Dáil Éireann Debate, Tuesday - 24 January 2017
136. Deputy Brendan Griffin asked the Minister for Finance the rights and recourse a first time buyer has in the event of a builder or developer refusing to complete the required forms to enable the buyer to avail of the new first time buyers scheme; if there is an alternative route for the buyer to follow in such circumstances to avail of the grant; and if he will make a statement on the matter. [2572/17]
View answerThe legislation setting out the payment provisions for the Help to Buy incentive is contained in Section 477C (16) of the Taxes Consolidation Act 1997. Claimants are required to complete a two-stage online process; an application and then a claim.
First-Time Buyers under the Help to Buy incentive fall into 3 categories as follows:-
1. Claimants who have contracted to purchase, or drawn down the first tranche of their qualifying loan to self-build, their home in the period between 19 July 2016 and 31 December 2016, inclusive. This category is known as Retrospective Claimants.
2. Claimants who contract to purchase their home, in the period between 1 January 2017 and 31 December 2019.
3. Claimants who draw down the first tranche of their qualifying loan to self-build their home in the period between 1 January 2017 and 31 December 2019.
Regarding retrospective claimants, I am advised by Revenue that the claim process does not require the developer to pass information to Revenue. Instead, retrospective claimants are required to submit supporting documentation including a signed copy of the contract, evidence of their mortgage or mortgage drawdown, and details of the property directly to Revenue.
Regarding claimants who contract to purchase their home in the period between 1 January 2017 and 31 December 2019, I am advised that the information supplied by the claimant will require verification by the Revenue-approved qualifying contractor before any refund is paid. The appropriate refund will be made directly to the qualifying contractor. Therefore I am advised that Revenue do not envisage any delays on the part of the contractor in completing the process.
Regarding claimants who draw down the first tranche of their qualifying loan to self-build their home in the period between 1 January 2017 and 31 December 2019, I am advised that the information supplied by the claimant will require verification by the claimant's solicitor before any refund is paid. The appropriate refund will be made to the claimant's qualifying loan bank account. Such claims do not require the developer to pass information to Revenue.
I am advised by Revenue that once complete information is received, all refunds are being processed in full without delay.
All claimants are advised to provide the necessary information to Revenue via MyEnquiries, which is an online service that allows customers to securely send correspondence to Revenue. MyEnquiries can be accessed from the Revenue website www.revenue.ie either through myAccount or through ROS (Revenue's Online Service), depending on whether the claimant is a PAYE taxpayer or a self-employed taxpayer.
If the Deputy knows of a contractor who is not co-operating with a First Time Buyer to allow them claim any payments under the Help To Buy incentive, he should provide these details to my officials and I will arrange to have this information passed to Revenue.
