Rebuilding Ireland home loan

Darkglasses · 01-11-2018 11:00pm

VW08 wrote: »

Don’t they do stage payments during the build?

They do for self-builds - but I am guessing this is a property being bought from plans rather than a self-build?

Jellapino15 · 02-11-2018 12:51am

Darkglasses wrote: »

They do for self-builds - but I am guessing this is a property being bought from plans rather than a self-build?

Yes exactly it is bought from plans, sorry should have specified

B250 · 03-11-2018 10:51pm

Hi just wondering does anyone know if its a good idea to put down a booking deposit on a house before i submit my application? I meet all the criteria required.

Darkglasses · 03-11-2018 11:56pm

B250 wrote: »

Hi just wondering does anyone know if its a good idea to put down a booking deposit on a house before i submit my application? I meet all the criteria required.

Not really. The decision time, even for straight forward applications, is very long for that (6 weeks minimum). Also, with no disrespect, a lot of people who think they have fairly straightforward applications have issues they did not foresee

B250 · 04-11-2018 12:00am

Ok thanks for the heads up, iv more or less sale agreed on a property and i am 90% sure i will have no issues with the application..at least the booking deposit is 100% refundable so if i do get refused i can get it back and apply again maybe..

Darkglasses · 04-11-2018 10:31am

B250 wrote: »

Ok thanks for the heads up, iv more or less sale agreed on a property and i am 90% sure i will have no issues with the application..at least the booking deposit is 100% refundable so if i do get refused i can get it back and apply again maybe..

Sure, just don't get your hopes too high with that property specifically, as the wait time may be too much for the EA and vendors

bubbles46 · 04-11-2018 4:37pm

Darkglasses wrote: »

Not really. The decision time, even for straight forward applications, is very long for that (6 weeks minimum). Also, with no disrespect, a lot of people who think they have fairly straightforward applications have issues they did not foresee

Definitely not. I submitted my application mid-July.....Still no word,its only now with the underwriters. Doubt ill even hear back before Xmas.

bubbles46 · 04-11-2018 4:40pm

I submitted my application mid-July and its only now with the underwriters and my co-co credit committee meets only once a month so I dont think ill even hear back before Christmas.
I feel like mine is the longest of everyones on this forum. Im so frustrated.

Sukie · 05-11-2018 1:15pm

Applied in June... received one missed call (generic council number) with no message a couple of weeks after. Phoned back and SDCC confirmed they had everything they needed. Never heard from them again.

Tazzie2011 · 05-11-2018 1:45pm

Just wondering if anyone has had any experience with Kildare County Council?

adraigh · 05-11-2018 9:57pm

Hi there,

GENERAL QUERY RE: INCOME THRESHOLD - any help would be greatly appreciated !

I would love to apply for this scheme as a single applicant, however I earn 900 euro a year (gross) over the income limit of 50k for a single applicant. I work in the civil service.

Is there any point applying for this scheme as I am slightly over the income threshold?

I was advised that if I worked in a private company, there may be ways of deferring part of your salary till after your application is done etc.
However, this would be very unlikely in a civil service job.

Any advice?

Thank you. Sorry if this is a stupid question.

SNNUS · 05-11-2018 9:59pm

You are over the limit, it is strictly 50k..

adraigh · 05-11-2018 10:10pm

Thanks for that. Appreciate the reply.

I read earlier in the thread that they use the previous year's P60.
I earned less than 50k gross in 2017 and therefore the P60 indicates that.

Assume they'd still see my income coming into my bank account now and work out that I earn over 50k now?

Just want to be 100% on this

power pants · 06-11-2018 8:16am

adraigh wrote: »

Thanks for that. Appreciate the reply.

I read earlier in the thread that they use the previous year's P60.
I earned less than 50k gross in 2017 and therefore the P60 indicates that.

Assume they'd still see my income coming into my bank account now and work out that I earn over 50k now?

Just want to be 100% on this

Just apply and find out, I’d rather complete the form and know the answer than speculate

Jellapino15 · 06-11-2018 6:28pm

Anyone notice how all the newspaper articles regarding the RIHL talk about what a failure it is? Yet plenty of people on here who it seems to be working for? 134 loans drawn down may seem little but that's 134 people who have might have never owned their own house and this scheme is an answer to their prayers.

Almost like the government want it to be a failure to they can scrap it or not extend. It is literally my only chance to ever be a home owner so here's hoping this doesn't happen

Darkglasses · 06-11-2018 7:20pm

Jellapino15 wrote: »

Anyone notice how all the newspaper articles regarding the RIHL talk about what a failure it is? Yet plenty of people on here who it seems to be working for? 134 loans drawn down may seem little but that's 134 people who have might have never owned their own house and this scheme is an answer to their prayers.

Almost like the government want it to be a failure to they can scrap it or not extend. It is literally my only chance to ever be a home owner so here's hoping this doesn't happen

I agree it's unfair to call it a failure when journalists don't really have anything to compare it to. Who's to say what are good or bad numbers for 31 local authorities trying to run a mortgage scheme with little to no staff trained specifically in this area? I'd also regard 9 months since opening the scheme as still being early days.

On the other hand - I think it is totally fair to criticize Rebuilding Ireland for the lack of unity across County Councils. There's huge variance in the processes and levels of waiting time involved. Councils who are dealing with applications far slower or with more bureaucracy than others should really be corrected in their procedures.

RosyRose · 06-11-2018 8:22pm

I totally agree with Darkglasses. The Local Authorities needs further training and more staff to deal with all the applications. It will be good if the Authorities who are showing good results can provide training and advise for others. With the same documents we were approved in DCC for 4 weeks and we are still waiting 19 weeks for decision in Kildare. It looks like most of the time the Credit Committee meets once in a month and this is not enough the volume to be handeled. I would love if someone can hear some feedback from applicants and work on the process.

RosyRose · 06-11-2018 11:24pm

Tazzie2011 wrote: »

Just wondering if anyone has had any experience with Kildare County Council?

I have applied in Kildare and I am waiting for credit Committee to meet this week. If you need any info, let me know.

Lee3b · 07-11-2018 1:20am

Huge rant coming !!! Applied for loan with kdcc in June back from the underwriters in July and still waiting on a decision every week there is a new excuse . Last week not enough staff today was that there wasn't enough time in the meeting as I wasn't top of the pile even having applied in June that was 5 months ago the meeting only lasted 30 minutes ... I have it all in writing . Has anyone any ideas how I can get an answer please in desperate .. I had to put deposit on a house because it was the last one Ieft we could afford according to them .being pushed out of the area I'm living in even though the mortgage is less than the rent we have being paying for years never mind the saving we have being doing ... should I make a complaint . Sorry for being so negative the scheme sounds like a great opportunity but causing a lot of anxiety

Darkglasses · 07-11-2018 8:29am

Lee3b wrote: »

Huge rant coming !!! Applied for loan with kdcc in June back from the underwriters in July and still waiting on a decision every week there is a new excuse . Last week not enough staff today was that there wasn't enough time in the meeting as I wasn't top of the pile even having applied in June that was 5 months ago the meeting only lasted 30 minutes ... I have it all in writing . Has anyone any ideas how I can get an answer please in desperate .. I had to put deposit on a house because it was the last one Ieft we could afford according to them .being pushed out of the area I'm living in even though the mortgage is less than the rent we have being paying for years never mind the saving we have being doing ... should I make a complaint . Sorry for being so negative the scheme sounds like a great opportunity but causing a lot of anxiety

Could explain your situation to a County Councillor and ask them to make representations on your behalf?

Lee3b · 08-11-2018 12:44am

Ok so after last night's rant I'm totally on the other side we got an offer today Wahoo after a long road it can't get any harder that the last 5 months waiting. I know there is more to come but we are over our hardest hurdle .

sarah88 · 08-11-2018 12:49am

Has anyone had experience applying to Waterford council? Hoping for an idea of wait times as I will be applying myself in the next few weeks

Many Thanks

Sarah

DUB924 · 08-11-2018 9:00am

Just wondering did anyone share their Structural survey with the Estate Agent?

Tazzie2011 · 08-11-2018 2:25pm

@RosyRose.
Thanks for your reply.

We just put an application in 2 weeks ago. Haven't heard anything yet.Can you tell me what your experience has been so far?

Tazzie2011 · 08-11-2018 2:26pm

RosyRose wrote: »

I have applied in Kildare and I am waiting for credit Committee to meet this week. If you need any info, let me know.

Thanks for your reply.

We just put an application in 2 weeks ago. Haven't heard anything yet.Can you tell me what your experience has been so far?

Sam2904 · 08-11-2018 3:12pm

bubbles46 wrote: »

I submitted my application mid-July and its only now with the underwriters and my co-co credit committee meets only once a month so I dont think ill even hear back before Christmas.
I feel like mine is the longest of everyones on this forum. Im so frustrated.

We applied in May. Still waiting to hear back. Was told hould be going to the credit committee in the next 2 weeks

RosyRose · 08-11-2018 7:25pm

Lee3b wrote: »

Ok so after last night's rant I'm totally on the other side we got an offer today Wahoo after a long road it can't get any harder that the last 5 months waiting. I know there is more to come but we are over our hardest hurdle .

I am very happy to hear that, Lee3b! Congrats!
Did you got the offer through post or they called you? They are making me sure that our application should go through Credit Committee this week, so fingers crossed.

Jellapino15 · 08-11-2018 8:58pm

Darkglasses wrote: »

I agree it's unfair to call it a failure when journalists don't really have anything to compare it to. Who's to say what are good or bad numbers for 31 local authorities trying to run a mortgage scheme with little to no staff trained specifically in this area? I'd also regard 9 months since opening the scheme as still being early days.

On the other hand - I think it is totally fair to criticize Rebuilding Ireland for the lack of unity across County Councils. There's huge variance in the processes and levels of waiting time involved. Councils who are dealing with applications far slower or with more bureaucracy than others should really be corrected in their procedures.

Yes definitely seems to be totally different depending on what council you go to which isn't fair it should be same rules and processes for each as it's the same scheme overall.
But from what I've heard the first the council workers heard about it was when government announced it to the public and it was then just an added workload to their existing job with, as you said, little to no training given. In reality there should be a separate task force in each council for this scheme who deal solely with the applications and approvals. They must have know it would be popular!

Lee3b · 08-11-2018 9:07pm

No it came by email just off the lady who I have u the email address of . She jus was letting me know she signed off our loan approval and to expect it in the post she was posting it as she wrote. Only she was so helpful to me is say we would be still writing .. we will not be buying in the new houses in naas town let's just say with our offer but 10 minutes outside of it . So I'm happy and it's still new . Best of luck with its I'm dying to know... has she let you know how much they will be bringing to the commitee juts in case . She did for us and wasn't suppose to .

RosyRose · 09-11-2018 9:50am

Lee3b wrote: »

No it came by email just off the lady who I have u the email address of . She jus was letting me know she signed off our loan approval and to expect it in the post she was posting it as she wrote. Only she was so helpful to me is say we would be still writing .. we will not be buying in the new houses in naas town let's just say with our offer but 10 minutes outside of it . So I'm happy and it's still new . Best of luck with its I'm dying to know... has she let you know how much they will be bringing to the commitee juts in case . She did for us and wasn't suppose to .

The same helpful lady told us, we will have decision at the end of September and it looks she was not aware of any existing backlog.

No one ever updated us on email or phone for whatever.

Evenstevens · 09-11-2018 11:20am

Does anyone know if for example you were approved for say 200k but you found you only actually needed 180K are you obliged to take the full amount from the council or can you just take what's needed?

Also, if you are approved for this based on salary and you buy a house and then change jobs down the line and your salary is over the threshold is that an issue or is it more about what your salary is at the time of application?

Thanks

Darkglasses · 09-11-2018 10:50pm

Evenstevens wrote: »

Does anyone know if for example you were approved for say 200k but you found you only actually needed 180K are you obliged to take the full amount from the council or can you just take what's needed?

Also, if you are approved for this based on salary and you buy a house and then change jobs down the line and your salary is over the threshold is that an issue or is it more about what your salary is at the time of application?

Thanks

You only take what's needed (up to 90% of the purchase price), you'll be under no pressure to take out more than that.

As for the second one - It seems to depend a bit on which council you go to. Some don't ask for any further income details after approval - they wouldn't even find out you had changed jobs. Some do ask for up to date payslips at the time of draw down, but I don't know what the consequences are if you have changed jobs

Lee3b · 10-11-2018 12:45pm

Yeah well we were told we would have an answer in August . Every week there was an excuse . Just keep onto them i was their nightmare I rang every second day and checked was there a meeting . It did give us time to save for furniture but it was a loooong wait . When is there next meeting did she say

SPurple · 10-11-2018 1:18pm

Lee3b wrote: »

Yeah well we were told we would have an answer in August . Every week there was an excuse . Just keep onto them i was their nightmare I rang every second day and checked was there a meeting . It did give us time to save for furniture but it was a loooong wait . When is there next meeting did she say

So good to hear somebody actually got approval! I am waiting since June with KCC. Phoning every Friday and now every couple of days with constantly changing excuses about lack of staff or a question on my application. I was told I'd be dealt with last week for definite and still no word.

Have you received your letter of confirmation by post?

Lee3b · 11-11-2018 12:55am

Hi yes it did come in the post Friday morning ... the only thing is I did get to the stage where ei left voicemails all the time and never got a reply that I get one weekday off work a week and I kept calling in they lost a lot of my paper work on me and they knew they lost it but never rang us to say only I kept going in to find out what was wrong ... they are so understaffed there is only. 3 people in off looking after the whole thing and it's really hard because they are all really nice its so hard when you are so angry at how long it's taking.... if i wer you when you get through again ask for their email it means u have it all in writing and seems to be quicker as they haveto reply

SPurple · 11-11-2018 1:31pm

Lee3b wrote: »

Hi yes it did come in the post Friday morning ... the only thing is I did get to the stage where ei left voicemails all the time and never got a reply that I get one weekday off work a week and I kept calling in they lost a lot of my paper work on me and they knew they lost it but never rang us to say only I kept going in to find out what was wrong ... they are so understaffed there is only. 3 people in off looking after the whole thing and it's really hard because they are all really nice its so hard when you are so angry at how long it's taking.... if i wer you when you get through again ask for their email it means u have it all in writing and seems to be quicker as they haveto reply

Thanks so much for the advice. I really appreciate that. Fingers and toes crossed!

millieb · 11-11-2018 5:50pm

Has anyone appealed the decision and how long was it before you got a reply from them thanks

Lee3b · 11-11-2018 11:01pm

No problem at all anything else just ask beat of luck I know how stressful it is especialmy after being given this glimmer of hope we never would have gotten of a bank

Evenstevens · 11-11-2018 11:41pm

Darkglasses wrote: »

You only take what's needed (up to 90% of the purchase price), you'll be under no pressure to take out more than that.

As for the second one - It seems to depend a bit on which council you go to. Some don't ask for any further income details after approval - they wouldn't even find out you had changed jobs. Some do ask for up to date payslips at the time of draw down, but I don't know what the consequences are if you have changed jobs

Thanks for that. I'm going to assume on the second one that you could change jobs. I would think it's unlikely that everyone who gets approved is going to stay in the same job forever esp these days.

Darkglasses · 12-11-2018 12:01am

Evenstevens wrote: »

Thanks for that. I'm going to assume on the second one that you could change jobs. I would think it's unlikely that everyone who gets approved is going to stay in the same job forever esp these days.

Sorry I misread your question, I thought you meant change jobs prior to drawdown. Definitely no consequences of changing job after you've actually bought the house. All the better for the lender if you are on a higher income then.

RosyRose · 12-11-2018 12:12am

Lee3b wrote: »

Yeah well we were told we would have an answer in August . Every week there was an excuse . Just keep onto them i was their nightmare I rang every second day and checked was there a meeting . It did give us time to save for furniture but it was a loooong wait . When is there next meeting did she say

We got our Form 1 on Friday as well.

lucast2007us · 12-11-2018 12:14am

Is this stopping in the new year or is it due to continue for a few years does anyone know?

Darkglasses · 12-11-2018 12:53pm

lucast2007us wrote: »

Is this stopping in the new year or is it due to continue for a few years does anyone know?

Will be back next year, and likely the year after although possibly at different interest rates.

Lee3b · 12-11-2018 2:16pm

Brilliant .. do you know where to go from here or how long it takes to get final approval ?? Hope you got what you wanted and can start moving on your house

Jellapino15 · 12-11-2018 9:11pm

Can I ask that this form 1 is people talk of? I only got a two sided letter of approval in June stating amount and conditions (taking out the mpi and solicitor etc) and then a form attached to fill in and send back with details of the property once found?

Some people seem to be mentioning lots of forms on here though, worried I was left short something

Darkglasses · 12-11-2018 9:49pm

Jellapino15 wrote: »

Can I ask that this form 1 is people talk of? I only got a two sided letter of approval in June stating amount and conditions (taking out the mpi and solicitor etc) and then a form attached to fill in and send back with details of the property once found?

Some people seem to be mentioning lots of forms on here though, worried I was left short something

Not necessarily - some Councils do not have a Form 1, Councils do not use all the same paperwork.

lucast2007us · 12-11-2018 9:55pm

Looking to apply in for the laois area!
Do we physically bring the forms into the laois county council offices?

Darkglasses · 12-11-2018 10:29pm

lucast2007us wrote: »

Looking to apply in for the laois area!
Do we physically bring the forms into the laois county council offices?

Can't speak for Laois specifically, but I can't see why you couldn't just post them in. For specific queries like that, you'd be better off giving them a ring and asking them.

Cazzums · 13-11-2018 1:18am

Tazzie2011 wrote: »

Just wondering if anyone has had any experience with Kildare County Council?

I got approved with Kildare and bought my house last month. It’s a long process but had no issues with them!

Evenstevens · 13-11-2018 9:56am

Cazzums wrote: »

I got approved with Kildare and bought my house last month. It’s a long process but had no issues with them!

Can I ask how long it took for you to get approval with them?
Thanks

Rebuilding Ireland home loan

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