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

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    #1112
    sinella09
    Registered Users Posts: 5 ✭sinella09


    janeybaby wrote: »
    Has anybody successfully had a clause referencing the HTB scheme inserted into their contracts? We are supposed to be signing this week but developers solicitors have refused to include any clause even a loose one that benefits both parties which is highly concerning.
    I have, we had to have new contracts issued to include HTB


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    #1113
    sinella09
    Registered Users Posts: 5 ✭sinella09


    I got a mail confirming my HTB claim has been approved and funds will be transferred to developer in 5 working days, does anyone know will I receive notification once the funds have been transferred?


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    #1114
    janeybaby
    Registered Users Posts: 91 ✭✭janeybaby


    sinella09 wrote: »
    I have, we had to have new contracts issued to include HTB


    If you don't mind could I PM to get the wording you guys used if possible - we had put forward a few suggestions through our solicitor including a very loose "if and when" clause but the developers solicitors have refused.


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    #1115
    cookie.monster
    Registered Users Posts: 425 ✭✭cookie.monster


    sinella09 wrote: »
    I got a mail confirming my HTB claim has been approved and funds will be transferred to developer in 5 working days, does anyone know will I receive notification once the funds have been transferred?

    i'd like to know the answer to this also


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    #1116
    sibersha
    Registered Users Posts: 314 ✭✭sibersha


    sibersha wrote: »
    Does anyone know how long it takes for the builder/contractor to appear on the qualifying contractors list?
    I have been told that their documents were submitted nearly two weeks ago but still no sign of their name appearing on the list.

    Anyone know anything about the above?

    Developer said it can take 6 weeks (it's been 4 weeks now). I was concerned as the deadline is fast approaching, however revenue confirmed on the phone that as my application is approved and is just waiting on confirmation from the builder it won't be affected.

    That being said having spoke with various people from the revenue it's hard to take anything they say as gospel because you can get different information depending on who you are speaking to.


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    #1117
    cookie.monster
    Registered Users Posts: 425 ✭✭cookie.monster


    sibersha wrote: »
    Anyone know anything about the above?

    Developer said it can take 6 weeks (it's been 4 weeks now). I was concerned as the deadline is fast approaching, however revenue confirmed on the phone that as my application is approved and is just waiting on confirmation from the builder it won't be affected.

    That being said having spoke with various people from the revenue it's hard to take anything they say as gospel because you can get different information depending on who you are speaking to.
    yeah it can take the full 6 weeks to appear on the register, ours did anyway


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    #1118
    bigpete32
    Registered Users Posts: 9 ✭bigpete32


    janeybaby wrote: »
    Has anybody successfully had a clause referencing the HTB scheme inserted into their contracts? We are supposed to be signing this week but developers solicitors have refused to include any clause even a loose one that benefits both parties which is highly concerning.

    Send me a PM with your email and I'll send you the addition to our contract


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    #1119
    sneh
    Registered Users Posts: 6 ✭sneh


    If I have signed the contracts in Dec and still waiting for the signed contracts back from seller, is it correct that 31st March is the deadline to submit for the claim?


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    #1120
    68 lost souls
    Registered Users Posts: 3,990 ✭✭✭68 lost souls


    I just received the scanned copy of contracts from our solicitor and they are actually dated January of this year so no longer have to worry about March 31st deadline. phew


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    #1121
    bigpete32
    Registered Users Posts: 9 ✭bigpete32


    The contractors solicitors normally date the contract when they sign it. So in all likelihood it will be dated this year but you wont know till they send you the contract.


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    #1122
    68 lost souls
    Registered Users Posts: 3,990 ✭✭✭68 lost souls


    bigpete32 wrote: »
    The contractors solicitors normally date the contract when they sign it. So in all likelihood it will be dated this year but you wont know till they send you the contract.

    Their signature is on the scanned contract I have so I assume that's the one they sent our solicitor?


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    #1123
    bigpete32
    Registered Users Posts: 9 ✭bigpete32


    I suppose all are different, We signed ours in Feb but with no date, it came back from solicitors dates March 3rd. You could argue contract not really a contract till both parties have signed


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    #1124
    metricspaces
    Registered Users Posts: 793 ✭✭✭metricspaces


    Is anyone simply paying their 10% deposit out of their own funds, and telling the builder that the remaining 90% will made up of 5% from Revenue and 85% from yourself?

    In this scenario, is there any point or need to add something to the contract that refers to HTB scheme?


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    #1125
    bigpete32
    Registered Users Posts: 9 ✭bigpete32


    metricspaces wrote: »
    Is anyone simply paying their 10% deposit out of their own funds, and telling the builder that the remaining 90% will made up of 5% from Revenue and 85% from yourself?

    In this scenario, is there any point or need to add something to the contract that refers to HTB scheme?

    Yeah I think it's a requirement from the revenue. Not 100% but we had to change our contract


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    #1126
    myshirt
    Registered Users Posts: 5,245 ✭✭✭myshirt


    Any cases out there of people losing their holding deposit because of delays/not being able to complete in time?


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    #1127
    metricspaces
    Registered Users Posts: 793 ✭✭✭metricspaces


    bigpete32 wrote: »
    Yeah I think it's a requirement from the revenue. Not 100% but we had to change our contract

    You were paying the 10% deposit yourself and using the 5% to pay the remainder on completion?

    What exactly did you have to change in your contract?

    I have not read any information from Revenue that mentions anything to say the contract must reference HTB.


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    #1128
    Jellybaby17
    Registered Users Posts: 23 ✭Jellybaby17


    Hi everyone
    I am currently trying to avail of the htb and just have a couple of questions as I am a bit confused about how it's all working
    Our contractor has told us they want the full 10 % upfront and that the htb will be used at the end as a credit against the purchase price. I'm pretty annoyed as surely the whole point is to use it as part of the deposit?
    Anyhow if we agree to give the 10% and then apply to claim stage what figures do we put into revenue for the the question about what is the deposit you have already paid and the deposit payable?
    Can you put in 10% deposit figure and a loan to value of 90% and still be accepted? We obviously expected it to be 5% deposit paid and 5% deposit payable but if it's not working like that I don't know what figures to put in?

    Also I am worried about signing a house contract when we don't know for sure the htb will go through, we have been approved and gotten our codes but is there any chance that after you sign your contracts that when you are uploading and verifying that at that point revenue could refuse to give the money? Or is it once you have been approved that you will get it back at the claim stage 100%
    I'm worried about signing contracts that are binding h only to be refused and that would be very very serious. I am not a retrospective buyer so am really looking for some advice from the perspective of using the htb as part of the deposit or credit against purchase price
    Has anyone managed to successfully get something out into their contract about being able to pulll out if htb doesn't go through?
    Thanks


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    #1129
    bigpete32
    Registered Users Posts: 9 ✭bigpete32


    metricspaces wrote: »
    You were paying the 10% deposit yourself and using the 5% to pay the remainder on completion?

    What exactly did you have to change in your contract?

    I have not read any information from Revenue that mentions anything to say the contract must reference HTB.

    You are correct, But i wanted to use the 5% rebate to to pay to fit out the house, thats my issue, I am currently negotiating with the contractor to get him to refund me that part of my deposit.
    In relation to the contract, as soon as I mentioned the HTB to the solicitor het want back to contractors to have it inserted in the the contract.
    I would imagine from your own point of view you would want the contract to reflect the HTB especially as you are signing that money over to the contractor. Sorry if I gave the wrong info in relation to the revenue, Just what my solicitor said.


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    #1130
    Jellybaby17
    Registered Users Posts: 23 ✭Jellybaby17


    bigpete32 wrote: »
    You are correct, But i wanted to use the 5% rebate to to pay to fit out the house, thats my issue, I am currently negotiating with the contractor to get him to refund me that part of my deposit.
    In relation to the contract, as soon as I mentioned the HTB to the solicitor het want back to contractors to have it inserted in the the contract.
    I would imagine from your own point of view you would want the contract to reflect the HTB especially as you are signing that money over to the contractor. Sorry if I gave the wrong info in relation to the revenue, Just what my solicitor said.

    Have you already applied for your rebate? And if so what figures do you use if you are paying the 10% upfront? This process has me confused.
    I don't think revenuecsay anything about having to have htb in the contract either


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    #1131
    ec18
    Registered Users Posts: 2,720 ✭✭✭ec18


    Revenue don't require HTB in the contract, but if the clause isn't inserted and something were to go wrong with the application you would be liable to pay the full amount (purchase price of the house)


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    #1132
    janeybaby
    Registered Users Posts: 91 ✭✭janeybaby


    ec18 wrote: »
    Revenue don't require HTB in the contract, but if the clause isn't inserted and something were to go wrong with the application you would be liable to pay the full amount (purchase price of the house)

    Would really appreciate if anybody could advise what clause was added to referencing HTB to their contract?


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    #1133
    bigpete32
    Registered Users Posts: 9 ✭bigpete32


    janeybaby wrote: »
    Would really appreciate if anybody could advise what clause was added to referencing HTB to their contract?

    No clue how to PM on this but if you can PM me Ill reply with details.


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    #1134
    metricspaces
    Registered Users Posts: 793 ✭✭✭metricspaces


    ec18 wrote: »
    Revenue don't require HTB in the contract, but if the clause isn't inserted and something were to go wrong with the application you would be liable to pay the full amount (purchase price of the house)

    Revenue will only pay the 5% to the builder once contracts are signed.

    Once contracts are signed, you are legally obliged to buy the house i.e. there is no backing out, even if HTB falls through.

    So what exactly could be put in the contract and for what purpose?


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    #1135
    ec18
    Registered Users Posts: 2,720 ✭✭✭ec18


    The purpose of it is that it states in the contract that the builder must claim that 5% from revenue.....


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    #1136
    SMF17
    Registered Users Posts: 8 ✭SMF17


    This has probably been covered already but I'm a bit confused - am I right in thinking people have to put down the full 10% deposit themselves and the rebate follows? 

    I thought the whole idea was to help with/put towards deposit? 

    Excuse me if I've got this totally wrong and dragging up old news!


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    #1137
    RootX
    Registered Users Posts: 275 ✭✭RootX


    SMF17 wrote: »
    This has probably been covered already but I'm a bit confused - am I right in thinking people have to put down the full 10% deposit themselves and the rebate follows? 

    I thought the whole idea was to help with/put towards deposit? 

    Excuse me if I've got this totally wrong and dragging up old news!

    You're supposed to put down the balance, full deposit minus the Revenue rebate.
    The rebate is paid directly to the contractor so if everybody is onboard with how the process is outlined and supposed to work, you are not supposed to pay the full 10%.


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    #1138
    SMF17
    Registered Users Posts: 8 ✭SMF17


    RootX wrote: »
    SMF17 wrote: »
    This has probably been covered already but I'm a bit confused - am I right in thinking people have to put down the full 10% deposit themselves and the rebate follows? 

    I thought the whole idea was to help with/put towards deposit? 

    Excuse me if I've got this totally wrong and dragging up old news!

    You're supposed to put down the balance, full deposit minus the Revenue rebate.
    The rebate is paid directly to the contractor so if everybody is onboard with how the process is outlined and supposed to work, you are not supposed to pay the full 10%.
    RootX - cheers for that! Now if only the two developers we have looked at so far were registered :(:sick:


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    #1139
    Jellybaby17
    Registered Users Posts: 23 ✭Jellybaby17


    RootX wrote: »
    You're supposed to put down the balance, full deposit minus the Revenue rebate.
    The rebate is paid directly to the contractor so if everybody is onboard with how the process is outlined and supposed to work, you are not supposed to pay the full 10%.

    Our builder wants the full 10% deposit from us upfront and we can claim rebate later
    How are we meant to do that?


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    #1140
    pilly
    Banned (with Prison Access) Posts: 9,005 ✭✭✭pilly


    SMF17 wrote: »
    RootX - cheers for that! Now if only the two developers we have looked at so far were registered :(:sick:

    I thought that all developers had to register? Surely it's not in their interests not to register?


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    #1141
    RootX
    Registered Users Posts: 275 ✭✭RootX


    Jellybaby17 wrote: »
    Our builder wants the full 10% deposit from us upfront and we can claim rebate later
    How are we meant to do that?

    All I can tell you is that's not how the process is meant to work, according to the Revenue website.

    If you put down the full 10%, will Revenue accept that and still issue a refund to the builder? and what happens next, is the builder going to refund you?

    It's a pickle alright, silly they don't stick to the Revenue process. What does your solicitor say?


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