Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Rebuilding Ireland home loan

Options
1…1617192122…164

Comments

  • Options
    #542
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    bubbles46 wrote: »
    About the same time as mine will be so. Turns out that I may only be granted an extra €15k from this scheme than what a bank could give me and id have the bank mortgage paid off a few yrs earlier!Not sure what to do now.

    Does anyone know how overpayments can be done or are they completely not allowed?


  • Options
    #543
    Darkglasses
    Moderators, Computer Games Moderators, Sports Moderators Posts: 14,526 Mod ✭✭✭✭Darkglasses


    autumnbelle wrote: »
    Does anyone know how overpayments can be done or are they completely not allowed?

    Currently you cannot do any overpayments if you've chosen a fixed rate. You can make early payments on the variable.


  • Options
    #544
    TheMilkyPirate
    Registered Users Posts: 5,963 ✭✭✭TheMilkyPirate


    Would the councils be more lenient than banks with regards to your ICB? By the time we apply my credit union loan will have been cleared in full and cleared early but there is missed payments on it that will show up on my ICB report. My partners ICB will be squeaky clean it's just mine with the missed payments I worry about. I know the bank won't touch us but just wondering if there will be any leeway with the council.


  • Options
    #545
    Viktoria99
    Registered Users Posts: 22 ✭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.


  • Options
    #546
    Viktoria99
    Registered Users Posts: 22 ✭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.


  • Advertisement
  • Options
    #547
    Skaterpeemp
    Registered Users Posts: 6 ✭Skaterpeemp


    Hi does anyone know if this scheme is open to people who previously owned a house but have gone through a PIA (Personal Insolvency Agreement) so no longer own it ( and never really did ). What is their definition of second time buyer?


  • Options
    #548
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    Skaterpeemp wrote: »
    Hi does anyone know if this scheme is open to people who previously owned a house but have gone through a PIA (Personal Insolvency Agreement) so no longer own it ( and never really did ). What is their definition of second time buyer?
    If you already owned a house you wont qualify


  • Options
    #549
    asdf85
    Registered Users Posts: 3 ✭asdf85


    Hi guys I'm in a similar position, have gone sale agreed on a property and just waiting on the survey to submit my form 3 and other documents but just had a few questions

    Has anyone had their mortgage declined at this stage and if so for what reasons?

    I didn't realize I'd have to submit my bank account statements again so was splashing the cash a bit so worried this will negatively impact the application, also a bit worried regarding the doctors letter, I take medication for anxiety which my GP referenced in the letter, would this impact on my ability to get mortgage? I've never been off work from it and is quite manageable but worried the council will take a hard line.

    All advice welcome and to hear about experiences of anyone who is at the same stage as me, so nervous and don't want to get my hopes up!


  • Options
    #550
    sandra dunne
    Registered Users Posts: 14 ✭sandra dunne


    Hi

    I am at the underwriters stage with Laois county council,

    I have a few questions if any one could help please

    What is the next step after underwriters ?
    Other than MPI do I need any other insurance ?
    Do I need to budget for any other hidden expenses ?
    Has any one being through this process with Laois CC if so how did you find then time wise etc ?


  • Options
    #551
    Jellapino15
    Registered Users Posts: 16 ✭Jellapino15


    I have a few questions for anyone who has been through the process for a new build.

    I was approved in June after an initial rejection and appeal, but had to get a 3month extension till December as the property I wanted (a new build) hadn't been released yet and my initial 3 months was almost up. I got an extension till December and was told after this I will have to resubmit a new RIHL application. Yesterday morning I put down my booking deposit on the house finally and am delighted! However my concerns now are around drawing down the mortgage.
    I know I will not be drawing it down till building is complete and house is ready but this could take 9-12 months as construction hasn't even begun. As this will be after December will there be an issue with having to reapply or will sending my receipt of deposit and the property details count as getting the process going? My solicitor said usually the bank would send out the loan pack next so she expects CC will work in the same way?

    What are the next steps? Has anyone been through the process with a new build? If you share your experience I'd be very grateful


  • Advertisement
  • Options
    #552
    Jellapino15
    Registered Users Posts: 16 ✭Jellapino15


    suemurray wrote: »
    Similar issue - different council - my solicitor had to physically go to the council office to speak with someone which helped speed things up eventually but the delay getting the legal pack out was frustrating - I was in different boat - I was buying new build so no major hurry - I hope u get sorted but please get your solicitor to keep on top of calling and ringing their (council) legal team that’s what they are paid to do - fingers crossed for u - I know how stressful whole thing is

    I paid booking deposit on a new build I've been chasing since nearly a year ago, finally released. I was told contracts will go out to solicitor next and must be signed within 21 days. I will be sending in form to council tomorrow with details of property and receipt of deposit. My solicitor said next step would be council sending loan pack. Will the possible delay with this loan pack effect my ability to buy if I need to sign contracts within the 21 days? I have no clue what the process is, people seem to have different experiences. Could you share your experience of the process please?
    I was so excited yesterday to have finally secured my house now I'm so anxious about getting the contracts signed and the mortgage locked in. The build is also going to take possibly 9 months and my approval is up in December with the CC so I'm anxious about this.


  • Options
    #553
    cork93
    Registered Users Posts: 35 ✭cork93


    Apologies if this question has been asked already but can anyone advise on the easiest way to get offers of insufficient funds please? Do any of the council's except the results of online calculators which basically indicate that the max funds available will be 3.5 times gross income.

    Seems like a waste of everyone's time going through a full mortgage application with a bank when all parties know the bank cannot give you the required amount.


  • Options
    #554
    millieb
    Registered Users Posts: 8 ✭millieb


    Hi all just been refused after a 3 month waiting period devastated ...Single self employed and asked for a loan of a mere 80 k but refused has anyone appealed successfully or do you think its just pot luck I have half the requested amount saved but they say that it is insufficient feeling very deflated anyone self employed single been successful ?


  • Options
    #555
    Darkglasses
    Moderators, Computer Games Moderators, Sports Moderators Posts: 14,526 Mod ✭✭✭✭Darkglasses


    millieb wrote: »
    Hi all just been refused after a 3 month waiting period devastated ...Single self employed and asked for a loan of a mere 80 k but refused has anyone appealed successfully or do you think its just pot luck I have half the requested amount saved but they say that it is insufficient feeling very deflated anyone self employed single been successful ?

    You don't have the 10% deposit? There's no point appealing if not, better to think about re applying when you do.


  • Options
    #556
    Cocobean1
    Registered Users Posts: 31 ✭Cocobean1


    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.

    Have you made anymore progress? We went sale agreed 3 weeks ago. Our solicitor is still waiting to hear from council's solicitor. When I spoke to the council they just said their solicitor is working on it and could not give a time frame as to when they will contact our solicitor.


  • Options
    #557
    millieb
    Registered Users Posts: 8 ✭millieb


    Darkglasses wrote: »
    You don't have the 10% deposit? There's no point appealing if not, better to think about re applying when you do.


    Sorry my post may be misleading I have 40 k deposit saved but this is insufficient according to letter of refusal I am only looking for 80 k


  • Options
    #558
    power pants
    Registered Users Posts: 2,907 ✭✭✭power pants


    millieb wrote: »
    Hi all just been refused after a 3 month waiting period devastated ...Single self employed and asked for a loan of a mere 80 k but refused has anyone appealed successfully or do you think its just pot luck I have half the requested amount saved but they say that it is insufficient feeling very deflated anyone self employed single been successful ?


    Ask them to check it again

    I got refused initially and told them to double check as their reason didn’t make sense

    Was error on their behalf


  • Options
    #559
    millieb
    Registered Users Posts: 8 ✭millieb


    power pants wrote: »
    Ask them to check it again

    I got refused initially and told them to double check as their reason didn’t make sense

    Was error on their behalf

    I am waiting on my Local TD to get back from the Dail when I rang and questioned the reasons the woman on the phone didn't know the answers just that she was only there 2 weeks now and all that she could say was appeal it when I asked to who& to give me a name to put pen to paper too she kept putting me on hold then when i asked why they where been so cloak and dagger that its not the CIA they are working for she gave me the name for such a small amount it seems petty


  • Options
    #560
    millieb
    Registered Users Posts: 8 ✭millieb


    power pants wrote: »
    Ask them to check it again

    I got refused initially and told them to double check as their reason didn’t make sense

    Was error on their behalf

    I wonder if refusal reasons are all the same ??


  • Options
    #561
    BKWDR
    Registered Users Posts: 2,172 ✭✭✭BKWDR


    millieb wrote: »
    I wonder if refusal reasons are all the same ??

    Maybe it's the Dublin in me... But where are you buying for 120k?

    I might be wrong but do you have to be refused by a bank? Would a bank not give you 80k?


  • Advertisement
  • Options
    #562
    millieb
    Registered Users Posts: 8 ✭millieb


    BKWDR wrote: »
    Maybe it's the Dublin in me... But where are you buying for 120k?

    I might be wrong but do you have to be refused by a bank? Would a bank not give you 80k?

    Hi because I am self employed and use my house for business the banks won't give you a mortgage for a house used as a business I am in Louth and I am not really looking too much at the house its the garden that interests me so that I can continue my business and expand I only need a 1 bedroom house nothing fancy the most I could get through the bank on a personal loan is 30 k but I paid off my loan in order to get approval and missed out on a property really annoying


  • Options
    #563
    power pants
    Registered Users Posts: 2,907 ✭✭✭power pants


    BKWDR wrote: »
    Maybe it's the Dublin in me... But where are you buying for 120k?

    I might be wrong but do you have to be refused by a bank? Would a bank not give you 80k?

    When I queried the refusal , the guy from rebuilding Ireland said he would run it past the underwriter again

    They rang next day to say was a mix up


  • Options
    #564
    millieb
    Registered Users Posts: 8 ✭millieb


    power pants wrote: »
    When I queried the refusal , the guy from rebuilding Ireland said he would run it past the underwriter again

    They rang next day to say was a mix up

    So happy for you fingers crossed my TD can help me yet again !!! I think the whole self employed and job description is really going against me :rolleyes:


  • Options
    #565
    Viktoria99
    Registered Users Posts: 22 ✭Viktoria99


    Cocobean1 wrote: »
    Have you made anymore progress? We went sale agreed 3 weeks ago. Our solicitor is still waiting to hear from council's solicitor. When I spoke to the council they just said their solicitor is working on it and could not give a time frame as to when they will contact our solicitor.

    Hi, I haven't heard from them yet. my solicitor is trying to contact fingal but they never answer their phone. I remember that on the final approval meeting they said it could take up to a month to get the legal pack sent to our solicitor.
    As reading from this thread it can take about 3 weeks. Hopefully earlier fingers crossed. Would be great to move to a new house before Christmas :(
    What County Council did you apply?


  • Options
    #566
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    Hi everybody,

    Can anybody tell me if they have dealt with Monaghan County Council and if so how have they gotten on?
    I was initially told I did not demonstrate the repayment capacity for my loan, even though I am applying for the amount shown on the website.
    They finally got back in touch to say my loan repayments and MPI could not be more than 30% of my net monthly income and I was to close to 30% at 29.97%.
    I currently am getting them to look at it again and waiting to hear back from the credit committee.

    Can anybody tell me what the rate of MPI is?

    Thanks


  • Options
    #567
    Viktoria99
    Registered Users Posts: 22 ✭Viktoria99


    Hello,

    any progress now? Did you receive the legal pack?


  • Options
    #568
    Viktoria99
    Registered Users Posts: 22 ✭Viktoria99


    stryker mcqueen wrote: »
    We've been sale agreed for a few weeks , submitted form 3 and updated docs awaiting contract being sent to our solicitor 3 weeks ago , so 3 weeks of limbo , chasing DCC with little response, still with their legal team apparently.

    All the while the vendor is pressuring us and threatening to pull out of the sale , I have to say I'm finding this part of the process much more stressful than the waiting for approval.

    Anyone who went with DCC give an indication how long this took?

    Thanks

    Hi! any progress now? Did you receive the legal pack?


  • Options
    #569
    RosyRose
    Registered Users Posts: 19 ✭RosyRose


    Lee3b wrote: »
    Mine is in 6 weeks but have been advised it will be longer than normal the underwriter is the quickest part apparently that the delay is caused by the councils as they don't hold any meetings in August and they have the final say

    Seems we are at the same boat. We submitted the documents on 3rd of July in Kildare coco, but it went to the underwriter at the end of August just because we have missed to add the amount that we are applying for and no one called us to ask that for 8 weeks.

    Did you got approval already? We put deposit on new build house on 15th of september, because on the meeting they told us we can expect the decision next week and it’s been a month already with no decision. The agency have sent the contract to the solicitor and we have 21 days to sign it in order to get the kitchen appliances. And by reading the posts here it seems this is just the beginning.


  • Options
    #570
    Lee3b
    Registered Users Posts: 42 ✭Lee3b


    Yes we are in the very same boat I have a holding deposit down on in kildare we are probably the same estate!!! My application came back and we sent the form in blank but they came back offering 40k less from wat we needed and I only found this out because I kept ringing . We are advised to send back another application with the figure we want and wait on that it's gone off another 3 weeks now and I emailed again today its still at underwriters. The estate agent is on to us constantly now threatening to pull our deposit. We haven't given solicitors details as of yet because of the contract has to be signed within 21 days of receiving it we will loose them. I don't even like the house we r going for sooo not worth the money but the ones we want across the road went up again ... did u have a meeting with the coco


  • Advertisement
  • Options
    #571
    RosyRose
    Registered Users Posts: 19 ✭RosyRose


    Lee3b wrote: »
    Yes we are in the very same boat I have a holding deposit down on in kildare we are probably the same estate!!! My application came back and we sent the form in blank but they came back offering 40k less from wat we needed and I only found this out because I kept ringing . We are advised to send back another application with the figure we want and wait on that it's gone off another 3 weeks now and I emailed again today its still at underwriters. The estate agent is on to us constantly now threatening to pull our deposit. We haven't given solicitors details as of yet because of the contract has to be signed within 21 days of receiving it we will loose them. I don't even like the house we r going for sooo not worth the money but the ones we want across the road went up again ... did u have a meeting with the coco

    We had a meeting on 12 th of September and they told us to expect the decision on the following week. This is why we were so confident to put deposit for the house. When I called them on 21st of September, they said 2-3 more weeks, nothing so far. When I try to call them it is a nightmare someone to pick the phone. I am pushing the solicitor now to find a way and put condition like “subject on mortgage approval”.

    We were approved from Dublin City coco and Finglas Coco for just 4 weeks and Kildare are already 8 weeks since we have the ref number and 16 since we submitted the documents.

    Can you pm me an email for Kildare if you have any, because I have just ph number?


Advertisement