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

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    #932
    tbayers
    Registered Users Posts: 501 ✭✭✭tbayers


    TheUnderfaker wrote: »
    I'm a retrospective buyer but my solicitor hasn't received the contract back from the builder yet. I'm stuck at the part where I'm supposed to upload the contract to MyEnquiries. Should I just send on my claim codes to my builder, or did ye have the contracts before you contacted them?
    You need the contracts as part of the application stage. The only reason you need them is to verify that you signed the contracts post 19th of July and pre 31st of January if you are retrospective. Maybe ring the builders to make sure they put the date you signed on the contract? You won't get a claim code without submitting your contract so I think you are a bit confused there?


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    #933
    TheUnderfaker
    Registered Users Posts: 275 ✭✭TheUnderfaker


    tbayers wrote: »
    You need the contracts as part of the application stage. The only reason you need them is to verify that you signed the contracts post 19th of July and pre 31st of January if you are retrospective. Maybe ring the builders to make sure they put the date you signed on the contract? You won't get a claim code without submitting your contract so I think you are a bit confused there?

    Sorry you're right there. It's an access code that I've got. I'll get onto the developer today. Cheers


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    #934
    morrga
    Registered Users Posts: 553 ✭✭✭morrga


    Builder verified our claim this morning. Revenue confirmed at midday refund will be issued within next 5 days.
    Simply put we saw the process as:
    Complete form 12 and request balancing statements.
    Upload contracts, loan offer etc
    Revenue review and approve claim
    Pass codes to builder and wait for them verify your claim.
    Once builder completes their side, Revenue issue refund notice.


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    #935
    morrga
    Registered Users Posts: 553 ✭✭✭morrga


    stamjoe wrote: »
    I sent my numbers to the builder so they can continue to with verifying the claim, do I also need to send these to the bank?

    We did as a precaution but I think builders only will suffice.


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    #936
    sibersha
    Registered Users Posts: 314 ✭✭sibersha


    morrga wrote: »
    Builder verified our claim this morning. Revenue confirmed at midday refund will be issued within next 5 days.
    Simply put we saw the process as:
    Complete form 12 and request balancing statements.
    Upload contracts, loan offer etc
    Revenue review and approve claim
    Pass codes to builder and wait for them verify your claim.
    Once builder completes their side, Revenue issue refund notice.

    Hi Morga, was the loan offer itself sufficient as proof of mortgage?


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    #937
    morrga
    Registered Users Posts: 553 ✭✭✭morrga


    sibersha wrote: »
    Hi Morga, was the loan offer itself sufficient as proof of mortgage?

    Yes. We are not drawing down until May at least and I just uploaded Loan Offer letter as it's the only document I have relating to mortgage details.


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    #938
    davidsr20
    Registered Users Posts: 769 ✭✭✭davidsr20


    Guys how long did it take u for ur builder to register. This is all I'm waiting on but he said he sent in his papers over a week ago but heard nothing back yet. Iv all done my end and working on this since early January.


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    #939
    morrga
    Registered Users Posts: 553 ✭✭✭morrga


    davidsr20 wrote: »
    Guys how long did it take u for ur builder to register. This is all I'm waiting on but he said he sent in his papers over a week ago but heard nothing back yet. Iv all done my end and working on this since early January.

    He doesn't send in papers. He registers online.


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    #940
    davidsr20
    Registered Users Posts: 769 ✭✭✭davidsr20


    morrga wrote: »
    He doesn't send in papers. He registers online.

    Yes but has to send in stuff through inquires?


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    #941
    Grassey
    Registered Users Posts: 2,393 ✭✭✭Grassey


    Ours only got registered on Monday. Said they started the process start of Jan.


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    #942
    morrga
    Registered Users Posts: 553 ✭✭✭morrga


    davidsr20 wrote: »
    Yes but has to send in stuff through inquires?

    Correct. All documentation loaded online. Revenue should be reasonable quick registering them once it's loaded.


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    #943
    sasquatch1
    Registered Users Posts: 6 ✭sasquatch1


    Hi guys
    I have a loan offer from my bank with a LTV of 31%. I signed the sale contract last August with completion not until end of 2017. I need to borrow more to avail of the help to buy. Has anyone here had to go back to their bank to borrow more. I'm going to contact my solicitor bank this week but would appreciate any feedback from anyone in the same situation
    Thanks


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    #944
    CramCycle
    Moderators, Sports Moderators Posts: 24,873 Mod ✭✭✭✭CramCycle


    I won't lie, what your describing sounds unlikely to be entertained by the bank. It may even be seen as fraud (drastic version) by revenue. By all means ask but I imagine no will be the answer.


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    #945
    morrga
    Registered Users Posts: 553 ✭✭✭morrga


    CramCycle wrote: »
    I won't lie, what your describing sounds unlikely to be entertained by the bank. It may even be seen as fraud (drastic version) by revenue. By all means ask but I imagine no will be the answer.

    Why is it fraud? If he needs to borrow more as he/she has now decided they need to buy a new car or invest in a business then that is their personal choice. Revenue doesn't govern a restriction on your spending/investment decisions.


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    #946
    Prismatic
    Registered Users Posts: 32 ✭Prismatic


    sasquatch1 wrote: »
    Hi guys
    I have a loan offer from my bank with a LTV of 31%. I signed the sale contract last August with completion not until end of 2017. I need to borrow more to avail of the help to buy. Has anyone here had to go back to their bank to borrow more. I'm going to contact my solicitor bank this week but would appreciate any feedback from anyone in the same situation
    Thanks

    I was in the same situation, bank had no issue lending more. Just ask.


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    #947
    CramCycle
    Moderators, Sports Moderators Posts: 24,873 Mod ✭✭✭✭CramCycle


    morrga wrote: »
    Why is it fraud? If he needs to borrow more as he/she has now decided they need to buy a new car or invest in a business then that is their personal choice. Revenue doesn't govern a restriction on your spending/investment decisions.
    Fraud is probably the wrong word, but if you have already drawn down the mortgage then it fails to meet the criteria.
    NOTE: This said, I did not read the post properly and I didn't realise it was not drawn down, so hands up, completely wrong. I thought the poster had drawn down and was now asking the bank to change the mortgage and send out a letter as if this was the original one.
    Prismatic wrote: »
    I was in the same situation, bank had no issue lending more. Just ask.
    +1, again, my bad on the reading.


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    #948
    Prismatic
    Registered Users Posts: 32 ✭Prismatic


    Prismatic wrote: »
    Ok, thanks for that. Seems silly though as Revenue have all the info they need - my FTB status, mortgage drawdown details and new build stamp duty paid. Not sure why the builder would have to verify an already fully complete transaction.

    Rang Revenue and they said that they do not need anything from my builder as I own the house. Issue with a lot of retrospective applications, so if you are stuck in a "pending" state call them. The Revenue HtoB internal helpdesk need to deal with cases like mine apparently.


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    #949
    McCoy
    Registered Users Posts: 88 ✭✭McCoy


    my partner and I are in the process of purchasing , full mortgage approved from BOI, price agreed, deposit in savings with LTV of 90%. the property was completed in 2009 but never occupied and should qualify -
    my question is this, should we start the application process at this stage prior to any contracts being signed, BOI weren't exactly knowledgeable or helpful on the subject, or can it be retrospectively applied for following completion of purchase. any advice greatly appreciated thanks


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    #950
    sasquatch1
    Registered Users Posts: 6 ✭sasquatch1


    Thanks for the feedback Prismatic Cramcycle. Will contact the bank later. When I got the loan offer back in August which expires 6 months if your do not draw it down. At the time back in Aug 16 I was thinking I would just see which bank was offered the best deal and get a new mortgage from them. House will not be ready until Nov2017. Why tie yourself to a mortgage in 2016 and see what's out there in 2017.


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    #951
    Freddy2017
    Registered Users Posts: 7 ✭Freddy2017


    Hi there,
    We are completing a self build. Not finished til June. We applied as retrospective applicants. Solicitor registered on Mon,verified claim yest and we got a message from revenue saying it has been approved and refund will be issued in approx 5 working days.


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    #952
    tbayers
    Registered Users Posts: 501 ✭✭✭tbayers


    morrga wrote: »
    CramCycle wrote: »
    I won't lie, what your describing sounds unlikely to be entertained by the bank. It may even be seen as fraud (drastic version) by revenue. By all means ask but I imagine no will be the answer.

    Why is it fraud? If he needs to borrow more as he/she has now decided they need to buy a new car or invest in a business then that is their personal choice. Revenue doesn't govern a restriction on your spending/investment decisions.
    Totally agree, nothing wrong with looking for more, it is not illegal.


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    #953
    tbayers
    Registered Users Posts: 501 ✭✭✭tbayers


    McCoy wrote: »
    my partner and I are in the process of purchasing , full mortgage approved from BOI, price agreed, deposit in savings with LTV of 90%. the property was completed in 2009 but never occupied and should qualify -
    my question is this, should we start the application process at this stage prior to any contracts being signed, BOI weren't exactly knowledgeable or helpful on the subject, or can it be retrospectively applied for following completion of purchase. any advice greatly appreciated thanks
    If the contract weren't signed in 2016 you can not claim as a retrospective buyer. If you sign contracts in 2017 I believe the money will go to the bank and not directly to you.


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    #954
    judy80
    Registered Users Posts: 34 ✭judy80


    tbayers wrote: »
    If the contract weren't signed in 2016 you can not claim as a retrospective buyer. If you sign contracts in 2017 I believe the money will go to the bank and not directly to you.

    What if I paid the full 10% myself and signed contract in 2017?
    I dont want the rebate go to the developer as how will he refund it to me?


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    #955
    tbayers
    Registered Users Posts: 501 ✭✭✭tbayers


    judy80 wrote: »
    tbayers wrote: »
    If the contract weren't signed in 2016 you can not claim as a retrospective buyer. If you sign contracts in 2017 I believe the money will go to the bank and not directly to you.

    What if I paid the full 10% myself and signed contract in 2017?
    I dont want the rebate go to the developer as how will he refund it to me?
    Perhaps jumped the gun maybe? As far as im aware and all the information thats online, no money will be paid into peopls account for claims in 2017. Maybe look for a refund of balance of rebate back from developer? Or when you get the mortgage you wont now have to pay the full mortgage over to the developer and keep the balance?


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    #956
    davidsr20
    Registered Users Posts: 769 ✭✭✭davidsr20


    Prismatic wrote: »
    Rang Revenue and they said that they do not need anything from my builder as I own the house. Issue with a lot of retrospective applications, so if you are stuck in a "pending" state call them. The Revenue HtoB internal helpdesk need to deal with cases like mine apparently.
    So there changing the rules again? What number did u ring?
    How do u mean as u own the house?


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    #957
    sibersha
    Registered Users Posts: 314 ✭✭sibersha


    I am also a retrospective buyer, signed contracts in September 2016. Having submitted the application on the 3td of January, I've only just uploaded my documents today. I have uploaded a copy of the contract, the loan offer and the mortgage release letter.

    I now have been given a claim number and told to contact my contractor or solicitor and give them the claim number. However, the contractor is not registered according to the list of registered contractors. Therefore would I be able to contact my solicitor and get them to approve the application if they are registered?

    Seems pointless as I have already supplied proof of mortgage and purchase, and do not see what authority my solicitor should have to verify the claim.


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    #958
    youcancallmeal
    Registered Users Posts: 8,019 ✭✭✭youcancallmeal


    McCoy wrote: »
    my partner and I are in the process of purchasing , full mortgage approved from BOI, price agreed, deposit in savings with LTV of 90%. the property was completed in 2009 but never occupied and should qualify -
    my question is this, should we start the application process at this stage prior to any contracts being signed, BOI weren't exactly knowledgeable or helpful on the subject, or can it be retrospectively applied for following completion of purchase. any advice greatly appreciated thanks

    You should really read up on the process, it'll save you a lot of time and stress. Post 1st Jan if you want to avail of the HTB scheme you actually can't sign contracts until you have applied and been approved. Start applying immediately and tell your builder/vendor to register as well as it can take weeks to sort out and may delay you signing contract.

    The idea is when you are approved and the builder is registered you sign contracts and pay the 10% deposit minus whatever your eligible for under the HTB scheme. Then you move to claim stage and have to upload a copy of the contract signed by both parties to revenue. Builder then confirms and gets money paid to them.

    You could go ahead and sign contracts and then apply retrospectively but anecdotally Revenue won't entertain applications like this unless you signed before 1st Jan 2017.

    EDIT: If this is a bank sale and no builder involved then you'll need to ring Revenue and ask to speak to someone who is an expert on the HTB scheme. There is no mention of this scenario in the online documentation. I'd imagine it'll still work same way as I've outlined above except bank will take the place of builder. You'll probably have a hard time getting them to register as a qualifying contractor though. Let us know how you get on?


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    #959
    abrushka
    Registered Users Posts: 16 ✭abrushka


    judy80 wrote: »
    tbayers wrote: »
    If the contract weren't signed in 2016 you can not claim as a retrospective buyer. If you sign contracts in 2017 I believe the money will go to the bank and not directly to you.

    What if I paid the full 10% myself and signed contract in 2017?
    I dont want the rebate go to the developer as how will he refund it to me?
    I am in the same situation as you. Our solicitor put a clause in our contract that the 5% will be reimbursed to us by the developer once it gets paid out by revenue.


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    #960
    morrga
    Registered Users Posts: 553 ✭✭✭morrga


    sibersha wrote: »
    I am also a retrospective buyer, signed contracts in September 2016. Having submitted the application on the 3td of January, I've only just uploaded my documents today. I have uploaded a copy of the contract, the loan offer and the mortgage release letter.

    I now have been given a claim number and told to contact my contractor or solicitor and give them the claim number. However, the contractor is not registered according to the list of registered contractors. Therefore would I be able to contact my solicitor and get them to approve the application if they are registered?

    Seems pointless as I have already supplied proof of mortgage and purchase, and do not see what authority my solicitor should have to verify the claim.

    Its just a 4 eye verification check as such to make sure your details correspond to a bank or builders take on things. I think your builder should and needs to register. A solicitor might be only required for approval in self builds but would need to re-read the HTB doc on the Revenue site to be sure.


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    #961
    Prismatic
    Registered Users Posts: 32 ✭Prismatic


    morrga wrote: »
    Its just a 4 eye verification check as such to make sure your details correspond to a bank or builders take on things. I think your builder should and needs to register. A solicitor might be only required for approval in self builds but would need to re-read the HTB doc on the Revenue site to be sure.

    I'm not sure, I've been told by Revenue it is not needed, see above. Help To Buy Helpdesk are going to call me back today or tomorrow so will confirm with them as you can't be sure of the advice from the customer service reps it seems.


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