Rebuilding Ireland home loan

3283winnie

diceyreilly wrote: »

I emailed them yesterday this was the response.

Greetings Mark
Sorry for the delay in getting back to you.

Your application was received, and will be brought to the credit committee at the end of May for final decision. We will inform you of the outcome shortly after that.

Kind Regards
Ciarán

Can I ask when did you apply just wondering how long the wait is thanks

diceyreilly

3283winnie wrote: »

Can I ask when did you apply just wondering how long the wait is thanks

They received my pack the first friday in march.

3283winnie

diceyreilly wrote: »

They received my pack the first friday in march.

Wow that was fast best of luck I sent my pack back in April so fingers crossed it goes fast enough

cgxct

Hi, I got informed this morning our application for Wicklow coco is going to the housing agency. Does anybody know how long this part of the process takes? Any advice appreciated

Darkglasses

TBD_1983 wrote: »

Hi All,

I have just received approval in principal, for a lower amount than on calculator ( that's being appealed at the moment) but the question i have is the monthly repayment amount listed on the approval in principal, does that include MPI as is it €91 more expensive per month than listed on calculator and would bring interest rate to 3.828% rather that the listed 2.995%

can anyone who has their AIP answer this? thanks

The website calculator gives you the repayment exclusive of the MPI charge, each Council's approval letter would be slightly different but you'd imagine they do include the MPI charge in their repayment on that. Definitely a failing with the website not to include the MPI charge.

Worth noting that the MPI charge does not behave like your interest charges - MPI reduces each year as your capital reduces. Your mortgage interest rate will be fully fixed

LaurenMcHugh

cgxct wrote: »

Hi, I got informed this morning our application for Wicklow coco is going to the housing agency. Does anybody know how long this part of the process takes? Any advice appreciated

Ours took about 4/5 weeks with the housing agency and once it was back it went straight to the credit committee and we got the letter of offer the same week

cgxct

LaurenMcHugh wrote: »

Ours took about 4/5 weeks with the housing agency and once it was back it went straight to the credit committee and we got the letter of offer the same week

Brilliant thank you!

clio_16v

Sent my application to Cork City Council around 4 weeks ago and got no confirmation email or letter. Emailed them today and was told it has been forwarded to the Housing Agency for a recommendation.

Does this mean they are recommending approval or does it just mean it has been processed?

Any idea of a timeline from here to being able to bid?

akelly02

hi lads

am i right in saying this particular avenue doesnt take children into account??

optogirl

akelly02 wrote: »

hi lads

am i right in saying this particular avenue doesnt take children into account??

I'm pretty sure they don't - no area of the form to add those details so it mustn't matter to much

optogirl

We are in yet another bidding war and our AIP runs out in June -- if, in some fantasy world, we are the winning bidders & we send the info back to DCC, does the clock stop?

Carliztal

Has anyone on here ever received more than the online calculator quoted. I earn 49 k. Online they calculated I could borrow 200000 but i would need 220. Can I put max available on application or should I stick to what they quote me

3283winnie

Carliztal wrote: »

Has anyone on here ever received more than the online calculator quoted. I earn 49 k. Online they calculated I could borrow 200000 but i would need 220. Can I put max available on application or should I stick to what they quote me

I wrote max in my amount on application and they sent it back telling me to put what the calculator is telling me that was sdcc office

Jafin

Carliztal wrote: »

Has anyone on here ever received more than the online calculator quoted. I earn 49 k. Online they calculated I could borrow 200000 but i would need 220. Can I put max available on application or should I stick to what they quote me

Check with your local council. Some allow it, some don't. I asked mine (Clare) if I could write in "Max available" as others had mentioned they did that, but I was told to put in the amount the calculator said.

deise121

akelly02 wrote: »

hi lads

am i right in saying this particular avenue doesnt take children into account??

you're correct. this is literally the only reason why we'll be getting a mortgage

akelly02

deise121 wrote: »

you're correct. this is literally the only reason why we'll be getting a mortgage

id say its the same as a lot of people

like 2 kids would mean a lot less disposable income every month than 0 kids!

connie147

Hi there

I am helping my son prepare his application for a RI mortgage. he will be applying to Kerry Co,Co,

Does anyone on here have any experience in applying to Kerry Co.Co.? Any advice appreciated. As is will they accept online calculators from banks instead of actual letters, is it a slow process in Kerry etc etc.

Thanks in advance

Connie

NM2020

Hi,

That is correct, I was 3 weeks away from my AIP running out when I went sale agreed. As soon as I went sale agreed I contacted my local authority with the list of info they request on the AIP letter you would have received. And they said the clock stops there wishing you the best of luck with finding something in time!

optogirl

NM2020 wrote: »

Hi,

That is correct, I was 3 weeks away from my AIP running out when I went sale agreed. As soon as I went sale agreed I contacted my local authority with the list of info they request on the AIP letter you would have received. And they said the clock stops there wishing you the best of luck with finding something in time!

Thanks - does this include the engineers report? I'm just concerned that if that is delayed we will be too late

NM2020

optogirl wrote: »

We are in yet another bidding war and our AIP runs out in June -- if, in some fantasy world, we are the winning bidders & we send the info back to DCC, does the clock stop?

optogirl wrote: »

Thanks - does this include the engineers report? I'm just concerned that if that is delayed we will be too late

It may vary for different local authorities but I didn't have to get an engineers report at that stage. It was basically the address, house or apt, previously owned etc. kind of information that i had to give them when i went sale agreed. Oh and solicitor information so try have one ready to go! Once you provide this, the clock stops! Then they will send you a sale agreed pack which you have to complete. This includes a valuation report, up to date pay slip, salary cert etc.

rob316

Are they going to revise the limits? Its hard to get a 3 bed in cork now for under 320k

optogirl

rob316 wrote: »

Are they going to revise the limits? Its hard to get a 3 bed in cork now for under 320k

As my sister mentioned to me - they build 'affordable' houses at 450k asking and then award maximum 320k to people looking to buy :rolleyes:

deise121

akelly02 wrote: »

id say its the same as a lot of people

like 2 kids would mean a lot less disposable income every month than 0 kids!

But also supporting 2 kids with documented proof that you are able to afford them plus rent thats more than double the cost of a mortgage repayment should be enough to prove that you can afford to pay back a mortgage. I have friends who are single and lived in their mammy and daddy’s their entire lives get mortgage approvals from banks no bother. Surely someone who has a proven history of providing for a family and keeping them houses is less of a risk than someone who doesn’t have a history of that. We’re not just numbers on pieces of paper. Banks need to take that into consideration

deise121

rob316 wrote: »

Are they going to revise the limits? Its hard to get a 3 bed in cork now for under 320k

doubtful. if they do it probably won't be for another few years. we all know how slow the government is with things

Pretty.Odd.

Just looking at the application form for this and it asks for the address of the property? Can you change property after initial application? The way houses are selling around here at the moment any house I would be interested in will be sold by the time I get a decision.

Jafin

Pretty.Odd. wrote: »

Just looking at the application form for this and it asks for the address of the property? Can you change property after initial application? The way houses are selling around here at the moment any house I would be interested in will be sold by the time I get a decision.

Just write TBC. You can do the same for the solicitor part if you don't have a solicitor yet.

MariaJekiou

Does anyone know how much are the solicitor fees? Would you be required to pay any legal fees if you don't go past loan offer?
Also in regards to new builds do they still require a valuation done?

Thanks

NM2020

MariaJekiou wrote: »

Does anyone know how much are the solicitor fees? Would you be required to pay any legal fees if you don't go past loan offer?
Also in regards to new builds do they still require a valuation done?

Thanks

Hi, solicitor fees vary but you can get a quote from a few. I think they are usually around €3k then you will have stamp duty of 1% on top which will be included in your quote.

deise121

anyone know after approval and all that, do you have to resubmit all your banking and other statements from the time between you applied and were approved?

Jafin

deise121 wrote: »

anyone know after approval and all that, do you have to resubmit all your banking and other statements from the time between you applied and were approved?

You will most likely be asked for updated statements and payslips, yes.