Help to buy as a group

Aaron15

Hi I've recently put down a booking deposit on a property, new build, and I am applying for the HTBI , I'm trying to apply as a group (with me and my fiancé ) and just can't get my head around the whole thing, any assistance would be sound, or if anyone on here works for the revenue and could help me out that would be pretty cool, and I'm also wondering, the property won't be ready for some time, like 6 months or so, at what stage do your repayments to the bank start? And all at what stage do you go about getting mortgage protection and home insurance?

dragon5678

Aaron15 wrote: »

Hi I've recently put down a booking deposit on a property, new build, and I am applying for the HTBI , I'm trying to apply as a group (with me and my fiancé ) and just can't get my head around the whole thing, any assistance would be sound, or if anyone on here works for the revenue and could help me out that would be pretty cool, and I'm also wondering, the property won't be ready for some time, like 6 months or so, at what stage do your repayments to the bank start? And all at what stage do you go about getting mortgage protection and home insurance?

Hi Aaron

Currently going through the process myself so hopefully this helps.

HTB - When applying as part of a group, either yourself or your fiance will need to make the initial application to Revenue, and submit the other's PPS number as part of the application. Then the other person will need to login to MyAccount and approve applying as a group, and they select the relevant years they would like the Revenue to consider and submit the application.
Before applying, make sure your Form 12s have been submitted and a P21 was generated off the back of the Form 12s for the years you and your fiance are looking to apply for. This normally takes 1-2 days to come through if there's nothing for the Revenue to object to. Applying now will give you HTB approval until 31/12/2018

Repayments usually start one month after the bank release funds to the solicitor, on completion of the sale. This is after your house is built, the completion notice has been sent to your solicitor and a completion of sale date is known.

Home Insurance and Mortgage Protection/Life Assurance need to be in place before the solicitor requests release of funds from the bank, so you can arrange these once the completion notice for your property has been received by you solicitor.

Hope This Helps

izzyflusky

Quick question. The 6 months the banksgive for AIP, is it until contracts are signed or completion date?

Also, since you two are going through the process. Have you found that people are queing up for days to book a new home like they did in early 2017 or have things calmed down?

Aaron15

dragon5678 wrote: »

Hi Aaron

Currently going through the process myself so hopefully this helps.

HTB - When applying as part of a group, either yourself or your fiance will need to make the initial application to Revenue, and submit the other's PPS number as part of the application. Then the other person will need to login to MyAccount and approve applying as a group, and they select the relevant years they would like the Revenue to consider and submit the application.
Before applying, make sure your Form 12s have been submitted and a P21 was generated off the back of the Form 12s for the years you and your fiance are looking to apply for. This normally takes 1-2 days to come through if there's nothing for the Revenue to object to. Applying now will give you HTB approval until 31/12/2018

Repayments usually start one month after the bank release funds to the solicitor, on completion of the sale. This is after your house is built, the completion notice has been sent to your solicitor and a completion of sale date is known.

Home Insurance and Mortgage Protection/Life Assurance need to be in place before the solicitor requests release of funds from the bank, so you can arrange these once the completion notice for your property has been received by you solicitor.

Hope This Helps

Thanks so much this will be a massive help for me, getting the ball rolling as we speak, thank you .

Aaron15

izzyflusky wrote: »

Quick question. The 6 months the banksgive for AIP, is it until contracts are signed or completion date?

Also, since you two are going through the process. Have you found that people are queing up for days to book a new home like they did in early 2017 or have things calmed down?

Because we're buying a new house bank of Ireland have given us 12 months , don't know if that's the norm, found it strange myself, and I'm buying in monstarevin in Kildare, so there wasn't any ques when we went looking, I think if it's in Dublin you might get ques, but the way prices are now in Dublin is why I looked outside.

autumnbelle

Can the Help to buy amount be considered as part of your deposit by the bank? Has it to be certain developers only?

Aaron15

autumnbelle wrote: »

Can the Help to buy amount be considered as part of your deposit by the bank? Has it to be certain developers only?

You can get up to 5% of the value of the property to fund your deposit, and yes, only certain builders are registered for the help to buy so just make sure that the builder you choose is in fact registered.

Spidey259

Does anyone know if we can cancel our application and resubmit? We originally put it through for 4 years but the Revenue is taking too long to process the Form 12s so we want to submit with less years to speed it up.

GingerLily

Spidey259 wrote: »

Does anyone know if we can cancel our application and resubmit? We originally put it through for 4 years but the Revenue is taking too long to process the Form 12s so we want to submit with less years to speed it up.

All my forms were approved together - it didn't take any additional time? It really was quite fast I found.

MSVforever

Spidey259 wrote: »

Does anyone know if we can cancel our application and resubmit? We originally put it through for 4 years but the Revenue is taking too long to process the Form 12s so we want to submit with less years to speed it up.

How long is it since you have filed the forms 12? After 48 hours yous should be able to see your P21 statements. If not then I would call revenue asap. If you are under investigation for health expenses or other underpayments it can drag on for weeks or months.

MSVforever

Aaron15 wrote: »

Because we're buying a new house bank of Ireland have given us 12 months , don't know if that's the norm, found it strange myself, and I'm buying in monstarevin in Kildare, so there wasn't any ques when we went looking, I think if it's in Dublin you might get ques, but the way prices are now in Dublin is why I looked outside.

Wow 12 month that's great.
We were only given 6 months with BOI despite completion date will be at least September..... apparently they can extend the loan offer though. Did you buy in Brocan Wood? Lovely houses there. We were very tempted with the houses but commuting costs put us off in the end.

Aaron15

MSVforever wrote: »

Wow 12 month that's great.
We were only given 6 months with BOI despite completion date will be at least September..... apparently they can extend the loan offer though. Did you buy in Brocan Wood? Lovely houses there. We were very tempted with the houses but commuting costs put us off in the end.

No we bought in the glade in oldgrange wood, we went to view the brocan wood houses, they are very nice. Yeah the comute was a slight put off for us too, but we weighed up all the pros and cons and the cons won, I live in clondalkin now myself so happy to be moving somewhere a lot less noisy and busy, my job is right beside the train station and so are the houses that are we’re moving into so that was a big plus.

MSVforever

Aaron15 wrote: »

No we bought in the glade in oldgrange wood, we went to view the brocan wood houses, they are very nice. Yeah the comute was a slight put off for us too, but we weighed up all the pros and cons and the cons won, I live in clondalkin now myself so happy to be moving somewhere a lot less noisy and busy, my job is right beside the train station and so are the houses that are we’re moving into so that was a big plus.

I definitely like the area and you have Kildare town around the corner.
It's handy with the train station and with the taxsaver ticket the commuting costs are reasonable. Unfortunately not an option for myself so we decided on a new house in Adamstown instead.

Good luck with your new house!

Aaron15

MSVforever wrote: »

I definitely like the area and you have Kildare town around the corner.
It's handy with the train station and with the taxsaver ticket the commuting costs are reasonable. Unfortunately not an option for myself so we decided on a new house in Adamstown instead.

Good luck with your new house!

Thanks a lot, hope everything goes smoothly for yourself 🙂