There are endless articles, posts and conflicting information regarding the Help to Buy Scheme, but how does it affect you and the purchase of your new home? Your mortgage is approved, you have decided to buy your house in Maydenhayes, but what happens next?
Once you have completed your mortgage application and you know how much you will receive from Help to Buy, you are now ready to choose your Maydenhayes new house.
Mornington New Homes Solicitor will then send your solicitor the contracts for your new house.
When you have signed your contacts, the deposit to be paid on the contract is 10% of the purchase price.
For example, lets assume you want to buy a house which is priced at €267,500 and you qualify for €15,000 from the Help to Buy Scheme.
The house price of €267,500 will require a down payment of 10% which is €26,750.
You have already paid the booking deposit of €5,000, so the balance due at this point is €21,750.
This leaves the balance of €6,750 to be paid by you.
Your solicitor will send the signed contracts to Mornington New Home Solicitor, for them to complete their signatures.
The completed Contract is returned to your solicitor.
Your solicitor will give you the signed contracts to upload to ROS website.
This number must be sent to Mornington New Homes. They will claim the balance of the Help to Buy Deposit from Revenue. This is paid directly to Mornington New Homes bank account.