Government Funds Local Authority Housing Scheme

SNNUS

rachieqtpie wrote: »

We got our approval today from Meath county council. Just short of 5 weeks. Delighted is an understatement!
We have been dealing with Joe there and he has been an absolute gent and so helpful all the way through.

Congrats! And great that you had a short wait so looks like they are really helpful.

autumnbelle

rachieqtpie wrote: »

We got our approval today from Meath county council. Just short of 5 weeks. Delighted is an understatement!
We have been dealing with Joe there and he has been an absolute gent and so helpful all the way through.

Brilliant :)

GF2013

We’re nine weeks in today, the waiting is driving me nuts! Has anybody waited this long and been rejected? I called today and they said it’s going to credit committee so I’m hoping this is a good sign?

Whodat19

GF2013 wrote: »

We’re nine weeks in today, the waiting is driving me nuts! Has anybody waited this long and been rejected? I called today and they said it’s going to credit committee so I’m hoping this is a good sign?

The credit committee are the ones who have the final say so best of luck. Fingers crossed

redmond08

I rang the other day and they said mine is with the housing agency, that good or bad? He said I won't hear for roughly another 3 weeks. I've been waiting 5 weeks.

Whodat19

redmond08 wrote: »

I rang the other day and they said mine is with the housing agency, that good or bad? He said I won't hear for roughly another 3 weeks. I've been waiting 5 weeks.

I'm not sure to be honest. I assumed it went straight to under writers and then to credit committee. Hopefully someone can shed light on this

GF2013

redmond08 wrote: »

I rang the other day and they said mine is with the housing agency, that good or bad? He said I won't hear for roughly another 3 weeks. I've been waiting 5 weeks.

When I spoke to the lady in co co this morning she said ours had come back from Housing Agency in Dublin and was going to credit committee next, so I’d imagine housing agency, underwriters and then credit committee? Best of luck, the waiting is absolutely nerve wracking!!!

redmond08

GF2013 wrote: »

When I spoke to the lady in co co this morning she said ours had come back from Housing Agency in Dublin and was going to credit committee next, so I’d imagine housing agency, underwriters and then credit committee? Best of luck, the waiting is absolutely nerve wracking!!!

Yeah the waiting really is! I spoke to RIHL today and they said you can appeal it if you do get rejected. So that's good to know.

autumnbelle

I rang our council today before appointment to drop in forms and there was extra items not on checklist needed. Also does anyone know what mortgage protection with them would be on top of repayments of 750 a month

unclejoe89

trudy2222 wrote: »

Hi guys just wondering if anyone knows whether the continuous employment element of the application means you have to be in the same job 1/2 years or can you go from one source of employment staright into another? Basically do I have to stay in my current job or can I take on a new position with another company? Tia

Did you find out about this yet, I'm wondering the same?

SNNUS

GF2013 wrote: »

We’re nine weeks in today, the waiting is driving me nuts! Has anybody waited this long and been rejected? I called today and they said it’s going to credit committee so I’m hoping this is a good sign?

My wait was exactly 10 weeks, Credit committee is a good sign. Ask them when the next credit meeting so you can call them after..

SNNUS

unclejoe89 wrote: »

Did you find out about this yet, I'm wondering the same?

See below...

Jan O'Sullivan (Limerick City, Labour)
Link to this: Individually | In context

I seek clarity following the written answer I received to a previous parliamentary question on eligibility for the Rebuilding Ireland home loan scheme. It states that the primary earner on the application must have at least two years' continuous employment, which can be self-employment, and the second applicant must have continuous employment for at least one year. However, the application form states "continuous permanent employment". I know of people whose applications have been rejected by the local authority because their continuous employment was not permanent.

The written answer to the parliamentary question also stated "continuous permanent employment" and that the Department would liaise with the Housing Finance Agency etc. to ensure consistent information. When checking at the time of tabling this question I found that the form still states "permanent employment". I ask that this be clarified. Obviously some people really want to get this loan because they cannot get it anywhere else. It is very important that they are not squeezed out because of lack of information.

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Photo of Damien EnglishDamien English (Meath West, Fine Gael)
Link to this: Individually | In context

As the Deputy will be aware, the Rebuilding Ireland home loan is targeted at first-time buyers who wish to own their own home, satisfy the relevant income limits, have access to an adequate deposit and have the capacity to repay a mortgage, but who are unable to access a mortgage sufficient for them to purchase their first home.

As previously noted regarding this issue, the primary earner on the application must have at least two years’ continuous employment and the second applicant must have continuous employment for at least one year. Both self-employment and employment with a number of different employers can be counted as part of this continuous employment.

Since this issue was last raised, the Minister, Deputy Eoghan Murphy, has had a chance to meet the chief executives of the two main agencies involved in the implementation of the scheme, the Housing Agency and the Housing Finance Agency, to address any issues arising from the roll-out of the scheme.

One of the items raised was the manner in which information is presented on the application form. The Housing Finance Agency has undertaken to amend the wording on the application form to more clearly reflect the requirements of the scheme, specifically in reference to “continuous employment”, which I anticipate will address the Deputy’s concerns on this point.

The application form for the scheme contains the phrase “continuous permanent employment” at point 4 of the eligibility requirements. The requirements for the scheme do not require that the relevant employment be explicitly permanent, but rather continuous in nature. The primary earner on the application must have at least two years' continuous employment, which can be self-employment or with several employers, and the second applicant must have at least one year of continuous employment. The Housing Finance Agency will revise the application form to fully clarify this point. I am glad to have the opportunity to put it on the record today.

GF2013

SNNUS wrote: »

My wait was exactly 10 weeks, Credit committee is a good sign. Ask them when the next credit meeting so you can call them after..

The lady said the credit committee are trying to meet every week now as opposed to every two weeks to try get through the back log of applications so fingers crossed they meet next week and we get answer the week after!

unclejoe89

Does anyone know how long you must show repayment capacity, I know most banks look for previous 6 months? Does CC look for more, maybe 12?

Sammylok1977

May I ask do you have Irish citizenship?

Ailbag

Was just onto DCC (apparently I'm back from the underwriter and waiting on credit committee - applied 6 weeks ago today). Interestingly, I was told that if I don't draw down the mortgage within 6 months of being accepted, I will have to start from scratch!? Seems a tad inefficient...

quadrifoglio verde

Ailbag wrote: »

Was just onto DCC (apparently I'm back from the underwriter and waiting on credit committee - applied 6 weeks ago today). Interestingly, I was told that if I don't draw down the mortgage within 6 months of being accepted, I will have to start from scratch!? Seems a tad inefficient...

It's the same with every mortgage

Whodat19

Got on to the CoCo today to see if they could hurry the application in any way as we out of our rented accommodation soon & no house available to rent that we can afford (rent has nearly doubled around the region the past few months & the mortgage repayments estimated are basically same as we paying for rent at minute). We should know in 2 weeks now they told us. Fingers crossed.

ad1234

can I just ask is anyone here dealing with Wicklow coco?

Sammylok1977

May I also ask how's the blanchestown county council ? I live in Dublin 8, but I have make the appointment with blanchestown county council

Sammylok1977

May I also ask how's the blanchestown county council ? I live in Dublin 8, but I have make the appointment with blanchestown county council

GF2013

Just got a rejection letter, nearly 10 weeks waiting! Absolutely gutted! Anybody appeal so far?

Whodat19

GF2013 wrote: »

Just got a rejection letter, nearly 10 weeks waiting! Absolutely gutted! Anybody appeal so far?

Oh no I'm so sorry to hear. Definetly appeal. Can I ask why it was rejected?

maxymo

GF2013 wrote: »

Just got a rejection letter, nearly 10 weeks waiting! Absolutely gutted! Anybody appeal so far?

Sorry to hear that, I did appeal last week. You need to provide documents to support your appeal and send to the same person who received initially your application in the council you applied. They will send it to underwriters or whoever it should go. As I understood it will probably take another 6 weeks or so.

Sammylok1977

I called to make appointment with DCC but no one answer and put me on the on hold call for almost 2 hours ! I called since 9.30am till 11.30am still on hold !! Absolutely nightmare!!

Whodat19

Sammylok1977 wrote: »

I called to make appointment with DCC but no one answer and put me on the on hold call for almost 2 hours ! I called since 9.30am till 11.30am still on hold !! Absolutely nightmare!!

Would you be better going down in person to them?

GF2013

Whodat19 wrote: »

Oh no I'm so sorry to hear. Definetly appeal. Can I ask why it was rejected?

They gave three reasons,which as far as our calculations are telling us, are not correct.

Net Income Ratio Outsude of Policy
Repayment Capacity Not Demonstrated
Outside Credit Policy: The Maximus loan to Value is 90%, this application exceeds this.

Our repayments would be just under a third of monthly income,

We have over 10% deposit for amount we applied for so not sure what they mean by that.
I see how they say we didn’t demonstrate repayment capacity as we’re living with parents the past three yrs to save for a deposit so there are no rent payments going out of our account and we got married last year so had additional expenditures out of our account. We set up regular savings account in January and applied in March so would have only shown three months Reg amount being saved, but savings prior to this done in current a/c and we were told at beginning this was ok. We’re hoping to appeal and send in new bank statements since January which will show more regular savings. They drip feed you information though and the stress of waiting so long only to be turned down is soul destroying!!!

GF2013

maxymo wrote: »

Sorry to hear that, I did appeal last week. You need to provide documents to support your appeal and send to the same person who received initially your application in the council you applied. They will send it to underwriters or whoever it should go. As I understood it will probably take another 6 weeks or so.[/QUOT.
Thanks for that! Do you mind if I ask you what documents you sent in? I’m printing more up to date bank statements now which show higher savings amount the past 5 months. Not sure what else they might need?

Whodat19

GF2013 wrote: »

They gave three reasons,which as far as our calculations are telling us, are not correct.

Net Income Ratio Outsude of Policy
Repayment Capacity Not Demonstrated
Outside Credit Policy: The Maximus loan to Value is 90%, this application exceeds this.

Our repayments would be just under a third of monthly income,

We have over 10% deposit for amount we applied for so not sure what they mean by that.
I see how they say we didn’t demonstrate repayment capacity as we’re living with parents the past three yrs to save for a deposit so there are no rent payments going out of our account and we got married last year so had additional expenditures out of our account. We set up regular savings account in January and applied in March so would have only shown three months Reg amount being saved, but savings prior to this done in current a/c and we were told at beginning this was ok. We’re hoping to appeal and send in new bank statements since January which will show more regular savings. They drip feed you information though and the stress of waiting so long only to be turned down is soul destroying!!!

I would definetly appeal if that's the case. Can you get a local TD involved to help speed up the process? The Coco don't seem to know a lot compared to the RL hotline

The more up to date statements will be a big help with your appeal

Coinsguy

Heard a few horror stories or using online calculators as proof of rejections. Not really worth the risk then?

So then I need to get offers from 2 banks that will give me lower than what I want so