Trying to get my head around the HTB in my situation for a self-build. I'm using rounded figures just to make this easier for my own brain.
> House Build Value: €400k
> Deposit from Personal Savings: €120k
> Mortgage Value: €280k
> LTV: 70%
> HTB Rebate: €30k
We have paid over €30k in taxes in the last 4 years so will get the HTB.
In this situation, do we just get the €30k into our bank accounts for us to do what we want with, or does the €30k come off the house build value or mortgage value? If the €30k comes off the house build value or mortgage value does this then actually end up pushing us below the 70% LTV?
My reading of the HTB seems to suggest that the €30k HTB rebate gets added to our deposit amount, so our deposit becomes €150k which makes us ineligible for the HTB scheme. If this is the case, are we better off only putting €90k of our own savings towards the house so we get the €30k rebate, taking out a mortgage that allows early repayments, and paying the spare €30k from our savings off the mortgage in a lump sum?
Are there any rules about paying off lump sums from a mortgage if you've received the HTB rebate?
> House Build Value: €400k
> Deposit from Personal Savings: €120k
> Mortgage Value: €280k
> LTV: 70%
> HTB Rebate: €30k
We have paid over €30k in taxes in the last 4 years so will get the HTB.
In this situation, do we just get the €30k into our bank accounts for us to do what we want with, or does the €30k come off the house build value or mortgage value? If the €30k comes off the house build value or mortgage value does this then actually end up pushing us below the 70% LTV?
My reading of the HTB seems to suggest that the €30k HTB rebate gets added to our deposit amount, so our deposit becomes €150k which makes us ineligible for the HTB scheme. If this is the case, are we better off only putting €90k of our own savings towards the house so we get the €30k rebate, taking out a mortgage that allows early repayments, and paying the spare €30k from our savings off the mortgage in a lump sum?
Are there any rules about paying off lump sums from a mortgage if you've received the HTB rebate?
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