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Rebuilding Ireland home loan

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  • Registered Users Posts: 300 ✭✭waterfordgirl


    Given how inefficient they all seem to be, i'd dxpect its a new application you'd need. Worth a call though in case theres an easier route. Please let us know how you get on.



  • Registered Users Posts: 1 JCLK2022


    Hi, just wondering has anyone had to pay county council legal fees with Limerick county Council?



  • Registered Users Posts: 39 Frostynight


    Hi all, I was wondering what how bad the penalty is for paying off a lump sum into the mortgage would be? I've seen the maths on the website but it's a bit confusing. Can anyone get their head around it?



  • Registered Users Posts: 663 ✭✭✭shawki


    Looks like how much you can borrow has gone up, Looking at the calculator I can borrow an extra €15K now.



  • Registered Users Posts: 1 Homebuyer2023


    Hi All, just looking for some advice as I'm planning on applying in the 2nd half of this year.

    I have about 8k saved up over the last couple of years and I've now received a promotion in work which has really increased my salary.

    I'm planning to have the rest of my deposit saved in the next 6-9months and will also be receiving a small amount from my parents to help. Does the 12months previous savings need to have been similar every month? I'm worried that my application could be rejected based on the fact that my deposit has mainly been saved just this year.



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  • Registered Users Posts: 1,151 ✭✭✭herbalplants


    Absolutely no, you can save it whenever suits you. Good luck!

    Living the life



  • Registered Users Posts: 234 ✭✭breakfasttime


    A heads up anyone curious on this - it is a new application for another assessment.


    Similar thing for me - approved based on previous rate but have to apply again for increases lending rate.



  • Registered Users Posts: 20,631 ✭✭✭✭yourdeadwright


    Quick question

    I know with the rebuilding Ireland home loan you can borrow no more than 288 Thousand, but is there a cap on the price of the property you can buy ,

    For example Just say you had 150 grand inheritance in the bank , can you add that to the 288 thousand ?



  • Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,060 Mod ✭✭✭✭AlmightyCushion


    Yeah the max house price is:

    • €320,000 in the counties of Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow, and
    • €250,000 in the rest of the country.




  • Registered Users Posts: 2,975 ✭✭✭optogirl


    I'm afraid not - asked this myself several times hoping for a different answer but RIHL will only lend 90% of the value of the property up to the maximum (288) so you can't top up unfortunately. The maximum you can bid on a house is 320k



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  • Registered Users Posts: 20,631 ✭✭✭✭yourdeadwright


    The really limits options in Dublin ,

    Can you even get a new build 3 bed for 320 K ?



  • Registered Users Posts: 3,133 ✭✭✭akelly02


    Quick question.


    Would the councils be more lenient in terms of credit history in comparison to main banks?



  • Registered Users Posts: 2,975 ✭✭✭optogirl


    No - but what we ended up doing was buying a doer upper. Still not done but we are in so main renovation work is done. It needed roughly 60k of investment to make it habitable so you might be able to think about it in those terms. If you can buy a kip for 320 and use your additional funds to do it up?



  • Registered Users Posts: 20,631 ✭✭✭✭yourdeadwright




  • Registered Users Posts: 17,997 ✭✭✭✭rob316


    If you have 150k cash wouldn't you be better going to a bank and getting 4x LTV, right now the mortgage will be cheaper and you can buy your own mortgage protection.



  • Registered Users Posts: 2,975 ✭✭✭optogirl


    No - it can be any house for the RIHL. I think the Revenue incentive is for new builds



  • Registered Users Posts: 20,631 ✭✭✭✭yourdeadwright


    Oh i'm just being inquisitive, its a made up sum ,I'm not in the market to buy right now nor a first time buyer, i



  • Registered Users Posts: 234 ✭✭breakfasttime


    How did this go in the end? Did you have to start a new application?



  • Registered Users Posts: 241 ✭✭user115


    Hi, I am thinking of applying for RBHL as a single person with Dublin City Council and Dun Laoghaire Rathdown and I had a few questions if anyone would like to share their experience of applying and getting the loan I'd love to hear it :)

    • how have people found both Council's to deal with?
    • do I need to supply my revolut statements? I use a regular bank for my salary and a few direct debits but I put all my daily exps through revolut so in my regular bank there are lots of transfers to revolut. To save time should I just put in statements for both accounts?
    • I plan on applying for the max mortgage amount of 288k, and I will make up the 32k deposit -I have 25k saved and will get the remained 7k as a gift do I need to prove that I have that 7k in my account to get offered the full 288k or will they take my word for it?
    • What happens after I get approved? Do I make offers on houses then and if an offer is accepted what happens then do I have more dealing with the council and are they good for getting back to you on time?
    • Does the increase in interest rates at the moment increase rebuilding irl loan repayment and if so by how much?

    Thanks in advance for any advice you might have :)



  • Registered Users Posts: 1 irishvolume


    Hi Folk,

    Has anyone on here any experience of doing a self build by direct labour with council loan? Part of the requirement is getting latent defect insurance. Any company I contact say this is only issued in the case of a contractor doing the build. Council will not accept this and can offer no help or guidance. I know of others who have the same issue at present. This is the only thing holding up starting the build. Any help appreciated!

    Thanks in advance



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  • Registered Users Posts: 2,172 ✭✭✭BKWDR


    From March 1st the caps will be raised for the LA Home Loan, in dublin to 360k.



  • Registered Users Posts: 847 ✭✭✭WoolyJumper


    Just applied for this through the Cork City Council. Already lost hope reading through the last few pages. Sounds like its a long process and unless your savings are absolutely impeccable its a no go. I recently withdrew 1000 from my savings to give a loan to a family memeber. Looks like that could cause a big issue in my savings record.

    I am a single applicant with an income of 35k per year so realistically I'd never get a mortgage large enough to buy anything livable from a traditional bank.



  • Registered Users Posts: 569 ✭✭✭Len_007


    According to the website, an eligible applicant must "be in continuous employment for a minimum of two years as the primary earner".

    This has to be a recent change though right? I'm pretty sure it was just one year a few weeks ago...



  • Registered Users Posts: 2,571 ✭✭✭raheny red


    I'm sure I know the answer to this but I'll ask just incase I can save ourselves a few bob.

    I got a Fingal mortgage back in early 2019. Has anyone managed to change to a different MPI broker or are we stuck with the same one for the duration of the mortgage? TIA.



  • Registered Users Posts: 159 ✭✭redmond08


    Just wondering has anyone moved home after getting the RBHL? What's the breakage fee & was there any problems with the council?



  • Registered Users Posts: 663 ✭✭✭shawki


    Can you hand in the application anytime or do you need to have an appointment?



  • Registered Users Posts: 300 ✭✭waterfordgirl


    I posted mine



  • Registered Users Posts: 234 ✭✭breakfasttime


    I sent mine by registered post, no need for an appointment



  • Registered Users Posts: 10 Rebel90


    Any fear these fixed rates will rise again soon?



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  • Registered Users Posts: 41 Floricwil


    I'm also interested in finding this out. I got a mortgage from Fingal at the end of 2018 and I would love to switch to my own MPI. The cost with them is huge.



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