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Rebuilding Ireland home loan

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    #1052
    DLady
    Registered Users Posts: 9 ✭DLady


    Hi All,

    I applied to 3 coco's back in September. I got an approval from Dublin Coco and Fingal Coco few weeks later, but never heard a word from Kildare Coco since. I know they ran out of funds, but did anyone got an approval that applied after the 25th of September?

    I called to Kildare in December and a guy told me that my application is waiting to go in for the final approval this or next week. I called again in January and after the 100th time of trying I finally got through and a lady said that they ran out of funds in October. It's interesting that the guy I spoke to in December wasn't aware of this.

    I've been trying to call them for over a month now, I've left voicemails, sent emails, but I have not been able to speak to anyone in the department responsible for the Rebuild Ireland Home Loan (I have to say that the people in the reception are very nice though). It's very frustrating that they have such a poor communication with the applicants.

    I believe that my circumstances might change soon and then I would be outside the threshold and I've gotten mixed messages about if I would still be entitled to get the mortgage. Has anyone had an experience that their wages go slightly over the threshold (after receiving the approval) while looking for the house and were still able to get the loan? Even with the wages slightly over the threshold you are still not able to get even close to the amount from the bank what the councils are giving.


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    #1053
    GaGa21
    Registered Users Posts: 652 ✭✭✭GaGa21


    DLady wrote:
    I believe that my circumstances might change soon and then I would be outside the threshold and I've gotten mixed messages about if I would still be entitled to get the mortgage. Has anyone had an experience that their wages go slightly over the threshold (after receiving the approval) while looking for the house and were still able to get the loan? Even with the wages slightly over the threshold you are still not able to get even close to the amount from the bank what the councils are giving.


    I know that with the offer letter you are asked to submit payslips and bank statements since application so it could be an issue for them being over the threshold.
    If I were you I'd forget about Kildare, go with one CoCo offer and buy before your circumstances change.


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    #1054
    Louise1994
    Registered Users Posts: 1 ✭Louise1994


    Hi All, I am wondering if anyone has applied for the RIHL and didn't need the full amount offered, are you able to reduce the amount? for example if you are offered 288K mortgage but only need a 245K mortgage?


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    #1055
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    Louise1994 wrote: »
    Hi All, I am wondering if anyone has applied for the RIHL and didn't need the full amount offered, are you able to reduce the amount? for example if you are offered 288K mortgage but only need a 245K mortgage?

    Yes, after all they will only give you 90% of the value of the house.
    For Example:
    Mortgage of 200k.
    House cost 200k then you will only get a 180k mortgage.

    Hope this helps.


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    #1056
    [Deleted User]
    Posts: 7,499 ✭✭✭ [Deleted User]


    DLady wrote: »
    Hi All,


    I've been trying to call them for over a month now, I've left voicemails, sent emails, but I have not been able to speak to anyone in the department responsible for the Rebuild Ireland Home Loan (I have to say that the people in the reception are very nice though). It's very frustrating that they have such a poor communication with the applicants.


    Kildare CoCo are an absolute joke.
    I went down in person and asked to speak with someone and was told
    "they don't answer the phones up there".
    queued for 40mins in the housing department (another joke,no ticket system free for all) to be told that no one could see me.


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    #1057
    DanyTargaryen
    Registered Users Posts: 29 ✭DanyTargaryen


    SozBbz wrote: »
    Sorry if I'm getting confused but is the whole point of you wishing to go with Rebuilding Ireland to obtain a higher loan amount that is available to bank customers, ie going beyond the salary multiples?

    I'd thought these schemes were about people in insecure employment or with a checkerd credit history being able to get a loan to the same value as the rest of us, not a means of breaching the salary multiple/exemptions?


    The eligibility requirements for RI state that you have to have been in continuous employment for 2 years and you must also be in good financial standing and undergo a credit check.

    So from what i can gather, giving a better interest rate and loan option is exactly what RI is attempting to do. You also need to have your whole deposit saved up before applying.


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    #1058
    DanyTargaryen
    Registered Users Posts: 29 ✭DanyTargaryen


    Just a quick update: I got my two letters from BOI and AIB. BOI gave it to me over the phone and it doesn't state the amount, just that I'm ineligible. AIB gave it after I completed a paper application and then sent it back to them along with a payslip. The AIB does state the amount.

    I got my whole application submitted on Monday. I did it in person and the woman in the office went through everything I handed in and didn't find anything amiss so hopefully it's a yes! I was allowed to leave the details of the property being bought blank but I did have to specify a loam amount, I went with the highest option the online calculator gave me.

    She said it would take 4-6 weeks to hear back and that I'd be notified sooner if they need any more documentation.

    I'll post when I'm approved/declined.

    Good luck to everyone else with there applications!!


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    #1059
    3283winnie
    Registered Users Posts: 82 ✭✭3283winnie


    Best of luck 🙏 im still running around getting paper work sorted so hoping il be all sorted and ready to apply soon i also am going to apply for what the max of the online calculator hoping that is the full amount im allowed 🙏


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    #1060
    DLady
    Registered Users Posts: 9 ✭DLady


    GaGa21 wrote: »
    I know that with the offer letter you are asked to submit payslips and bank statements since application so it could be an issue for them being over the threshold.
    If I were you I'd forget about Kildare, go with one CoCo offer and buy before your circumstances change.

    Thanks GaGa21!

    Yes, I'm looking in both Dublin and Fingal, even though Kildare was my first choice because the house prices are slightly lower and the train would have been handy for me.


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    #1061
    GaGa21
    Registered Users Posts: 652 ✭✭✭GaGa21


    DLady wrote:
    Yes, I'm looking in both Dublin and Fingal, even though Kildare was my first choice because the house prices are slightly lower and the train would have been handy for me.

    Yes Kildare would probably be the ideal pricewise but going by what people saying on here, they seem to be not lending anymore. Fingers crossed you find something in your budget!


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    #1062
    Darkglasses
    Moderators, Computer Games Moderators, Sports Moderators Posts: 14,526 Mod ✭✭✭✭Darkglasses


    BrownFinger wrote: »
    Kildare CoCo are an absolute joke.
    I went down in person and asked to speak with someone and was told
    "they don't answer the phones up there".
    queued for 40mins in the housing department (another joke,no ticket system free for all) to be told that no one could see me.

    This seems insane. I know you shouldn't need to, but could you ask a councillor to come in with you to facilitate the process?


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    #1063
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,765 Mod ✭✭✭✭L1011


    Darkglasses wrote: »
    This seems insane. I know you shouldn't need to, but could you ask a councillor to come in with you to facilitate the process?

    A: This wouldn't be in a councillors remit.
    B: They are not known to care much about people who aren't yet able to vote for them anyway.
    C: If there's no money, there's no money!


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    #1064
    Darkglasses
    Moderators, Computer Games Moderators, Sports Moderators Posts: 14,526 Mod ✭✭✭✭Darkglasses


    L1011 wrote: »
    A: This wouldn't be in a councillors remit.
    B: They are not known to care much about people who aren't yet able to vote for them anyway.
    C: If there's no money, there's no money!

    A: Sure it is, happens in Wexford all the time.
    B: I'd still ask. It's their job.
    C: Every other county council is able to leverage money, why can't Kildare? The statistics from the department don't show that they are paying out as much as other County Councils. Plus is waiting 40 minutes to be told nobody will speak to you acceptable on any level?


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    #1065
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,765 Mod ✭✭✭✭L1011


    A council letting councillors interfere outside their remit is an abbaration, not a good thing.

    If the council hasn't got the cash, someone asking why isn't going to make it appear. They permanent staff of KCC are very, very bad at getting central funding for anything as anyone who has suffered with their near non existent services will know.

    Expecting a different answer by asking differently is pointless


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    #1066
    Shamboo1801
    Registered Users Posts: 105 ✭✭Shamboo1801


    L1011 wrote:
    A: This wouldn't be in a councillors remit. B: They are not known to care much about people who aren't yet able to vote for them anyway. C: If there's no money, there's no money!

    I had a local councillor take me every step of the process. If anything needed to be amended, he'd contact me straight away informing me of what was needed. He was a great help every step of the way. We're in our own house no doubt thanks to him.


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    #1067
    Darkglasses
    Moderators, Computer Games Moderators, Sports Moderators Posts: 14,526 Mod ✭✭✭✭Darkglasses


    L1011 wrote: »
    A council letting councillors interfere outside their remit is an abbaration, not a good thing.

    If the council hasn't got the cash, someone asking why isn't going to make it appear. They permanent staff of KCC are very, very bad at getting central funding for anything as anyone who has suffered with their near non existent services will know.

    Expecting a different answer by asking differently is pointless

    Is it an aberration for a councillor to inquire on someone's behalf who is in charge of the loans scheme, and whether the applicant can meet them? Because Kildare are failing at this.

    I think asking why is definitely a question that should be raised at a meeting of Kildare County Council. The Kildare Coco housing director is of course answerable to the councillors. Every other council has been able to get funds from the HFA, there is no reason on earth why Kildare shouldn't be able to get more. If you wanted to go further, I know imagine Minister Eoghan Murphy would be very keen to know why Kildare are sitting on their hands when there is 100 million euro available and not yet drawn down.

    To be honest I'm baffled by your defeatist attitude. In some counties, this scheme is working extremely well and money is being issued on a constant basis. In some counties, none is being given. That is almost entirely down to the failings of the Council in question. See the statistics on the department website for the disparity between counties.


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    #1068
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    L1011 and Darkglasses, I think you're both right.

    Asking a councillor with the expectation that he might be able to pull a few strings for you is hopefully a thing of the distant past.

    Asking a councillor to address the issue of lack of funding (particularly if such funding is available from central government) would/should be well within their remit.

    Go and see your TD too. Not to ask if he can do you any favours to help you out. More to see if he/she will raise the issue (of funds being exhausted) with the relevant minister.


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    #1069
    [Deleted User]
    Posts: 7,499 ✭✭✭ [Deleted User]


    His is from Eoin Murphys office
    8th of feb

    The Department of Housing, Planning and Local Government is currently in discussions with the Departments of Public Expenditure and Reform and Finance with regard to an extension of the scheme in this regard. When these discussions are concluded, the Department will be in a position to make an announcement on the matter.



    Yours sincerely,


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    #1070
    Shanvp
    Closed Accounts Posts: 17 ✭Shanvp


    Hey guys, we are going to hand in our application form on Monday to the Fingal co. Council office, instead of posting it. Does anyone know if you need to make an appointment or is it just a walk-in?


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    #1071
    trudy2222
    Closed Accounts Posts: 55 ✭✭trudy2222


    Shanvp wrote: »
    Hey guys, we are going to hand in our application form on Monday to the Fingal co. Council office, instead of posting it. Does anyone know if you need to make an appointment or is it just a walk-in?

    We handed ours in on Monday and just walked in. Best of luck!

    Dublin city council is a different story though, you need an appointment with them!


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    #1072
    delboy08
    Registered Users Posts: 13 ✭delboy08


    Agree with everything you said there. But in relation to the deposit (I went with DCC) I have more than half of the deposit and the rest I'm lucky enough to get of our parents as a gift. So I had to have a letter stating this. If you are luck to get a gift you have to have a hand written letter from who ever is giving it to you. But you have to have more than 70% of the deposit saved yourself (which I have) and proof of it.... ie savings.
    DCC told me iv to wait 8 weeks to hear back. but I think he just said that to me. I'm in week 2.... its dragging in!!! Anyone else have to wait long on DCC?
    good luck everyone.


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    #1073
    3283winnie
    Registered Users Posts: 82 ✭✭3283winnie


    Can i ask how much you need saved yourself like you i am being gifted a large some of money from my parents is it 30% you need saved yourself and 70% can be gifted �� thanks


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    #1074
    jesso22
    Registered Users Posts: 54 ✭✭jesso22


    It was estimated we'd get our keys tomorrow, but alas Laois Co Co. hasn't drawn down the mortgage yet. The ONE person in charge of funding is on holidays 😑


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    #1075
    Darkglasses
    Moderators, Computer Games Moderators, Sports Moderators Posts: 14,526 Mod ✭✭✭✭Darkglasses


    jesso22 wrote: »
    It was estimated we'd get our keys tomorrow, but alas Laois Co Co. hasn't drawn down the mortgage yet. The ONE person in charge of funding is on holidays ��

    One of the realistic costs of borrowing from something other than a bank/building society. The repayments are much cheaper but the number of staff available to run the programme are always going to be tiny.


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    #1076
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    Already got mortgage approved, finally gone sale agreed on a house and dropped up to date bank statements, payslip, valuation report, structural report, letter from employer and GP confirming not been sick for last 2 years, DD mandate form, Form 3 and Draft Family Home Declaration form with Monaghan County Council yesterday.

    I wonder how long they will take to send details to my solicitor???


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    #1077
    jesso22
    Registered Users Posts: 54 ✭✭jesso22


    Jmk725 wrote: »
    Already got mortgage approved, finally gone sale agreed on a house and dropped up to date bank statements, payslip, valuation report, structural report, letter from employer and GP confirming not been sick for last 2 years, DD mandate form, Form 3 and Draft Family Home Declaration form with Monaghan County Council yesterday.

    I wonder how long they will take to send details to my solicitor???

    No matter how efficient you are, be prepared for this whole thing to take about 4 months. We were right on top of everything, yet here we still are, waiting on keys


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    #1078
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    jesso22 wrote: »
    No matter how efficient you are, be prepared for this whole thing to take about 4 months. We were right on top of everything, yet here we still are, waiting on keys

    Where you waiting on the council or the seller?
    Our seller is sale agreed on another property so they are in a hurry to move out too.


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    #1079
    jesso22
    Registered Users Posts: 54 ✭✭jesso22


    Jmk725 wrote: »
    Where you waiting on the council or the seller?
    Our seller is sale agreed on another property so they are in a hurry to move out too.

    It's the solicitors work that takes the longest, as it's going back and forth between the two solicitors and the council. We are waiting on the council to send the money at this stage, the last piece of the jigsaw, but the person who authorises funding is on holidays. So don't know when they will be back, then it will take up to 5 working days for the transfer. We were hoping to have our keys today. Solicitor already gave us a pushed out date on account of the council being slow. It's frustrating, but had it in the back of my kind that today wouldn't be the day


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    #1080
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    You would really think they would have a second person who could organise the funding, makes no sense to only have one person who can do it, what if they go out sick for weeks, does no-one get paid then???

    Hopefully things won't take too long for you Jesso22.

    I'm hoping to be within 3 months, anything before that is a bonus.


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    #1081
    bubbles46
    Registered Users Posts: 34 ✭bubbles46


    Jmk725 wrote: »
    Already got mortgage approved, finally gone sale agreed on a house and dropped up to date bank statements, payslip, valuation report, structural report, letter from employer and GP confirming not been sick for last 2 years, DD mandate form, Form 3 and Draft Family Home Declaration form with Monaghan County Council yesterday.

    I wonder how long they will take to send details to my solicitor???
    I went sale agreed on Feb 1st(Limerick coco),in these 3 wks ive had my valuation report done+sent in my up to date bank statements,payslips etc and now waiting on engineer to call to the house nxt week to do his report. I was hoping there wouldnt be too much paperwork after that but it looks like you've submitted loads more. Can i ask what the letter from your employer has to say?And with regards to a GP letter,is that a serious illness?I assume if you went to a GP in the last 2 yrs for minor things,that wont be an issue? Also how long ago did you go Sale Agreed?Thanks.


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