Rebuilding Ireland home loan

Interest rates went up a few weeks ago reducing what people can borrow.

It does affect borrowing amounts.

You are talking about banks, this thread is only for the LAHL.

Thats crazy that it affects the borrowing amounts. Where did you hear that?

I can get 200k with the bank or 225k with the RIHL. It used to be 250k, almost pointless waiting for RIHL at this stage.

Thank for the reply. I also seem to be at 4.5 times my income as well. I heard before of people getting as much as 5.2 times their income (few years ago in this thread) which was more than what the calculator said so hopefully they will still do something simiiar.

boi and ptsv have online calculators you can print.

You can also get approval in principle from AIB online, well at least you could up until last year without too much effort.

Anyone know if there are restrictions on if/when you can sell you house? Not that that is in the plan but good to know if something came up. I felt like I read 5 year but I can deem to find any info online now

Hey all,

Hoping to apply for this in the Laois area. I'm working full time in the same job since 2021 and my wife is on long term disability and receives carers allowance, we have 2 children 14 and 6. I understand that the council will consider some form of social welfare payments as long as one income is from full time work, would be really curious if anyone with a similar situation has applied and how you got on.

Also a question on savings. We have been saving for this for the past 2 years and finally ready to apply. We save 2k per month and have done for approx 18 months, looking through the statements in addition to this we also on 2 occasions put a small bit extra in within the last 12 months, and last march also paid in 2500. I previously read that we should be saving the exact same amount every month. Does anyone who has applied successfully have any experience with this that can clarify?

Any information would be greatly appreciated!

They won’t consider the extra amounts, they’ll stick with the regular figure.

Prepare for the long haul, my approval took 12 weeks.

Biggest sticking point for me was my credit card usage, they just prefer if you don’t use it at all.

It was only my recent credit card statement they were concerned with.

I still got approved but €4K less than the calculator with a balance of around €400, I was told to keep the balance at €0.

Hi, 2 years ago myself and my partner had bought a property using the Local Authority Home loan. 
my question is can we sell the property? Is there any penalties? Has anyone tried selling after buying using Local Authority Home Loan from the county council. 


Thanks 

A warning to all - my husband passed suddenly last Summer and the insurance company are refusing to pay out on the mortgage because they 'deem it likely' that it may have been intentional. It was not, it was an accident however I cannot prove that and am now stuck paying a mortgage for the rest of my life on my own. Even if it was intentional, it really makes me so upset that I am to be punished for that.

Are there any restrictions on renting out the property after a few years?