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

slayerking

TheUnderfaker wrote: »

I think I'll go ahead and do that. Dying to get this done! Thanks for the info

We were in the same boat waiting on last years p60. FYI, you can submit *up to* 4 years, and for us it turns out 3 years of tax was more than enough to take us over the max. So we ended up cancelling and just re-submitting 2013, 2014 and 2015 and got the confirmation form straight away then. If you look at your form12s you can clearly see your total tax so just add it all up to see how many years you need.

TheUnderfaker

slayerking wrote: »

We were in the same boat waiting on last years p60. FYI, you can submit *up to* 4 years, and for us it turns out 3 years of tax was more than enough to take us over the max. So we ended up cancelling and just re-submitting 2013, 2014 and 2015 and got the confirmation form straight away then. If you look at your form12s you can clearly see your total tax so just add it all up to see how many years you need.

Unfortunately I only returned from abroad in mid 2015, so the 2016 tax year is all I have to claim back on. My partner can claim for 2015 and 2016 so combined we are entitled to roughly 10k back on this. It doesn't hit the full 5%, but it's a nice little bonus all the same!

speranza2

Money just dropped into account today!:) Thank god that process is over. All in all it was straightforward enough and, it may improve for people further down the line in terms of the process as a whole and, a good explanation of how it works. Anyway happy days! What's seldom is wonderful.:D:D Good luck to everybody else dealing with Revenue and in your new homes.

ShogunWarrior

Just checked our bank account after seeing speranza2's post and we got paid the refund too! I imagine they'll get the whole process down to 7-10 days from application to payment, since it really was pretty smooth considering.

CramCycle

Same here

louise1985

ShogunWarrior wrote: »

Just checked our bank account after seeing speranza2's post and we got paid the refund too! I imagine they'll get the whole process down to 7-10 days from application to payment, since it really was pretty smooth considering.

Do you mind me ask the people who got the refunds was it self build or a new buy??
Bank don't seem to know what to do with regard self build paperwork as they said they haven't seen a lot

louise1985

Eireann81 wrote: »

Did you confirm this with revenue? I couldn't get a straight answer from revenue as to whether they use the 'cost to build' or the 'estimated completed valuation' as the basis for the rebate.

Does either of you know how the bank work out the completion cost? We threw out a figure in one of the mortgage meetings but surely they would want a valuation from a professional??

CramCycle

louise1985 wrote: »

Does either of you know how the bank work out the completion cost? We threw out a figure in one of the mortgage meetings but surely they would want a valuation from a professional??

The bank will have a list of people who do the valuations and give them a letter stating that. You have to use their one for at least some banks.

CramCycle

Monfreid wrote: »

It seems that this scheme does not really target self build as most of the self builders will have an LTV < 70% ... 
The scheme takes the valuation of the finished house and not the cost of building it ... unreal ... because of this, I do not qualify for this scheme ... :(:angry:

Your LTV will be alot lower though, meaning you will pay alot less interest to the bank over the time of the mortgage. You could try and get them to give you a LTV that is higher but then you would pay a far higher interest rate and then have to get them to revalue this later.

Might be worth popping into your bank and seeing will they do this but then is it worth it if they are going to charge you far higher interest which may negate the HTB payment over the lifetime of the mortgage.

You could also just simply borrow alot more from the bank to get to the 80%, then pay a huge chunk of it back in as soon as revenue pay up, (presuming your bank allow you too without penalty). Then ask for a reassessment of the LTV ratio. I suppose the scheme though really is not designed to target those people whose build price is that way though, as the presumption is that is your LTV is that low, then it far easier to afford (although not always true).

lunamia

speranza2 wrote: »

Money just dropped into account today!:) Thank god that process is over. All in all it was straightforward enough and, it may improve for people further down the line in terms of the process as a whole and, a good explanation of how it works. Anyway happy days! What's seldom is wonderful.:D:D Good luck to everybody else dealing with Revenue and in your new homes.

La speranza e' l'ultima a morire

congrats!
I had to cancel the application and re-do it from scratch because I didn't include my wife in the process, applying as a single and not as a group.

I did it last week and the number of application was like 14,000ish...
I think they will process my application next year :mad:

tbayers

lunamia wrote: »

speranza2 wrote: »

Money just dropped into account today!:) Thank god that process is over. All in all it was straightforward enough and, it may improve for people further down the line in terms of the process as a whole and, a good explanation of how it works. Anyway happy days! What's seldom is wonderful.:D:D Good luck to everybody else dealing with Revenue and in your new homes.

La speranza e' l'ultima a morire

congrats!
I had to cancel the application and re-do it from scratch because I didn't include my wife in the process, applying as a single and not as a group.

I did it last week and the number of application was like 14,000ish...
I think they will process my application next year :mad:

You sure? I have it in writing that I dont need to go and cancel to add my partner. I could be slightly different scenario though as I will be claiming the 100% tax rebate. Both our names are on the contract and mortgage. Also made a balls in selecting tax years and didn't select enough. So hoping they can add an extra year in without cancelling. Surely it can't be that hard rather than starting again?

OfflerCrocGod

I was told if you are buying as a group you must apply as a group. They put me on hold to check that out. Makes sense, they need to make sure you are all first time buyers.

bittihuduga

if you have paid the deposit in Dec 2016 and signed the contract, are you retrospective buyer?
confused which option to choose

morrga

bittihuduga wrote: »

if you have paid the deposit in Dec 2016 and signed the contract, are you retrospective buyer?
confused which option to choose

Retrospective.

lunamia

tbayers wrote: »

You sure? I have it in writing that I dont need to go and cancel to add my partner. I could be slightly different scenario though as I will be claiming the 100% tax rebate. Both our names are on the contract and mortgage. Also made a balls in selecting tax years and didn't select enough. So hoping they can add an extra year in without cancelling. Surely it can't be that hard rather than starting again?

they need to make sure you are all first time buyers.

already happened to someone here, that the Revenue refused the application and he had to do from scratch, that's why I did it before they would have told me.

I'm in the same situation, I rebate the 100% of taxes only on myself.

bittihuduga

myself/wife submitted the application now for retrospective buyer.
in the my enquiries section, i can see this message - We confirm that your tax affairs are in order and your application for the group with the below members was successful.

i also see access code and application code.
i have not uploaded form 11 or any other house documents yet.

what would be the next step?
uploading copy of contract?

morrga

speranza2 wrote: »

lunamia wrote: »

La speranza e' l'ultima a morire

congrats!
I had to cancel the application and re-do it from scratch because I didn't include my wife in the process, applying as a single and not as a group.

I did it last week and the number of application was like 14,000ish...
I think they will process my application next year :mad:

Finché c'è vita...c'è speranza

Are you sure the first application was 000000001?

davidsr20

GDK_11 wrote: »

Apologies, a bit confusing I know.

Ok we have paid the full 10% of the deposit and signed a week or so before christmas. We have the full mortgage approval but have not drawn down as we won't be completing the purchase for a couple of weeks.

Weee in the same situation. Iv all the paperwork sent in. We signed and paid full deposite in November but not drawing down till the next 3 weeks. Does the money still go direct to me?

ShogunWarrior

You'll get the money directly if either:

• You're buying from a developer and you signed contracts before end of Dec 31st
• You're self-building and you drew down the first tranche of the mortgage before end of Dec 31st

Collyb101

I have a question, help if you can please?:
Q: When adding your tax (for your refund) from the P21 forms, which section/totals do you add? I know this should be simple but the more I look at them the more complicated they are getting.

Blingy

Anyone have the issue where your developer is not on the approved list? What did you do? Thanks.

ifaour

ShogunWarrior wrote: »

You'll get the money directly if either:

• You're buying from a developer and you signed contracts before end of Dec 31st
• You're self-building and you drew down the first tranche of the mortgage before end of Dec 31st

We did sign the contracts before Dec 31st, but we sent them to the developer to sign them and I believe they signed them after that date. Do you think we qualify?

youcancallmeal

Blingy wrote: »

Anyone have the issue where your developer is not on the approved list? What did you do? Thanks.

You need to get them to read this and fill out the HTB1 form. We are trying to get the developer for our build to do this at the moment. Seems like they haven't really done any research on it and don't really understand it. Hopefully they pull the finger out and get it done soon, it really shouldn't make any difference to them because they are still getting the money anyway.

lunamia

morrga wrote: »

speranza2 wrote: »

Are you sure the first application was 000000001?

I think so, yeah,
as my first application I did the 6th Jan was 3000ish
and the one on the 20th Jan was 140000ish


After I called the Revenue they told they would have rejected my first application, because I didn't apply as a group (even if the rebate is 100% on me).

davidsr20

My current status is member succesfully added. After been on the phone all day to revenue. But it still says under that awaiting membership of my wife which we did.
The girl said I should get 2 codes by message and Iv to just send them to her when I do.
Has anyone got these codes and how long did it take to get them etc?
This only updated at 5.30 this eve for me.

When my wife logs into hers she's still getting app under review which I'm past now.

jfh

youcancallmeal wrote: »

You need to get them to read this and fill out the HTB1 form. We are trying to get the developer for our build to do this at the moment. Seems like they haven't really done any research on it and don't really understand it. Hopefully they pull the finger out and get it done soon, it really shouldn't make any difference to them because they are still getting the money anyway.

i'm having the same issue from a small building company, is it only for devlopers? i'm thinking it can't be, surely all builders qualify?
any feedback appreciated

andreip

davidsr20 wrote: »

But it still says under that awaiting membership of my wife which we did.

Same on my side after my wife received temp password, my wife joined as group for same application number, but on both sides application is under review and our names with "Awaiting membership confirmation".

Is any particular button to confirm as part of group membership, or is sufficient
we followed the steps and actually Revenue staff needs to check our application and change the status to next step?

bittihuduga

mine says - application successful.
does this mean stage1 complete?
should i start uploading docs now?

davidsr20

bittihuduga wrote: »

mine says - application successful.
does this mean stage1 complete?
should i start uploading docs now?

How long is it like that?did u get an code

bittihuduga

davidsr20 wrote: »

How long is it like that?did u get an code

yes got the application and access code immediately after both of us submitted out details.