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Rebuilding Ireland home loan

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    #572
    Clockface
    Registered Users Posts: 1 ✭Clockface


    Hi Everybody,

    I know 50,000 is the max to be eligible but anyone heard of a minimum amount to be earned in order to qualify?

    Thanks


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    #573
    gral6
    Registered Users Posts: 657 ✭✭✭gral6


    Does anyone know how long rebuilding Ireland home long would be valid once approved?


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    #574
    Colemania
    Registered Users Posts: 4,110 ✭✭✭Colemania


    gral6 wrote: »
    Does anyone know how long rebuilding Ireland home long would be valid once approved?

    6 months


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    #575
    Helen123456789
    Registered Users Posts: 2 ✭Helen123456789


    Rebuilding ireland loan....Just wondering if anyone can tell me their experience with applications for this scheme. I applied to galway Co co last feb. I got loan approval in principle in july. I have picked a house to buy. Done valuation and engineers report and submitted them....
    Yesterday I got an email saying they want a house report completed and sent back using their template.
    Have had 8 months of paperwork now I need to complete this very detailed report.
    Does any one else have same experience? ?


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    #576
    Helen123456789
    Registered Users Posts: 2 ✭Helen123456789


    Just wondering if anyone can tell me their experience with applications for this scheme. I applied to galway Co co last feb. I got loan approval in principle in july. I have picked a house to buy. Done valuation and engineers report and submitted them....
    Today I got an email saying they want a house report completed and sent back using their template.
    Have had 8 months of paperwork now I need to complete this very detailed report.
    Does any one else have same experience? ?


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    #577
    cjoanna
    Registered Users Posts: 2 ✭cjoanna


    Hi everyone, I'm wondering if is anyone who bought the house successfully with the loan from SDCC . We have also applied,sent all documents required and they keep telling us that everything is fine and their solicitor will be in touch with ours, but we still don't have the final approval loan. If yes, how long it took you to receive the final approval ? Thanks


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    #578
    DUB924
    Registered Users Posts: 16 ✭DUB924


    Hi, I know this is probably been asked before but..

    We have found the property we want and have made the offer and been accepted and have sent our booking deposit to the estate agent. Do we now go to the council and tell them we have secured a property and do we also need to inform our solicitors or will the estate agent do all that?

    Apologies if this has been asked and answered just unsure what the next process is for us?


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    #579
    stryker mcqueen
    Registered Users Posts: 1,284 ✭✭✭stryker mcqueen


    Viktoria99 wrote: »
    Hi! any progress now? Did you receive the legal pack?

    So we have just picked up the keys to our new house :)

    Long road alright but so so grateful to this scheme!

    Solicitor received the legal pack monday 2 weeks ago, signed the next day.

    Cheque received this Monday , closed yesterday and got keys today , all very surreal how fast it was at the end!!


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    #580
    power pants
    Registered Users Posts: 2,907 ✭✭✭power pants


    DUB924 wrote: »
    Hi, I know this is probably been asked before but..

    We have found the property we want and have made the offer and been accepted and have sent our booking deposit to the estate agent. Do we now go to the council and tell them we have secured a property and do we also need to inform our solicitors or will the estate agent do all that?

    Apologies if this has been asked and answered just unsure what the next process is for us?

    When you received a letter stating mortgage approval, you would have also received a page where once you find a property

    You complete, address of property, type of property, value, your solicitor, the estate agent dealing with the sale

    You then email or post this information along with your reference code


    Rebuild Ireland then send you a pack requesting Valuation, salary very, mortgage protection forms


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    #581
    DUB924
    Registered Users Posts: 16 ✭DUB924


    That's perfect thanks. Do they then organise a valuation or do we organise this before we send back the form?

    Thanks for you help.
    power pants wrote: »
    When you received a letter stating mortgage approval, you would have also received a page where once you find a property

    You complete, address of property, type of property, value, your solicitor, the estate agent dealing with the sale

    You then email or post this information along with your reference code


    Rebuild Ireland then send you a pack requesting Valuation, salary very, mortgage protection forms


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    #582
    power pants
    Registered Users Posts: 2,907 ✭✭✭power pants


    DUB924 wrote: »
    That's perfect thanks. Do they then organise a valuation or do we organise this before we send back the form?

    Thanks for you help.



    The revaluation request comes once you have submitted the details I mentioned ie solicitors, price, address

    But, nothing stopping you do the revaluation beforehand to have it ready


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    #583
    DUB924
    Registered Users Posts: 16 ✭DUB924


    That's perfect now to get a hold of the council.

    Thanks for the help have no idea what we are doing its great to have the guidance!
    power pants wrote: »
    The revaluation request comes once you have submitted the details I mentioned ie solicitors, price, address

    But, nothing stopping you do the revaluation beforehand to have it ready


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    #584
    Viktoria99
    Registered Users Posts: 22 ✭Viktoria99


    stryker mcqueen wrote: »
    So we have just picked up the keys to our new house :)

    Long road alright but so so grateful to this scheme!

    Solicitor received the legal pack monday 2 weeks ago, signed the next day.

    Cheque received this Monday , closed yesterday and got keys today , all very surreal how fast it was at the end!!

    Thank you for your replay, Thats Great news! Wish you all the best!


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    #585
    Alk866
    Registered Users Posts: 3 ✭Alk866


    LK1988 wrote: »
    Was it SDCC?

    Sorry for the late reply. Yes it was sdcc and we still haven't heard back. It's with the credit committee the past 3 months


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    #586
    TheKKCat
    Registered Users Posts: 1 ✭TheKKCat


    I was approved 4 weeks after all details submitted and approved for full amount.

    Joint income was approx 40K. No P21's requested. And had about 30k in personal savings.


    Hidden costs are the MPI being about 10% of repayment and the CC solicitor fees €1500.


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    #587
    The Red Lantern
    Registered Users Posts: 76 ✭✭The Red Lantern


    May I ask what council you applied to? We applied to DCC four weeks ago. Hopefully news will come soon.


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    #588
    Sam2904
    Registered Users Posts: 8 ✭Sam2904


    Hi all how long did it take for cc engineer to inspect the property after going sale agreed. I rang this morning and waa told there is a back log! TIA


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    #589
    BrianDunlea
    Registered Users Posts: 1 ✭BrianDunlea


    I've applied to Cork County Council. The application has been sent to Dublin, and it took two weeks to be returned. It has been with the Cork County Council now for one week and there will hopefully be a credit meeting next week and then I should have my decision. I will let you know how it goes.


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    #590
    Colemania
    Registered Users Posts: 4,110 ✭✭✭Colemania


    Had our meeting with Meath Co Co yesterday. Such nice people to deal with, through email for the last few months and then in person also.

    So we weren't aware we'd be submitting the application there and then, we thought it was just a meeting to see how our application looked and what other documentation we may need. We actually ended up submitting the application there and then but were missing a few documents so have to post these to them next week.

    We were told current turnaround is 6 weeks, used to be 12 weeks.

    If you've recently set up a new bank account and transferred money from an old one, you will be required to show old bank statements also. We set up one in October 2017 so the timing of it couldn't have been more awkward :P

    A very pleasant experience anyway and we're hopeful of having a successful application :)


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    #591
    lucast2007us
    Registered Users Posts: 801 ✭✭✭lucast2007us


    So you have to be declined for a mortgage from 2 banks or just not offered what you need is it?

    We were originally going for a mortgage of 140k (this is what our mortgage broker said we would likely get)
    but Haven mortgages would only offer 110k and Bank of Ireland would only offer 115k.

    We are going through a broker and these are the offers we got.
    Would we just have to get the paperwork from him showing the offers and attach them to the application for this?


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    #592
    Colemania
    Registered Users Posts: 4,110 ✭✭✭Colemania


    Can you walk into the Revenue office in Cathedral Street in Dublin to get the HPL1 form stamped or does it have to be posted?

    We live in Dublin so I think this is where we are to go. We're just in a bit of a rush to get it done as it's holding up the application being submitted


  • Options
    #593
    Colemania
    Registered Users Posts: 4,110 ✭✭✭Colemania


    Can you walk into the Revenue office in Cathedral Street in Dublin to get the HPL1 form stamped or does it have to be posted?

    We live in Dublin so I think this is where we are to go. We're just in a bit of a rush to get it done as it's holding up the application being submitted


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    #594
    Evenstevens
    Registered Users Posts: 196 ✭✭Evenstevens


    Colemania wrote: »
    Can you walk into the Revenue office in Cathedral Street in Dublin to get the HPL1 form stamped or does it have to be posted?

    We live in Dublin so I think this is where we are to go. We're just in a bit of a rush to get it done as it's holding up the application being submitted

    I think you can just walk in and get it there yes.
    I emailed it to custform@revenue.ie as I couldn't get in there due to work. They rang me back to advise it had been forwarded to relevant place and I had it out in the post within a week.


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    #595
    RosyRose
    Registered Users Posts: 19 ✭RosyRose


    lucast2007us wrote: »
    So you have to be declined for a mortgage from 2 banks or just not offered what you need is it?

    We were originally going for a mortgage of 140k (this is what our mortgage broker said we would likely get)
    but Haven mortgages would only offer 110k and Bank of Ireland would only offer 115k.

    We are going through a broker and these are the offers we got.
    Would we just have to get the paperwork from him showing the offers and attach them to the application for this?

    You ca get the letter of offer from Haven and BOI with insufficient offers and apply for Rebuilding Ireland.

    Colemania wrote: »
    Can you walk into the Revenue office in Cathedral Street in Dublin to get the HPL1 form stamped or does it have to be posted?

    We live in Dublin so I think this is where we are to go. We're just in a bit of a rush to get it done as it's holding up the application being submitted

    Yes, you can go upstairs and they will do it straight away.


  • Options
    #596
    Colemania
    Registered Users Posts: 4,110 ✭✭✭Colemania


    RosyRose wrote: »
    You ca get the letter of offer from Haven and BOI with insufficient offers and apply for Rebuilding Ireland.




    Yes, you can go upstairs and they will do it straight away.

    Perfect, thanks very much


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    #597
    RosyRose
    Registered Users Posts: 19 ✭RosyRose


    Alk866 wrote: »
    Sorry for the late reply. Yes it was sdcc and we still haven't heard back. It's with the credit committee the past 3 months

    3 months with credit Committee? This is ridiculous! I would ask for their complaint procedure, submit a complaint and if the answer is insufficient, go to the Ombudsman. Ask when was the last Credit Commitee’s meeting and what are the reference number of the applications which went through on the last meeting and so on..

    If more people sent their complaints to the Ombudsman, better chance the things to change.


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    #598
    Jellapino15
    Registered Users Posts: 16 ✭Jellapino15


    Wondering about people's experiences with using this loan for new builds? Have booking deposit on house but will take up to 10months to build. RIH website says it can be used for new houses but how is it working with the 6month approvals and loan packs for people? Can anyone share their experience?

    Council won't start anything on their end until house is fully built they say so my solicitor is concerned regarding guarantee of money in 10 months time with no loan letter other than the original approval stating amount and only valid to Dec. Surely there must be a system in place for new builds?


  • Options
    #599
    Jellapino15
    Registered Users Posts: 16 ✭Jellapino15


    Wondering about people's experiences with using this loan for new builds? Have booking deposit on house but will take up to 10months to build. RIH website says it can be used for new houses but how is it working with the 6month approvals and loan packs for people?

    Can anyone share their experience of the steps involved/letters/forms? At the moment all I have is word of council rep they'll keep extending as long as I keep showing saving etc. Solicitor doesn't appear happy with just their word though and they won't commit any guarantee to writing! Surely there must be a process in place for new builds though?!


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    #600
    VW08
    Registered Users Posts: 61 ✭✭VW08


    Jellapino15 wrote: »
    Wondering about people's experiences with using this loan for new builds? Have booking deposit on house but will take up to 10months to build. RIH website says it can be used for new houses but how is it working with the 6month approvals and loan packs for people? Can anyone share their experience?

    Council won't start anything on their end until house is fully built they say so my solicitor is concerned regarding guarantee of money in 10 months time with no loan letter other than the original approval stating amount and only valid to Dec. Surely there must be a system in place for new builds?


    Don’t they do stage payments during the build?


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    #601
    Darkglasses
    Moderators, Computer Games Moderators, Sports Moderators Posts: 14,526 Mod ✭✭✭✭Darkglasses


    Jellapino15 wrote: »
    Wondering about people's experiences with using this loan for new builds? Have booking deposit on house but will take up to 10months to build. RIH website says it can be used for new houses but how is it working with the 6month approvals and loan packs for people?

    Can anyone share their experience of the steps involved/letters/forms? At the moment all I have is word of council rep they'll keep extending as long as I keep showing saving etc. Solicitor doesn't appear happy with just their word though and they won't commit any guarantee to writing! Surely there must be a process in place for new builds though?!

    I think your solicitor is absolutely spot on in this regard. There may not be a process for having an approval open that long - this is a very new scheme and not many people are buying new builds that far down the line. I would push to get a commitment in writing or approach with caution.


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