Government Funds Local Authority Housing Scheme

SNNUS

Grali87 wrote: »

Hey Guys, My application is through to stage of the credit committee (Kildare Co Co), they are meeting on the 14th, however today my solicitor emailed to say they just received the contracts and to confirm when I have full loan approval, I'm concerned about timing, what do you reckon? I don't have a "you must sign in this many days to get this" type clause.

You usually have at least 21 days to sign so you will have plenty of time.

Grali87

SNNUS wrote: »

You usually have at least 21 days to sign so you will have plenty of time.

Ah SNNUS I tried to private message you but I haven't posted enough yet haha

From offer of loan to signing contracts how long did that take for you?

irishfeen

Hey ladies and gents has anyone on here been approved or drawn down money for a self build?

ad1234

Grali87 wrote: »

Hey Guys, My application is through to stage of the credit committee (Kildare Co Co), they are meeting on the 14th, however today my solicitor emailed to say they just received the contracts and to confirm when I have full loan approval, I'm concerned about timing, what do you reckon? I don't have a "you must sign in this many days to get this" type clause.

Our solicitor got a clause in that signing the contracts was funding dependant. Basically if we failed to secure funding our deposits would be safe and refundable. He did it off his own bat as he saw a lot of his clients loose a lot of money when jobs fell through during the recession and could not get loans but it may be something to look into. The solicitors on the other side had no problem but asked that they could revoke this clause at any stage (only realistically would happen if the house was ready to go and we were delaying and delaying and delaying, which is fair enough) and we would have to make the contracts unconditional if they did and either go through with the sale or pull out.
we did that in January when signing the contracts and the house is just about built now so the solicitors have asked we make the contracts unconditional now but thats fine by us as in that time we have secured the loan. It may buy you time.

navono

Hi does anybody know if the mortgage protection cover chronic illnesses on this scheme? It seems to say that someone is ineligible if they are under a consultant or have been in prescription medication in the last 12months but maybe I am misreading it? Does anyone have any experience with this? Any information would be helpful thanks

The_Conductor

navono wrote: »

Hi does anybody know if the mortgage protection cover chronic illnesses on this scheme? It seems to say that someone is ineligible if they are under a consultant or have been in prescription medication in the last 12months but maybe I am misreading it? Does anyone have any experience with this? Any information would be helpful thanks

Some local authorities are allowing private mortgage protection insurance- which means it both has a loading and typically does not cover chronic illnesses. E.g. a 200% (or more) loading- and the policy is a 'death-only' policy (or such similar terms).

Typically- chronic illnesses are never covered- unless they are diagnosed after the commencement of the policy-as the fact of the matter is- you represent a significant risk to any prospective insurer.

Note: I say the above as someone with Crohn's Disease myself- and a 400% loading on my policy and no cover for any hospitalisation or loss of pay..........

Darkglasses

navono wrote: »

Hi does anybody know if the mortgage protection cover chronic illnesses on this scheme? It seems to say that someone is ineligible if they are under a consultant or have been in prescription medication in the last 12months but maybe I am misreading it? Does anyone have any experience with this? Any information would be helpful thanks

Very likely to be ineligible for the Local authority MPI scheme - they will likely send you for phone interview with the insurer but it is the likely outcome. In which case you need to source independent cover

irishfeen

Does anyone know how long the process is taking once the file is sent to the housing agency? My application was sent in on the 4th September by Cork Co Co.

robbo25

Hi

Our Offer letter is being returned tomorrow and contracts have gone back to the other solicitor, how quick can drawdown be? 10 days?? House insurance arranged and don't think anything else outstanding from our end??

rachieqtpie

robbo25 wrote: »

Hi

Our Offer letter is being returned tomorrow and contracts have gone back to the other solicitor, how quick can drawdown be? 10 days?? House insurance arranged and don't think anything else outstanding from our end??

the county council has to request funds we were told it would take 3-5 working days and it took 5 or 6 days i think. then transferred the money to other solicitor and signed the next day . so took us 7 working days.

autumnbelle

When do the contracts come? We have signed letter of offer and returned and mpi. Do we wait for solicitor to contact us?

Sammylok1977

I got loan approval and found the property in Dublin 24, when I submitted my Form 3 to DCC where I applied for the mortgage, however the council rejected me because the area I choose is not belong to DCC where I got the approval. They told me I have to reapply the scheme with South DCC, my loan approval only allowed to purchase in DCC area like Finglas or Ballymum.
It was totally heart broken for me coz this is the place I dream for and I had paid all the survey and valuation report. Now I have to find the property only in DCC area. This is very upsetting and heart broken. I hope everyone in Dublin please be aware the council you apply and the area you choose and make sure the area is belong to the council you apply.

DUB924

We have signed our form 1 and 2 and sent back so do we now wait till we have found somewhere before our solicitors are contacted?

ad1234

is our 6 month term of approval from the point the solicitor gets the loan pack or from when we accept the loan offer or from when the loan offer is issued would anyone know?

Cocobean1

DUB924 wrote: »

We have signed our form 1 and 2 and sent back so do we now wait till we have found somewhere before our solicitors are contacted?

That's what we did. Have gone sale agreed now so have contacted solicitor. I let council know and they just said to get forms back to them and it will go to their solicitors who will liaise with ours.

Darkglasses

ad1234 wrote: »

is our 6 month term of approval from the point the solicitor gets the loan pack or from when we accept the loan offer or from when the loan offer is issued would anyone know?

Councils may vary on this but in my experience, your provisional approval is valid for 6 months and then the official letter of offer is valid for three, although they really shouldn't have any reason not to extend that one if you request it.

autumnbelle

How long has it taken for people to receive contracts?

Perez2017

I received my approval last week. Over the moon but today i was informed I can't build direct labour and have to go with a builder which I don't have the budget for. Totally gutted.

sarah88

Perez2017 wrote: »

I received my approval last week. Over the moon but today i was informed I can't build direct labour and have to go with a builder which I don't have the budget for. Totally gutted.

Wow really?? Did they give a reason? What council was this with?

Perez2017

sarah88 wrote: »

Wow really?? Did they give a reason? What council was this with?

Cork county council. They said people in the past were taking too long direct labour so had to go with a builder. I'm sick.

autumnbelle

Had you signed approval letter?

Perez2017

autumnbelle wrote: »

Had you signed approval letter?

No nothing signed.

unclejoe89

I initially got approved for x amount 3 months ago.

Can I now apply again before the 6 months approval runs out.

The reason is I'm getting a raise which could send me over the threshold so I won't be able to apply again in 3 months if I don't get a house.

Viktoria99

Hi Guys,

We have had final approval meeting with fingal county council two weeks ago signed all the papers, now we are waiting for the legal team to contact our solicitor. Anyone has gone through this stage? how long should we wait for a reply? Is it possible that we can still get rejected even if we got an approval in principal?

We have put a deposit on a house and gone sale agreed three weeks ago.

stryker mcqueen

Viktoria99 wrote: »

Hi Guys,

We have had final approval meeting with fingal county council two weeks ago signed all the papers, now we are waiting for the legal team to contact our solicitor. Anyone has gone through this stage? how long should we wait for a reply? Is it possible that we can still get rejected even if we got an approval in principal?

We have put a deposit on a house and gone sale agreed three weeks ago.

Took us 3 weeks to get contracts sent to our solicitor, unlikely you can be declined unless you went on a mad gambling spree :pac:

Viktoria99

stryker mcqueen wrote: »

Took us 3 weeks to get contracts sent to our solicitor, unlikely you can be declined unless you went on a mad gambling spree :pac:

Thank you for your reply, and then how long did it take for you to get the keys to the house finally?

stryker mcqueen

Viktoria99 wrote: »

Thank you for your reply, and then how long did it take for you to get the keys to the house finally?

Only signed contracts yesterday so I will let you know when I do!

unclejoe89

I'm waiting on a valuation from the Coco.

What happens if the valuation is for less then I paid...?

Darkglasses

unclejoe89 wrote: »

I'm waiting on a valuation from the Coco.

What happens if the valuation is for less then I paid...?

Nothing really, the only real way to show an open market value is what you actually paid for it. The rebuild value is relevant for your home insurance requirements.

remi76

Hi Lads,

I need some advice. We got Approval in Principle from CC. 2 weeks ago we have found New Development, we paid deposit and hire solicitor.So we are on Sale Agree now. We sent deposit proof and details of property to CC and solicitor details. By Estate Agent this house will be to be ready in November. But CC said I can't get full Loan Pack before house will be ready for valuation. But from other side Developer/Estate Agent push me to sign contract within 2 weeks, but I've no Loan Pack and will not get this before valuation as they says in Council Loan Dept.. Do you have any expierence with this? Do you think CC should offer Loan Pack before valuation like normal Bank do it?

Thx. Best regards