add the remaining 20k saved and 30k from HTB and have a 340k mortgage?

    In short, can HTB be used in part, or full, towards the deposit?


  • Options
    #3544
    GingerLily
    Registered Users Posts: 4,767 ✭✭✭GingerLily


    clayfarm1234 wrote: »
    I am in a similar situation...I have purchased a property of 430K, and paid 43K from my own pocket as deposit..My contracts are signed, and I need to upload it now on HTB to claim 30K....Would it be ok that my HTB will be funding my balance amount (my mortgage will be 83%) and not the deposit.?

    HTB doesn't need to be applied to deposit, ours was claimed at drawdown stage, the money goes directly to the developer and when it does the bank will release the mortgage.


  • Options
    #3545
    cat_xx
    Registered Users Posts: 255 ✭✭cat_xx


    jreanor wrote: »
    Is anyone having issues claiming Help To Buy for contracts signed in 2021?

    Our contracts were countersigned by the developer this week. We re-applied for Help To Buy using 2016-2019 only to avoid waiting for 2020. The application in myAccount shows the max relief available as the full €30,000.

    However, when we go through the claim process and enter the contract date as yesterday, the "Tax refund apportionment" step shows the total refund available as only €20,000. If I select a date in 2020 for the contracts, the full €30,000 is shown, but of course I won't submit this as the info is incorrect.

    I think what is happening here is that the site was not updated since it was announced in the budget that the enhanced relief of €30,000 was being extended to December 2021 rather than ending in December 2020.

    Has anyone else experienced this or found a solution?

    Just wondering if you got a response to this? I'm having the same issue, I sent a my enquiries and will give them a call in the morning, their phone lines are only open until 1.30 these days.


  • Options
    #3546
    jreanor
    Registered Users Posts: 101 ✭✭jreanor


    cat_xx wrote: »
    Just wondering if you got a response to this? I'm having the same issue, I sent a my enquiries and will give them a call in the morning, their phone lines are only open until 1.30 these days.

    Unfortunately no reply yet. I've tried calling several Revenue contact numbers but they have all told me that there is no way to reach the Help To Buy team by phone. We seem to be at the mercy of the response time for My Enquiries.

    If you do manage to get any useful information by phone or otherwise, I would appreciate if you could update here. I will do the same.

    This will surely become a very widespread issue once people start claiming HTB with 2020 tax from the 15th onwards.


  • Advertisement
  • Options
    #3547
    jface187
    Registered Users Posts: 461 ✭✭jface187


    Just looking for advice. My girlfriend and I would love to buy a home but like a lot of people are crippled with rent. We were just wondering how does this scheme work? We would be first time buyers. Were struggling to save with the affronted rent, car needed for work and the high cost of living.

    What does this scheme do per se for an average low-income couple? or is there anything that could help us? Thanks, guys.


  • Options
    #3548
    This is it
    Registered Users Posts: 5,490 ✭✭✭This is it


    jface187 wrote: »
    Just looking for advice. My girlfriend and I would love to buy a home but like a lot of people are crippled with rent. We were just wondering how does this scheme work? We would be first time buyers. Were struggling to save with the affronted rent, car needed for work and the high cost of living.

    What does this scheme do per se for an average low-income couple? or is there anything that could help us? Thanks, guys.

    You can use the HTB grant as your deposit, the bank would obviously want to see some regular savings but I would think that if your rent was similar or greater than that of the mortgage you were looking for, this would be taken into account along with regular savings. HTB is 10% to a maximum of 30k grant, whichever is lower. It's definitely a huge help to first time buyers, we just need more new houses to be built since it can't be used on a second hand house.


  • Options
    #3549
    zweton
    Registered Users Posts: 2,683 ✭✭✭zweton


    Annoys me the way all these news schemes are for new builds. Anything out there for the second hand market?


  • Options
    #3550
    This is it
    Registered Users Posts: 5,490 ✭✭✭This is it


    zweton wrote: »
    Annoys me the way all these news schemes are for new builds. Anything out there for the second hand market?

    Rebuilding Ireland is for low to middle income buyers. I think it's max salary €50k and €75k for a couple. It was far better a few years ago but then they raised the interest rates.


  • Options
    #3551
    jreanor
    Registered Users Posts: 101 ✭✭jreanor


    jreanor wrote: »
    Unfortunately no reply yet. I've tried calling several Revenue contact numbers but they have all told me that there is no way to reach the Help To Buy team by phone. We seem to be at the mercy of the response time for My Enquiries.

    If you do manage to get any useful information by phone or otherwise, I would appreciate if you could update here. I will do the same.

    This will surely become a very widespread issue once people start claiming HTB with 2020 tax from the 15th onwards.

    Revenue have responded to my enquiry on this. They have acknowledged that this is a technical issue and they are working on resolving it. They haven't shared any timeline for getting it solved.

    I also asked if it would be acceptable to use 31/12/2020 as the contract date to get around the issue and they said it would not be because that would be an incorrect declaration to Revenue.


  • Advertisement
  • Options
    #3552
    cat_xx
    Registered Users Posts: 255 ✭✭cat_xx


    jreanor wrote: »
    Revenue have responded to my enquiry on this. They have acknowledged that this is a technical issue and they are working on resolving it. They haven't shared any timeline for getting it solved.

    I also asked if it would be acceptable to use 31/12/2020 as the contract date to get around the issue and they said it would not be because that would be an incorrect declaration to Revenue.

    Thanks for letting me know, I rang this morning but had no luck. I am hopeful all will be resolved by the 15th when the statement of liabilities are available for 2020.

    I tried the claim this morning but no update yet, i'll try again tomorrow morning!

    It just seems to be delay after delay first the banks now this, so frustrating!


  • Options
    #3553
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    cat_xx wrote: »
    Thanks for letting me know, I rang this morning but had no luck. I am hopeful all will be resolved by the 15th when the statement of liabilities are available for 2020.

    I tried the claim this morning but no update yet, i'll try again tomorrow morning!

    It just seems to be delay after delay first the banks now this, so frustrating!

    Will the SoL's be available on the 15th? I wasn't sure if it was ready for everyone on the 15th or they will start issuing them on the 15th.


  • Options
    #3554
    cat_xx
    Registered Users Posts: 255 ✭✭cat_xx


    Markitron wrote: »
    Will the SoL's be available on the 15th? I wasn't sure if it was ready for everyone on the 15th or they will start issuing them on the 15th.

    When I submitted my return I think it said it would be available on the 15th, will have to wait and see!


  • Options
    #3555
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    cat_xx wrote: »
    When I submitted my return I think it said it would be available on the 15th, will have to wait and see!

    Ah ok. When I try to access it on Revenue.ie it definitely says AFTER the 15th.


  • Options
    #3556
    zweton
    Registered Users Posts: 2,683 ✭✭✭zweton


    This is it wrote: »
    Rebuilding Ireland is for low to middle income buyers. I think it's max salary €50k and €75k for a couple. It was far better a few years ago but then they raised the interest rates.

    ah ok we would be over that threshold as a couple


  • Options
    #3557
    jreanor
    Registered Users Posts: 101 ✭✭jreanor


    cat_xx wrote: »
    Thanks for letting me know, I rang this morning but had no luck. I am hopeful all will be resolved by the 15th when the statement of liabilities are available for 2020.

    I tried the claim this morning but no update yet, i'll try again tomorrow morning!

    It just seems to be delay after delay first the banks now this, so frustrating!

    I tried claiming again this evening and it worked for the full amount! Looks like Revenue have fixed the issue 🎉


  • Options
    #3558
    cat_xx
    Registered Users Posts: 255 ✭✭cat_xx


    jreanor wrote: »
    I tried claiming again this evening and it worked for the full amount! Looks like Revenue have fixed the issue 🎉

    Thanks for letting me know, just put my claim through! Wooohoooo


  • Options
    #3559
    jreanor
    Registered Users Posts: 101 ✭✭jreanor


    cat_xx wrote: »
    Thanks for letting me know, just put my claim through! Wooohoooo

    Great to hear it worked for you too! I was worried we might be waiting for quite a while.


  • Options
    #3560
    B Rabbit
    Registered Users Posts: 227 ✭✭B Rabbit


    Thanks for letting us know it's fixed!


  • Options
    #3561
    beefyor1983
    Registered Users Posts: 21 ✭beefyor1983


    cat_xx wrote: »
    When I submitted my return I think it said it would be available on the 15th, will have to wait and see!


    Hi 15th is for preliminary SOL . Not sure if this will allow us to process help to buy. But it will allow you to make any payments if underpayment. The main SOL is not due until 18th it says.
    Does anyone know if we have made an overpayment do we need to claim that back first before help to buy is processed. Or can it go ahead as we will be claiming it back in help to buy anyway.


  • Advertisement
  • Options
    #3562
    sandman1212
    Registered Users Posts: 21 ✭sandman1212


    beefyor1983 wrote: »
    Hi 15th is for preliminary SOL . Not sure if this will allow us to process help to buy. But it will allow you to make any payments if underpayment. The main SOL is not due until 18th it says.
    Does anyone know if we have made an overpayment do we need to claim that back first before help to buy is processed. Or can it go ahead as we will be claiming it back in help to buy anyway.

    When I put in my application, I got a refund from Revenue as it appears I had overpaid. It was done automatically as part of the process - didn't need to do anything extra.


  • Options
    #3563
    beefyor1983
    Registered Users Posts: 21 ✭beefyor1983


    sandman1212 wrote: »
    When I put in my application, I got a refund from Revenue as it appears I had overpaid. It was done automatically as part of the process - didn't need to do anything extra.

    Aw brilliant so i won't have to wait until claim back isdone for help to buy to process .. thanks for your help


  • Options
    #3564
    beefyor1983
    Registered Users Posts: 21 ✭beefyor1983


    Is anyone else getting your statement of liability will be able to view AFTER the 15th so I'm guessing tomorrow?


  • Options
    #3565
    Busi_Girl08
    Registered Users Posts: 17,942 ✭✭✭✭Busi_Girl08


    beefyor1983 wrote: »
    Is anyone else getting your statement of liability will be able to view AFTER the 15th so I'm guessing tomorrow?

    Yeah same, I wasn't sure if I did something wrong by putting through my tax return before the preliminary SOL (I'm waiting to see how much I owe on the WSS).

    I'm hoping later today or Monday. Maybe they do it in batches?


  • Options
    #3566
    Covid21
    Registered Users Posts: 12 ✭Covid21


    Hi,

    First time posting here so any help would be greatly appreciated.

    We are doing a self build at the minute, we are using our site as a deposit for the mortgage.
    We are borrowing 320k from the bank, total cost of the building is 320k.
    The bank have valued the finished property (when it’s completed) at 510k

    I was just wondering would we qualify for HTB?


  • Options
    #3567
    beefyor1983
    Registered Users Posts: 21 ✭beefyor1983


    Busi_Girl08 wrote: »
    Yeah same, I wasn't sure if I did something wrong by putting through my tax return before the preliminary SOL (I'm waiting to see how much I owe on the WSS).

    I'm hoping later today or Monday. Maybe they do it in batches?
    Hi looks like everyone got preliminary SOL apart from those who did income tax return before it.
    Just hope we are first in que for real SOL.
    A POINT STATING PLEASE DO NOT SUBMIT INCOME TAX RETURN UNTIL YOU HAVE RECEIVED PRELIMINARY SOL would have been a good idea


  • Options
    #3568
    Pete123456
    Registered Users Posts: 963 ✭✭✭Pete123456


    beefyor1983 wrote: »
    Hi looks like everyone got preliminary SOL apart from those who did income tax return before it.
    Just hope we are first in que for real SOL.
    A POINT STATING PLEASE DO NOT SUBMIT INCOME TAX RETURN UNTIL YOU HAVE RECEIVED PRELIMINARY SOL would have been a good idea

    It’s a fair point, but don’t you have to submit a return anyway to be able to claim HTB?


  • Options
    #3569
    beefyor1983
    Registered Users Posts: 21 ✭beefyor1983


    Pete123456 wrote: »
    It’s a fair point, but don’t you have to submit a return anyway to be able to claim HTB?
    You need SOL complete for that year . And you need return done to get SOL i think. Will HTB work on preliminary SOL?


  • Options
    #3570
    beefyor1983
    Registered Users Posts: 21 ✭beefyor1983


    Pete123456 wrote: »
    It’s a fair point, but don’t you have to submit a return anyway to be able to claim HTB?
    Yes true but I'm bit worried will they need to process preliminary now then process a payment i might need to make then do final SOL. So by trying to get ahead and speed up process have in fact delayed it lol


  • Advertisement
  • Options
    #3571
    Busi_Girl08
    Registered Users Posts: 17,942 ✭✭✭✭Busi_Girl08


    beefyor1983 wrote: »
    Hi looks like everyone got preliminary SOL apart from those who did income tax return before it.
    Just hope we are first in que for real SOL.
    A POINT STATING PLEASE DO NOT SUBMIT INCOME TAX RETURN UNTIL YOU HAVE RECEIVED PRELIMINARY SOL would have been a good idea

    According to the revenue site SOLs will be available the 18th (Monday) so hopefully we won't be waiting much longer :)


Advertisement