Frequently Asked Questions
Can you recommend a mortgage broker / bank liaison?
The Vella Sales Agents have a panel of mortgage brokers to recommend and assist you with the funding process.
Can you recommend a solicitor?
Use myAccount or Revenue Online Service (ROS) to apply for HTB online.
There are two stages to the online process:
- the application stage
- the claim stage.
To qualify and claim HTB, you must:
- be a first-time buyer
- buy or build a new property between 19 July 2016 and 31 December 2021
- live in the property as your main home for five years after you buy or build it
- be tax compliant, if you are self-assessed you must also have tax clearance.
To qualify, you must not have previously bought or built a house or apartment, either on your own or jointly with any other person. If you are buying or building the new property with other people, they must also be first-time buyers. If you have inherited or been gifted a property it will not affect your eligibility.If you are buying the property, you must have signed a contract to buy that property on or after 19 July 2016. If you are self-building, you must have drawn down the first part of the mortgage on or after that date.
The contractor you are purchasing your home from must be approved by Revenue. You can check the list of approved developers and contractors to make sure that your developer or contractor is approved. Vella Homes is an approved developer and contractor.
How do I apply for the HTB scheme, and how do I know if I qualify?
Use myAccount or Revenue Online Service (ROS) to apply for HTB online.
There are two stages to the online process:
- the application stage
- the claim stage.
To qualify and claim HTB, you must:
- be a first-time buyer
- buy or build a new property between 19 July 2016 and 31 December 2021
- live in the property as your main home for five years after you buy or build it
- be tax compliant, if you are self-assessed you must also have tax clearance.
To qualify, you must not have previously bought or built a house or apartment, either on your own or jointly with any other person. If you are buying or building the new property with other people, they must also be first-time buyers. If you have inherited or been gifted a property it will not affect your eligibility.If you are buying the property, you must have signed a contract to buy that property on or after 19 July 2016. If you are self-building, you must have drawn down the first part of the mortgage on or after that date.
The contractor you are purchasing your home from must be approved by Revenue. You can check the list of approved developers and contractors to make sure that your developer or contractor is approved. Vella Homes is an approved developer and contractor.
At what stage do I sign the contract?
Once you have reserved your home and paid the booking deposit to the sales agent, Vella’s solicitor will send the Contract for Sale and supporting documentation to your solicitor for review. Once your solicitor is satisfied with the title, you will be contacted to arrange signing of the contract in duplicate.
What happens after signing?
After the contracts are signed by you and Vella Homes, the contracts are exchanged, which means one contract is kept by Vella’s solicitor and one is kept by your solicitor. The sale will then be binding for both sides.
What is a snag list and how long does this take?
A snag list is a list of minor omissions in the building works compiled by you or your representative upon first inspection of your home prior to closing the sale. These items are addressed by the developer within typically 5-10 days. Upon your return for inspection these are signed off as completed by you.
What does the snagging process entail?
The purchaser can do their own snag, appoint a snagger (surveyor) of their preference or Vella Homes can recommend a list of snaggers. Once the snag list is received, Vella will work through the list and then call the purchaser to reinspect the unit for sign off. When the purchaser is invited to snag their property, a completion notice is issued to their solicitor informing of our intention of closing the sale within 21 days. Once the final inspection has been completed, the purchaser will instruct their solicitor to arrange closing with Vella’s solicitor and contact their bank to request drawdown of funds.
When can I collect the keys to my new home?
Once the solicitors finalise all the closing documents and funds are received by Vella Homes solicitor, the sale will close. You will be contacted by Vella’s relationship management team who will arrange for handover of keys & welcome pack and access to your new home.
Help to Buy Scheme
Enhanced Help to Buy Scheme
The maximum amount available was increased in 2020 and applies until 31 December 2029.
If you sign a contract for a new house, or draw down on a self-build mortgage, between 23 July 2020 and 31 December 2029, you can get the increased relief.
You can claim relief on the lesser of:
- €30,000
- 10% of the market value of a new build property
- 10% of the approved valuation of a self-build property
- The amount of income tax and DIRT you paid for the 4 years before the year you apply. (You cannot claim relief on PRSI or USC).
The maximum payment is €30,000 per qualifying property under the enhanced scheme. This cap applies regardless of how many people are involved in buying the property.
You can read more about the Enhanced Help to Buy Scheme on Revenue.ie.
