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

Prismatic

davidsr20 wrote: »

So there changing the rules again? What number did u ring?
How do u mean as u own the house?

Called the overseas number. I mean transaction completed in December, keys handed over, stamp duty paid and property details on Local Property Tax section of Revenue website. Really should be no need for any bank/builder verification as Revenue have all the details they need (according to person on the phone). H2B Helpdesk will know for sure so will update when it is confirmed by them.

davidsr20

Prismatic wrote: »

Called the overseas number. I mean transaction completed in December, keys handed over, stamp duty paid and property details on Local Property Tax section of Revenue website. Really should be no need for any bank/builder verification as Revenue have all the details they need (according to person on the phone). H2B Helpdesk will know for sure so will update when it is confirmed by them.

I never knew stamp duty came into it

Prismatic

davidsr20 wrote: »

I never knew stamp duty came into it

Well amount of stamp duty paid confirms it is a new build (1% of property price ex 13.5% vat). I gave them mortgage and contract details. What else would they really need?

davidsr20

So if ur builder doesn't register u don't get the money but yet u have all ur affairs in order. I think that's so wrong in many ways. It's basically giving the builder the say in wheather u get the refund or not.and if they don't register ur down at least 10k and nothing u can do about it 😡

athtrasna

davidsr20 wrote: »

So if ur builder doesn't register u don't get the money but yet u have all ur affairs in order. I think that's so wrong in many ways. It's basically giving the builder the say in wheather u get the refund or not.and if they don't register ur down at least 10k and nothing u can do about it 😡

Please don't use textspeak on this forum. Thanks

Mod

morrga

davidsr20 wrote: »

So if ur builder doesn't register u don't get the money but yet u have all ur affairs in order. I think that's so wrong in many ways. It's basically giving the builder the say in wheather u get the refund or not.and if they don't register ur down at least 10k and nothing u can do about it 😡

The builder will end up losing out in tens of hundreds of sales so doubt they will not register. Either that or you are dealing with a crook builder who doesn't have his tax affairs in order.

louise1985

Hi,
Has anyone who got the update that there refund will be issued in 5 days actually get the refund yet and could they tell me how long it actually took to hit the bank? Thanks

CramCycle

louise1985 wrote: »

Hi,
Has anyone who got the update that there refund will be issued in 5 days actually get the refund yet and could they tell me how long it actually took to hit the bank? Thanks

Less than 10. It was 5 working days, so I think it will typically be between 7 and 10 actual days. Ours was in a week later to the day.

metricspaces

morrga wrote: »

The builder will end up losing out in tens of hundreds of sales so doubt they will not register. Either that or you are dealing with a crook builder who doesn't have his tax affairs in order.

If the builder has already sold the houses, why would they bother register?

* It is more hassle for the builder
* It will take the builder longer to get the money for the house as they have to wait on Revenue to pay them

In this scenario, where a builder does not sign up, a buyer who qualifies for the 5% will lose it.

This is going on information from Revenue, assuming it is a 100% strict criteria that a builder must sign up.

I agree with previous poster. The system is unfair on the buyer. They are at the mercy of the builder to get tax rebate that they are entitled to.

metricspaces

morrga wrote: »

The builder will end up losing out in tens of hundreds of sales so doubt they will not register.

In a market where there is a housing shortage, people queuing up overnight to buy houses, this scenario of a builder losing "tens of hundreds of sales" is probably very unlikely.

Really what the Gov should have done is either (A) legally force builder to take part (B) remove the requirement for a builder to take part. The current approach is unfair on the buyer.

Why Revenue need the builder to take part is not really clear. Surely they can get enough information from other sources to verify a claim is genuine - stamp duty paid, land registry, banks etc.

pilly

metricspaces wrote: »

In a market where there is a housing shortage, people queuing up overnight to buy houses, this scenario of a builder losing "tens of hundreds of sales" is probably very unlikely.

Really what the Gov should have done is either (A) legally force builder to take part (B) remove the requirement for a builder to take part. The current approach is unfair on the buyer.

Why Revenue need the builder to take part is not really clear. Surely they can get enough information from other sources to verify a claim is genuine - stamp duty paid, land registry, banks etc.

Because the whole scheme was contrived to put money into builders pockets but at the same time make sure that they are tax compliant.

A lot of builders won't register because they haven't got tax clearance and this may not be because they're doing anything illegal but simply because they're behind with their taxes.

Prismatic

Prismatic wrote: »

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.

Well it now turns out that I do need builder verification after all! And so do any retrospective applicants since Jan 28th when everything went fully automated. The first two people I spoke to in Revenue clearly did not have a clue about the scheme. They really should have a dedicated helpline for this as there seems to be huge confusion amongst their staff.

CramCycle

Prismatic wrote: »

Well it now turns out that I do need builder verification after all! And so do any retrospective applicants since Jan 28th when everything went fully automated. The first two people I spoke to in Revenue clearly did not have a clue about the scheme. They really should have a dedicated helpline for this as there seems to be huge confusion amongst their staff.

Well that is stupid. All of the info they need is already there. The LPT registration will cover all the info they need.

Prismatic

CramCycle wrote: »

Well that is stupid. All of the info they need is already there. The LPT registration will cover all the info they need.

I know, I asked why and was told "they" do not have access to the applications anymore now that it is automated so only the builder can verify the info is correct!

I did not believe them until I asked can they check a detail of my application as I think I made a mistake (input bank deposit instead of builder deposit). Was told that it would be a breach of privacy regulations if they looked at it. Had to cancel and reapply!

q85dw7osi4lebg

Have read above but unsure as to the answer to my query.

We are sale agreed on a new build since last summer.

The house will be ready between June and August of this year.

We received AIP last year without the HTB input. We have just gone to get AIP with the HTB and that has been approved.

We have now submitted all documents for the loan offer and they have come back to say all that is outstanding is confirmation from revenue that we are entitled to the full rebate etc.

However my understanding is that to get this confirmation we must make the claim with revenue by uploading the contracts, but to upload the signed contracts we first need the loan offer. We have been approved by revenue but there is no official document on our revenue accounts other than the acknowledgement that we are entitled etc.

Am I missing something here? Any input appreciated!

morrga

Cayden Red Sender wrote: »

Have read above but unsure as to the answer to my query.

We are sale agreed on a new build since last summer.

The house will be ready between June and August of this year.

We received AIP last year without the HTB input. We have just gone to get AIP with the HTB and that has been approved.

We have now submitted all documents for the loan offer and they have come back to say all that is outstanding is confirmation from revenue that we are entitled to the full rebate etc.

However my understanding is that to get this confirmation we must make the claim with revenue by uploading the contracts, but to upload the signed contracts we first need the loan offer. We have been approved by revenue but there is no official document on our revenue accounts other than the acknowledgement that we are entitled etc.

Am I missing something here? Any input appreciated!

We had a similar issue so what we did was draft a signed gift letter from our parents for a similar amount. We knew it and the bank knew it was a token letter and it was in place of the revenue grant but it was paper work that was sufficient to tick the box and meet their deposit criteria.

davidsr20

morrga wrote: »

The builder will end up losing out in tens of hundreds of sales so doubt they will not register. Either that or you are dealing with a crook builder who doesn't have his tax affairs in order.

Our builder told us there was no problem that's he needed to register anyway for future houses,he said he had all his stuff submitted but that's 2 weeks ago now and I still don't see him on the list. I'm just starting to worry now or maybe I'm just thinking the worst.

tbayers

davidsr20 wrote: »

morrga wrote: »

The builder will end up losing out in tens of hundreds of sales so doubt they will not register. Either that or you are dealing with a crook builder who doesn't have his tax affairs in order.

Our builder told us there was no problem that's he needed to register anyway for future houses,he said he had all his stuff submitted but that's 2 weeks ago now and I still don't see him on the list. I'm just starting to worry now or maybe I'm just thinking the worst.

It takes a while I believe, our builder said the process was very slow and I believe their forms were in the system for a few weeks before there name appeared on the register list.

metricspaces

tbayers wrote: »

It takes a while I believe, our builder said the process was very slow and I believe their forms were in the system for a few weeks before there name appeared on the register list.

If it's going to take the builder longer to get the money, it makes sense for them not to sign up for this. In a rising market, with demand far outweighing supply there'll be plenty of buyers who will pay for the house without HTB.

morrga

Revenue issued refund notice on Wednesday and cash hit the account this morning.

39Quinnie

Hi All. Submitted my application to revenue on Thursday 16th of Feb for Help to Buy. Application is still pending. All my taxes were up to date before this and P21s submitted. How long should this stage of the process take?

lunamia

39Quinnie wrote: »

Hi All. Submitted my application to revenue on Thursday 16th of Feb for Help to Buy. Application is still pending. All my taxes were up to date before this and P21s submitted. How long should this stage of the process take?

Push it with your builder (even if retrospective purchaser), as long as the builder approves the details, it takes few days to the REvenue to issue the money.

Bradford82

Hi guys,

Read on here that people have been delayed at the application stage due to applications being under review but ours has now been under review for a whole month and despite ringing revenue about ten times no one can tell me when this is gonna be sorted or will put me onto the HTB department in fingal directly. Any suggestions? Anyone else's take this long? Our house will be finished next week so at this rate we'll have to take a larger mortgage than planned as the HTB refund that was going towards a bigger deposit won't be thro.

siobhan1983

Cayden Red Sender wrote: »

Have read above but unsure as to the answer to my query.

We are sale agreed on a new build since last summer.

The house will be ready between June and August of this year.

We received AIP last year without the HTB input. We have just gone to get AIP with the HTB and that has been approved.

We have now submitted all documents for the loan offer and they have come back to say all that is outstanding is confirmation from revenue that we are entitled to the full rebate etc.

However my understanding is that to get this confirmation we must make the claim with revenue by uploading the contracts, but to upload the signed contracts we first need the loan offer. We have been approved by revenue but there is no official document on our revenue accounts other than the acknowledgement that we are entitled etc.

Am I missing something here? Any input appreciated!

What date did you sign your contract?

judy80

Bradford82 wrote: »

Hi guys,

Read on here that people have been delayed at the application stage due to applications being under review but ours has now been under review for a whole month and despite ringing revenue about ten times no one can tell me when this is gonna be sorted or will put me onto the HTB department in fingal directly. Any suggestions? Anyone else's take this long? Our house will be finished next week so at this rate we'll have to take a larger mortgage than planned as the HTB refund that was going towards a bigger deposit won't be thro.

We are in the same situation.
Very annoying.
We also called them several times but nothing happened.

q85dw7osi4lebg

siobhan1983 wrote: »

What date did you sign your contract?

We are holding off until we have the loan offer, turns out it was actually a bank slip up and they did not realise we had already given them the access code.

Sponsorgate

Haven't read through the whole thread & sorry if this already mentioned but do you qualify for this if you get a gift of your site from your parents? If not , is there a work around to say you "bought " the site from your parents?

Any info appreciated

SponsorGate

PedroDublin

Sponsorgate wrote: »

Haven't read through the whole thread & sorry if this already mentioned but do you qualify for this if you get a gift of your site from your parents? If not , is there a work around to say you "bought " the site from your parents?

Any info appreciated

SponsorGate

Conditions are:
Being a first time BUYER
Buying a new HOUSE/APARTMENT
Getting a MORTGAGE of at least 70% of the value of the house

What makes you think you may qualify?

Sponsorgate

PedroDublin wrote: »

Conditions are:
Being a first time BUYER
Buying a new HOUSE/APARTMENT
Getting a MORTGAGE of at least 70% of the value of the house

What makes you think you may qualify?

Thanks for taking time to reply PedroDublin. i should have mentioned this initially. I am a first time buyer, i have got planning permission on the site. Going to use the house as a my primary residence & will be applying for mortgage shortly & will be at least 70% LTV. That all thats needed??

athtrasna

PedroDublin wrote: »

Conditions are:
Being a first time BUYER
Buying a new HOUSE/APARTMENT
Getting a MORTGAGE of at least 70% of the value of the house

What makes you think you may qualify?

Self build is INCLUDED