Rebuilding Ireland home loan

raheny red

Hoping to get the keys Friday :eek::)

Jmk725

raheny red wrote: »

Hoping to get the keys Friday :eek::)

Congrats
Went sale agreed last week myself, how long did your council take to release the funds? If you don't mind me asking.

Pussyhands

Jmk725 wrote: »

Rebuilding Ireland should show more than the banks.
In my experience the banks are 2-3.5 times your income and Rebuilding Ireland should be closer to 5 times your income.

It does for the fixed but not for the variable.

Jmk725

Pussyhands wrote: »

It does for the fixed but not for the variable.

Ah right, I went for the fixed as it was too low for the variable.

Pussyhands

Jmk725 wrote: »

Ah right, I went for the fixed as it was too low for the variable.

You can't pay off lump sum with the fixed?

Jmk725

Pussyhands wrote: »

You can't pay off lump sum with the fixed?

You can pay it off but their may be a charge depending on how interest rates at the time.
I needed the greater amount that the fixed gave me over the variable.

Iknowbynow

If you get approved after applying, how long do you have to accept the offer? Nearly sure I read 6 months a while back on here but then saw someone else say 1 month.

For people that completed the process - in general how was it? Is the worst part getting all the required docs or?

Jmk725

Iknowbynow wrote: »

If you get approved after applying, how long do you have to accept the offer? Nearly sure I read 6 months a while back on here but then saw someone else say 1 month.

For people that completed the process - in general how was it? Is the worst part getting all the required docs or?

Monaghan County Council, the offer was good was 6 months.
I didn't have to accept it within a month. I accepted it 3 months after received offer. Only good for further 3 months though.

Tough getting all docs in and waiting on response.

raheny red

Jmk725 wrote: »

Congrats
Went sale agreed last week myself, how long did your council take to release the funds? If you don't mind me asking.

We went sale agreed in August but were delayed due to Probate. Waiting about 2 weeks to drawdown with Fingal.

raineas1

Would be interested in this also, were you able to get any figures?

delboy08

Hi all. This is just a bit of advice for people looking to apply. MAKE SURE YOU HAVE EVERYTHING there asking for on the list. DCC wont accept anything missing. I had to go back because my salary cert was not dated my start date on it. (i was just two years with my employer) So they do check all that. Iv my application gone in a week. DCC told me it will take 8 weeks to hear anything back. just wondering was anyone waiting 8 weeks (or longer) with DCC?

raineas1

Iknowbynow wrote: »

I've worked out how much of a difference I'd save by using this rather than a normal bank (if they would give me the same amount of course!). Would be interested to see the differences other people are getting. As in monthly payments / total interest paid. It's on my other pc but I'll try to update it here.

Would be interested in this also, were you able to get any figures?

upinsmoke

Can you claim the 5% back for your deposit from taxes using the help to buy scheme using this?

brianmax88

Any one know why they are limiting the size of the house to 175m2? Like if a bigger house can be bought or built for less than 250000 what difference does it make?

92841

raheny red wrote: »

We went sale agreed in August but were delayed due to Probate. Waiting about 2 weeks to drawdown with Fingal.

Because you went sale agreed last August, did you have to reapply again to your Coco if your mortgage approval went out of date?

raheny red

92841 wrote: »

Because you went sale agreed last August, did you have to reapply again to your Coco if your mortgage approval went out of date?

Nope, the 6 months started around November when it moved over to solicitors.

Jmk725

raheny red wrote: »

Nope, the 6 months started around November when it moved over to solicitors.

The 6 months for me started when I get approved and got the loan offer.

Graham

brianmax88 wrote: »

Any one know why they are limiting the size of the house to 175m2? Like if a bigger house can be bought or built for less than 250000 what difference does it make?

My guess, the scheme is designed to help people that otherwise wouldn't be able to afford a home. It's not designed to subsidise those that would prefer a larger home than they could otherwise afford/finance.

steve1099

Hi All,
Just thought I would inform everyone that Kildare Council have no funds left to grant. We applied to three councils at the end of October, heard back from Wicklow and South Dublin with approval after about 10 weeks, but nothing from Kildare. A couple of weeks ago we received a letter from them advising that the allocated funds have been used up for all rebuilding Ireland loans

Sorry to be the bearer of bad news, but just thought I would put it out there to help anyone thinking of applying to them.

Pussyhands

steve1099 wrote: »

Hi All,
Just thought I would inform everyone that Kildare Council have no funds left to grant. We applied to three councils at the end of October, heard back from Wicklow and South Dublin with approval after about 10 weeks, but nothing from Kildare. A couple of weeks ago we received a letter from them advising that the allocated funds have been used up for all rebuilding Ireland loans

Sorry to be the bearer of bad news, but just thought I would put it out there to help anyone thinking of applying to them.

For ever?

steve1099

The wording in the letter sounded very much like those were the final funds used up.
I'm not sure if they will get new funding but you never know.
I'll post the exact wording on this thread later today. You think they would post a message on their site to inform everyone, but obviously they would rather have folks wasting vast amounts of time and not to mention paper print outs then provide us with a simple update!

navan21

Hi all. Totally new to this and apologise my questions are silly!!
I really hope someone can help Me!
Has anyone gotten approved for a this loan for self build? I would love if you could answer a few questions or pm me of you prefer please.

Also just in general...
Does anyone know if FIS (Working family payment now) is taken into account in earnings?

With the help to buy... we have half our deposit saved. Can we apply on the presumption that we would get the other half through help to buy?I'm really confused on how you that works?

As regards saving each month is there a certain amount youd need to be saving per month that they look for?

Regards the self build can you apply without planning permission? Can site be used as part of deposit?

Thank you very much, really appreciate any replies.

delkel38

navan21 wrote: »

Hi all. Totally new to this and apologise my questions are silly!!
I really hope someone can help Me!
Has anyone gotten approved for a this loan for self build? I would love if you could answer a few questions or pm me of you prefer please.

Also just in general...
Does anyone know if FIS (Working family payment now) is taken into account in earnings?

With the help to buy... we have half our deposit saved. Can we apply on the presumption that we would get the other half through help to buy?I'm really confused on how you that works?

As regards saving each month is there a certain amount youd need to be saving per month that they look for?

Regards the self build can you apply without planning permission? Can site be used as part of deposit?

Thank you very much, really appreciate any replies.

I've been approved for a self build by offaly coco. Still waiting for the slow wheels to turn there and give me the contract to sign. Too much to say if you search this thread it's all there. I'm not going to repost all I said.

raheny red

We got our keys on Friday - Fingal were great to deal with. The only negative being issued a cheque for the drawdown instead of a bank transfer.

Just a small bit of advice. Have everything in order for when you're applying. When you have applied put the application to the back of your mind. 10/12 weeks isn't a long time but you can make it feel like a lifetime by worrying about it everyday. While you're waiting start looking where you want to buy. Also, get the ball rolling on your solicitor and surveyor. This will save you time after you've being accepted.

Best of luck folks.

Quinnciara

raheny red wrote: »

We got our keys on Friday - Fingal were great to deal with. The only negative being issued a cheque for the drawdown instead of a bank transfer.

Just a small bit of advice. Have everything in order for when you're applying. When you have applied put the application to the back of your mind. 10/12 weeks isn't a long time but you can make it feel like a lifetime by worrying about it everyday. While you're waiting start looking where you want to buy. Also, get the ball rolling on your solicitor and surveyor. This will save you time after you've being accepted.

Best of luck folks.

Congrats, what a relief you must feel. I've just gone sale agreed and have my survey and valuation this week coming hoping to have every thing handed over back to the council within 2 weeks. Can I ask how long from the time you handed back in your documents before you drew down?

raheny red

Quinnciara wrote: »

Congrats, what a relief you must feel. I've just gone sale agreed and have my survey and valuation this week coming hoping to have every thing handed over back to the council within 2 weeks. Can I ask how long from the time you handed back in your documents before you drew down?

Thanks, yeah a massive relief all right. Happy days, you're flying along. The final stages for us are a bit skewed because the seller had to go through probate so that delayed us.

The Red Lantern

Can anyone tell me if you have to apply for an extension to the loan if in the process of buying the house? Our solicitor has been sent the pack and the loan doesn't expire until April but we're wondering if we have to apply for an extension if the process isn't complete

Theodora78

Hello , could someone tell me if the first applicant was on jobseekers benefit for 4 months in the last 2 years is still entitled to apply for rebuilding ireland? Thanks a lot!

Darkglasses

The Red Lantern wrote: »

Can anyone tell me if you have to apply for an extension to the loan if in the process of buying the house? Our solicitor has been sent the pack and the loan doesn't expire until April but we're wondering if we have to apply for an extension if the process isn't complete

Sounds like something that would be up to the Council's own department.

Theodora78 wrote: »

Hello , could someone tell me if the first applicant was on jobseekers benefit for 4 months in the last 2 years is still entitled to apply for rebuilding ireland? Thanks a lot!

The first applicant needs to be working continuously for the last two years.

trudy2222

Just sent off our application today, such a relief! I know we have a long journey ahead but it nice to get the ball rolling.