Rebuilding Ireland home loan

Jellapino15 · 07-10-2018 4:04pm

suemurray wrote: »

Similar issue - different council - my solicitor had to physically go to the council office to speak with someone which helped speed things up eventually but the delay getting the legal pack out was frustrating - I was in different boat - I was buying new build so no major hurry - I hope u get sorted but please get your solicitor to keep on top of calling and ringing their (council) legal team that’s what they are paid to do - fingers crossed for u - I know how stressful whole thing is

I paid booking deposit on a new build I've been chasing since nearly a year ago, finally released. I was told contracts will go out to solicitor next and must be signed within 21 days. I will be sending in form to council tomorrow with details of property and receipt of deposit. My solicitor said next step would be council sending loan pack. Will the possible delay with this loan pack effect my ability to buy if I need to sign contracts within the 21 days? I have no clue what the process is, people seem to have different experiences. Could you share your experience of the process please?
I was so excited yesterday to have finally secured my house now I'm so anxious about getting the contracts signed and the mortgage locked in. The build is also going to take possibly 9 months and my approval is up in December with the CC so I'm anxious about this.

cork93 · 08-10-2018 1:46am

Apologies if this question has been asked already but can anyone advise on the easiest way to get offers of insufficient funds please? Do any of the council's except the results of online calculators which basically indicate that the max funds available will be 3.5 times gross income.

Seems like a waste of everyone's time going through a full mortgage application with a bank when all parties know the bank cannot give you the required amount.

millieb · 08-10-2018 10:12pm

Hi all just been refused after a 3 month waiting period devastated ...Single self employed and asked for a loan of a mere 80 k but refused has anyone appealed successfully or do you think its just pot luck I have half the requested amount saved but they say that it is insufficient feeling very deflated anyone self employed single been successful ?

Darkglasses · 08-10-2018 10:17pm

millieb wrote: »

Hi all just been refused after a 3 month waiting period devastated ...Single self employed and asked for a loan of a mere 80 k but refused has anyone appealed successfully or do you think its just pot luck I have half the requested amount saved but they say that it is insufficient feeling very deflated anyone self employed single been successful ?

You don't have the 10% deposit? There's no point appealing if not, better to think about re applying when you do.

Cocobean1 · 08-10-2018 10:26pm

Viktoria99 wrote: »

Hi Guys,

We have had final approval meeting with fingal county council two weeks ago signed all the papers, now we are waiting for the legal team to contact our solicitor. Anyone has gone through this stage? how long should we wait for a reply? Is it possible that we can still get rejected even if we got an approval in principal?

We have put a deposit on a house and gone sale agreed three weeks ago.

Have you made anymore progress? We went sale agreed 3 weeks ago. Our solicitor is still waiting to hear from council's solicitor. When I spoke to the council they just said their solicitor is working on it and could not give a time frame as to when they will contact our solicitor.

millieb · 09-10-2018 2:15pm

Darkglasses wrote: »

You don't have the 10% deposit? There's no point appealing if not, better to think about re applying when you do.

Sorry my post may be misleading I have 40 k deposit saved but this is insufficient according to letter of refusal I am only looking for 80 k

power pants · 09-10-2018 5:33pm

millieb wrote: »

Hi all just been refused after a 3 month waiting period devastated ...Single self employed and asked for a loan of a mere 80 k but refused has anyone appealed successfully or do you think its just pot luck I have half the requested amount saved but they say that it is insufficient feeling very deflated anyone self employed single been successful ?

Ask them to check it again

I got refused initially and told them to double check as their reason didn’t make sense

Was error on their behalf

millieb · 09-10-2018 6:33pm

power pants wrote: »

Ask them to check it again

I got refused initially and told them to double check as their reason didn’t make sense

Was error on their behalf

I am waiting on my Local TD to get back from the Dail when I rang and questioned the reasons the woman on the phone didn't know the answers just that she was only there 2 weeks now and all that she could say was appeal it when I asked to who& to give me a name to put pen to paper too she kept putting me on hold then when i asked why they where been so cloak and dagger that its not the CIA they are working for she gave me the name for such a small amount it seems petty

millieb · 09-10-2018 6:35pm

power pants wrote: »

Ask them to check it again

I got refused initially and told them to double check as their reason didn’t make sense

Was error on their behalf

I wonder if refusal reasons are all the same ??

BKWDR · 09-10-2018 8:12pm

millieb wrote: »

I wonder if refusal reasons are all the same ??

Maybe it's the Dublin in me... But where are you buying for 120k?

I might be wrong but do you have to be refused by a bank? Would a bank not give you 80k?

millieb · 09-10-2018 8:41pm

BKWDR wrote: »

Maybe it's the Dublin in me... But where are you buying for 120k?

I might be wrong but do you have to be refused by a bank? Would a bank not give you 80k?

Hi because I am self employed and use my house for business the banks won't give you a mortgage for a house used as a business I am in Louth and I am not really looking too much at the house its the garden that interests me so that I can continue my business and expand I only need a 1 bedroom house nothing fancy the most I could get through the bank on a personal loan is 30 k but I paid off my loan in order to get approval and missed out on a property really annoying

power pants · 09-10-2018 8:42pm

BKWDR wrote: »

Maybe it's the Dublin in me... But where are you buying for 120k?

I might be wrong but do you have to be refused by a bank? Would a bank not give you 80k?

When I queried the refusal , the guy from rebuilding Ireland said he would run it past the underwriter again

They rang next day to say was a mix up

millieb · 09-10-2018 8:52pm

power pants wrote: »

When I queried the refusal , the guy from rebuilding Ireland said he would run it past the underwriter again

They rang next day to say was a mix up

So happy for you fingers crossed my TD can help me yet again !!! I think the whole self employed and job description is really going against me :rolleyes:

Viktoria99 · 10-10-2018 8:47am

Cocobean1 wrote: »

Have you made anymore progress? We went sale agreed 3 weeks ago. Our solicitor is still waiting to hear from council's solicitor. When I spoke to the council they just said their solicitor is working on it and could not give a time frame as to when they will contact our solicitor.

Hi, I haven't heard from them yet. my solicitor is trying to contact fingal but they never answer their phone. I remember that on the final approval meeting they said it could take up to a month to get the legal pack sent to our solicitor.
As reading from this thread it can take about 3 weeks. Hopefully earlier fingers crossed. Would be great to move to a new house before Christmas

What County Council did you apply?

Jmk725 · 10-10-2018 11:24am

Hi everybody,

Can anybody tell me if they have dealt with Monaghan County Council and if so how have they gotten on?
I was initially told I did not demonstrate the repayment capacity for my loan, even though I am applying for the amount shown on the website.
They finally got back in touch to say my loan repayments and MPI could not be more than 30% of my net monthly income and I was to close to 30% at 29.97%.
I currently am getting them to look at it again and waiting to hear back from the credit committee.

Can anybody tell me what the rate of MPI is?

Thanks

Viktoria99 · 10-10-2018 11:37am

Hello,

any progress now? Did you receive the legal pack?

Viktoria99 · 10-10-2018 11:37am

stryker mcqueen wrote: »

We've been sale agreed for a few weeks , submitted form 3 and updated docs awaiting contract being sent to our solicitor 3 weeks ago , so 3 weeks of limbo , chasing DCC with little response, still with their legal team apparently.

All the while the vendor is pressuring us and threatening to pull out of the sale , I have to say I'm finding this part of the process much more stressful than the waiting for approval.

Anyone who went with DCC give an indication how long this took?

Thanks

Hi! any progress now? Did you receive the legal pack?

RosyRose · 11-10-2018 11:51am

Lee3b wrote: »

Mine is in 6 weeks but have been advised it will be longer than normal the underwriter is the quickest part apparently that the delay is caused by the councils as they don't hold any meetings in August and they have the final say

Seems we are at the same boat. We submitted the documents on 3rd of July in Kildare coco, but it went to the underwriter at the end of August just because we have missed to add the amount that we are applying for and no one called us to ask that for 8 weeks.

Did you got approval already? We put deposit on new build house on 15th of september, because on the meeting they told us we can expect the decision next week and it’s been a month already with no decision. The agency have sent the contract to the solicitor and we have 21 days to sign it in order to get the kitchen appliances. And by reading the posts here it seems this is just the beginning.

Lee3b · 11-10-2018 1:57pm

Yes we are in the very same boat I have a holding deposit down on in kildare we are probably the same estate!!! My application came back and we sent the form in blank but they came back offering 40k less from wat we needed and I only found this out because I kept ringing . We are advised to send back another application with the figure we want and wait on that it's gone off another 3 weeks now and I emailed again today its still at underwriters. The estate agent is on to us constantly now threatening to pull our deposit. We haven't given solicitors details as of yet because of the contract has to be signed within 21 days of receiving it we will loose them. I don't even like the house we r going for sooo not worth the money but the ones we want across the road went up again ... did u have a meeting with the coco

RosyRose · 11-10-2018 4:13pm

Lee3b wrote: »

Yes we are in the very same boat I have a holding deposit down on in kildare we are probably the same estate!!! My application came back and we sent the form in blank but they came back offering 40k less from wat we needed and I only found this out because I kept ringing . We are advised to send back another application with the figure we want and wait on that it's gone off another 3 weeks now and I emailed again today its still at underwriters. The estate agent is on to us constantly now threatening to pull our deposit. We haven't given solicitors details as of yet because of the contract has to be signed within 21 days of receiving it we will loose them. I don't even like the house we r going for sooo not worth the money but the ones we want across the road went up again ... did u have a meeting with the coco

We had a meeting on 12 th of September and they told us to expect the decision on the following week. This is why we were so confident to put deposit for the house. When I called them on 21st of September, they said 2-3 more weeks, nothing so far. When I try to call them it is a nightmare someone to pick the phone. I am pushing the solicitor now to find a way and put condition like “subject on mortgage approval”.

We were approved from Dublin City coco and Finglas Coco for just 4 weeks and Kildare are already 8 weeks since we have the ref number and 16 since we submitted the documents.

Can you pm me an email for Kildare if you have any, because I have just ph number?

Clockface · 11-10-2018 7:33pm

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

gral6 · 11-10-2018 9:21pm

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

Colemania · 11-10-2018 10:03pm

gral6 wrote: »

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

6 months

Helen123456789 · 13-10-2018 8:03am

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? ?

Helen123456789 · 13-10-2018 8:09am

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? ?

cjoanna · 15-10-2018 5:48pm

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

DUB924 · 19-10-2018 12:30pm

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?

stryker mcqueen · 19-10-2018 1:00pm

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!!

power pants · 19-10-2018 3:45pm

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

DUB924 · 19-10-2018 3:51pm

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

power pants · 19-10-2018 4:18pm

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

DUB924 · 19-10-2018 4:25pm

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

Viktoria99 · 20-10-2018 11:49am

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!

Alk866 · 22-10-2018 8:31pm

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

TheKKCat · 23-10-2018 9:44am

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.

The Red Lantern · 23-10-2018 2:05pm

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

Sam2904 · 24-10-2018 1:57pm

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

BrianDunlea · 24-10-2018 10:24pm

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.

Colemania · 26-10-2018 11:54am

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

lucast2007us · 29-10-2018 1:44pm

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?

Colemania · 29-10-2018 10:08pm

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

Colemania · 29-10-2018 10:08pm

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

Evenstevens · 30-10-2018 12:07pm

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.

RosyRose · 30-10-2018 3:51pm

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.

Colemania · 30-10-2018 3:54pm

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

RosyRose · 31-10-2018 9:34pm

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.

Jellapino15 · 01-11-2018 7:38pm

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?

Jellapino15 · 01-11-2018 7:52pm

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?!

VW08 · 01-11-2018 8:17pm

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?

Darkglasses · 01-11-2018 10:59pm

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.

Rebuilding Ireland home loan

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