Rebuilding Ireland home loan

laoise6 · 28-10-2020 8:08pm

Lauren52 wrote: »

Is this including money left over for fees ?

So say the house You want to purchase is 200,000
Have You 10,000 + money for fees?
Then 10,000 from H2B as long as it's a new property?

Yep. But HTB says you can claim the full 10%.. it’s so confusing..

laoise6 · 28-10-2020 8:09pm

Lauren52 wrote: »

I think we will be declined because when I rang the first time it came back from UW she told me they looked for 260,000 (we put maximum for our earnings)
When I put ours into online it is less than 260 , my husband got a payrise in between putting in updated app and the time it went so we submitted payslips and updated salary cert but even with the payrise still does not calculate to 260,000. When she resubmit could not look for less as that would of had to be a new application and we would of had to go to the back of the q (15mts in now)

When ours was resubmitted I asked how long it would take to come back , she said 2-3 weeks usually , that was sept 18th.

I think they come back quick , but they dont get to them. (Well in Kildare anyway)

I would ask for the proof that it was sent to underwriters, have everything , like everything they are saying no on I would print each thing, stick a post it on each "proof of continuous employment" "proof of savings" etc etc

So stressful , but get it all together and go for it.

There approval rate is under 50%

They really dont make it easy!

That’s so bad, i really hope you get approved as otherwise it’ll literally be the councils fault if you don’t.. honestly!

Lauren52 · 28-10-2020 8:32pm

laoise6 wrote: »

Yep. But HTB says you can claim the full 10%.. it’s so confusing..

Is it 10% now that You can get up to 30K

I havnt a clue on this, we will be going with H2B but we havnt paid 30,000 in Tax in the last 4 years so this isnt that great for us, If anything it's just upped the house prices for new builds - cant win we have over 10% saved Thank God, we only have so much saved because it took so bloody long , 1 benefit for the length if time I guess so at least it will bring down final price a small bit.

laoise6 · 28-10-2020 9:26pm

Lauren52 wrote: »

Is it 10% now that You can get up to 30K

I havnt a clue on this, we will be going with H2B but we havnt paid 30,000 in Tax in the last 4 years so this isnt that great for us, If anything it's just upped the house prices for new builds - cant win we have over 10% saved Thank God, we only have so much saved because it took so bloody long , 1 benefit for the length if time I guess so at least it will bring down final price a small bit.

Which council you applying to? Good luck - I was just told flat out I can’t use HTB.. but I’m learning each council just makes it up as they go along..

Dankarl · 28-10-2020 9:41pm

Cheesepuffs wrote: »

Hi,

Does anyone know what it means by
‘We have received a request from your solicitors for the cheque to be issued’

We is it issued from and what’s the time frame. Solicitors said requested on the 09/10.

No sign of it

CP

We are in similar situation.
Anyone any help ?

KH1591 · 28-10-2020 10:00pm

laoise6 wrote: »

Which council you applying to? Good luck - I was just told flat out I can’t use HTB.. but I’m learning each council just makes it up as they go along..

Definitely follow up about it! The only thing I could think of is the HTB is only on new builds so unless its a 2nd hand property you shouldn't have had any problems! Very frustrating

Salanky · 28-10-2020 10:26pm

Contracts signed by the seller last Thursday, cheque being issued by the council tomorrow with the seller wanting to close on the 2nd of November. My solicitor is off now until the 2nd so thats not gonna happen. I'm hoping the cheque will be cleared by next week and I will be able to close by Friday.

jessimirish · 28-10-2020 11:52pm

Hi all, question about the Covid wage subsidy. My employer was on the covid subsidy, but hasn't been for my last 2 payslips (I'm paid monthly). However, at the time I submitted my application, all my payslips showed the subsidy. The last 2 without the subsidy have come in since my application was sent off.

My employment circumstances haven't changed - I've been employed the whole way through the pandemic and my job is secure, but I'm worried now they will decline me because of this.

Anyone got experience with this?

Lauren52 · 29-10-2020 12:17am

jessimirish wrote: »

Hi all, question about the Covid wage subsidy. My employer was on the covid subsidy, but hasn't been for my last 2 payslips (I'm paid monthly). However, at the time I submitted my application, all my payslips showed the subsidy. The last 2 without the subsidy have come in since my application was sent off.

My employment circumstances haven't changed - I've been employed the whole way through the pandemic and my job is secure, but I'm worried now they will decline me because of this.

Anyone got experience with this?

Hi,

Contact them and get an email You can send to in order to add them.

I had to send payslips via email to prove I was off the subsidy.

Best of luck.

Lauren52 · 29-10-2020 12:19am

laoise6 wrote: »

Which council you applying to? Good luck - I was just told flat out I can’t use HTB.. but I’m learning each council just makes it up as they go along..

Kildare.

Who told You You cant use it? We will be using it, just not for the 10 %

Lauren52 · 29-10-2020 12:20am

KH1591 wrote: »

Definitely follow up about it! The only thing I could think of is the HTB is only on new builds so unless its a 2nd hand property you shouldn't have had any problems! Very frustrating

I agree that should be the only reason You couldnt use it

Good Luck with Appeal

laoise6 · 29-10-2020 1:04pm

Lauren52 wrote: »

Kildare.

Who told You You cant use it? We will be using it, just not for the 10 %

I think that’s the loop hole - if you need it for the deposit they’ll block you from using it, but they'll let you use it to reduce the mortgage you need ?

It doesn’t make any sense to me - I’ve appealed anyway.. so fingers crossed.

Lauren52 · 29-10-2020 1:59pm

laoise6 wrote: »

I think that’s the loop hole - if you need it for the deposit they’ll block you from using it, but they'll let you use it to reduce the mortgage you need ?

It doesn’t make any sense to me - I’ve appealed anyway.. so fingers crossed.

Best Of Luck

Lauren52 · 29-10-2020 2:00pm

Hi , me again !
Does anyone know how is the MPI is calculated ? I have searched online and cant find anything? Trying to get ahead of myself incase of appeal
TIA

KH1591 · 29-10-2020 2:23pm

laoise6 wrote: »

I think that’s the loop hole - if you need it for the deposit they’ll block you from using it, but they'll let you use it to reduce the mortgage you need ?

It doesn’t make any sense to me - I’ve appealed anyway.. so fingers crossed.

I was speaking with Rebuilding Ireland and they said you can use the HTB for up to 70% of your deposit so that shouldn't have been the issue unless property was second hand!
Best of luck with the appeal!

navan21 · 30-10-2020 12:19am

Has anyone gotten this loan for a self build recently? Finding it so difficult to find experiences from anyone who has! Thanks

Jafin · 30-10-2020 11:30am

Lauren52 wrote: »

Hi , me again !
Does anyone know how is the MPI is calculated ? I have searched online and cant find anything? Trying to get ahead of myself incase of appeal
TIA

It's 0.55% of the outstanding balance on your mortgage and then divide it by 12 to get your monthly payment. It gets reduced accordingly every year since the amount you owe is less.

As a side note, when you get some of your documentation after getting AIP it gives a breakdown of exactly how much you'll pay every month for the first year and then how much you'll pay in total for every year after that (assuming you take the full amount they're offering you), which you can then divide by 12 yourself to get the monthly payments.

phobia2011 · 30-10-2020 2:53pm

Can someone confirm what solicitor fees are excluded when usin the tenant purchase scheme, ?
Thanks in advance

Juca161 · 30-10-2020 10:45pm

Jafin wrote: »

Welp. Sent in my structural survey last week to the council and they just got back to me with four things that have to be done and they won't issue the mortgage unless they are done. Now I'm a complete idiot when it comes to these things. There are things in there that they are saying don't comply with building regulations. The property was built in 1996 and the building regulations they are talking about came into effect between 1997 and 1999. Can I dispute the recommendations or anything since the property was built before the regulations came into play? The things they are saying I have to do are things I would have done down the line anyway, but they won't issue the mortgage unless they are done prior to occupation.

Sorry to hear this. Do you mind me asking what things they are asking you to do? I'm waiting a structural report and I'm nervous after reading this. ðŸ˜”

Jafin · 31-10-2020 12:38am

Juca161 wrote: »

Sorry to hear this. Do you mind me asking what things they are asking you to do? I'm waiting a structural report and I'm nervous after reading this. &#55357;&#56852;

The property I'm sale agreed on is an apartment, and apparently some of the stuff in it doesn't conform to building regulations that were around when it was built. There were five things in particular they said needed to be done:

1. Replace all the doors with fire doors (this is specifically because it's an apartment located on the first and second floor - if you're buying a house this shouldn't be an issue).

2. The wall in the attic separating the apartment and the one next to it has...a tiny hole, but that means it's not adequate for fire protection, so that hole needs to be filled.

3. There are a few ventilation issues. The wardrobe in the main bedroom is built in and is blocking the vent. The vents in the kitchen and two spare bedrooms go into the attic, but then it's not vented through the roof.

4. The guard rail on the first floor landing is too short and needs to be taller. Tbh when I first saw it I thought it looked weird too. Let's just say you wouldn't want to be drunk when walking past it or you could fall sideways on to the stairs.

5. One of the smoke alarms was broken, so now they want the whole place fitted with wired smoke alarms.

Tbh my solicitor can't understand what's going on. Everything seems to be done backwards. She thinks it's very strange that a structural survey was required at all before contracts were issued, and she said when banks get a survey like this nine times out of ten they say it's fine as long as the issues are fixed after buying the property. She's going to ring the council on Monday herself and ask to speak to their engineer to see if there's anything that can be done.

ABCD_1234 · 02-11-2020 10:07am

Hi,

When it comes to the loan amount you are approved for. Has anyone had any experience with RIHL and guaranteed bonuses? I read a post yesterday stating RIHL only apply an addition 10% of your basic salary rather than the full guaranteed bonus?

Thank you.

delkel38 · 02-11-2020 5:09pm

navan21 wrote: »

Has anyone gotten this loan for a self build recently? Finding it so difficult to find experiences from anyone who has! Thanks

Yeah I have. Just PM you

jill_valentine · 02-11-2020 8:15pm

jill_valentine wrote: »

I strongly suspect they'll probably ask me for the payslips, salary cert and letter again :pac: but I don't know for sure yet.

I'll give you a full timeline so far -

07/08/20 - Posted Application to Dublin City Council (note that this was a Friday, so bear in mind two days of weekend to follow)
12/08/20 - Got a follow up query requesting a Gift Letter, scanned and returned this by email same day. Was advised all else was in order and it would go to the Underwriters, and this would take 6-8 weeks.
18/09/20 - Emailed for update, advised app was back from Underwriters and would go on to the Credit Committee, which was to meet mid October.
08/10/20 - Emailed for update, was advised it was just back from Credit Committee and that I'd been approved, that there was a declaration of Continuity of Employment on the way out to me to be signed, and that I'd be required to submit proofs to this effect (2 Payslips, a Salary Cert and a letter from my employer to say I would not be on the Covid subsidy and my circumstances of employment had not changed since my initial application)
12/10/20 - Received Declaration in post, signed and returned along with requested 2 payslips. Could not get a non-standard letter from my employer in a timely fashion, so I phoned DCC to ask what else might suffice. Was assured the Salary Cert was all that was required for this (NB - This was NOT the case, see below) and sent Declaration, Payslips and Salary Cert off that day.
21/10/20 - Emailed for update after not receiving documents. DCC phoned me to tell me Salary Cert was actually not sufficient to demonstrate continuity of employment, I would require a signed letter from my company on headed paper to this effect.
23/10/20 - Obtained above letter from employer in digital format, emailed it in.
27/10/20 - DCC queried the e-sign signature on the letter as they thought it looked like it was cut and pasted. After a very stressed out back and forth, I CC'd my HR Department rep who confirmed it was legit, this was then accepted.

Recieved my Approval in Principle docs today, 02/11/20

jessimirish · 02-11-2020 8:29pm

jill_valentine wrote: »

Recieved my Approval in Principle docs today, 02/11/20

Yaaaaaaay! congrats! good luck with the search

KH1591 · 02-11-2020 9:51pm

jill_valentine wrote: »

Recieved my Approval in Principle docs today, 02/11/20

Congratulations!! Best of luck with your house hunt!!

Lauren52 · 02-11-2020 10:12pm

jill_valentine wrote: »

Recieved my Approval in Principle docs today, 02/11/20

Happy Days, Congrats, enjoy the house hunting

Scr88 · 03-11-2020 2:26pm

So I'm at the final stages. The house is to be inspected by my engineer next Tuesday. However the council are now saying it may take 4 to 8 weeks to get their own engineer out to inspect the house. This sounds mad that they could hold up the closing of the sale by up to 8 weeks. Its a new house and will be finished on Friday. Anyone experience anything similar? Thanks

Jafin · 03-11-2020 2:40pm

Scr88 wrote: »

So I'm at the final stages. The house is to be inspected by my engineer next Tuesday. However the council are now saying it may take 4 to 8 weeks to get their own engineer out to inspect the house. This sounds mad that they could hold up the closing of the sale by up to 8 weeks. Its a new house and will be finished on Friday. Anyone experience anything similar? Thanks

I don't have anything to say that will help you, but I just find it so bizarre how different it's run from council to council. I had to get the engineer's report done myself and then the council just reviewed it. They never said anything about having their own engineer go inspect the property. What's the point of getting you to sort out an engineer if they're just going to send their own one anyway? Makes no sense. Don't get me wrong, all the people I've dealt with in the council have been absolutely lovely and very helpful, but the whole scheme seems like it has no consistency from council to council.

Nexus26 · 03-11-2020 5:18pm

Stekell wrote: »

yes you have get MPI through your council subject to approval from Utmost(the MPI company) but if you get refused you can get it yourself once it meets the councils approval

Hi Stekell, I have also been declined cover by Utmost and had to look for a private life insurance. I am paying though, the same amount for the MPI (as if I was covered) plus the private.
When I mentioned this to my lawyer he said it was unlawful because I was refused and was not given a discount for it. I am paying for something that they are refusing to offer.
At the end of the 25 years I will spend 15,000 Euro on top of the MPI.
Your post is dated a year ago so I assume that by now you have already finished your process. Do you pay the full amount of the MPI plus the private insurance?
Thank you in advance

BKWDR · 03-11-2020 6:51pm

Nexus26 wrote: »

Hi Stekell, I have also been declined cover by Utmost and had to look for a private life insurance. I am paying though, the same amount for the MPI (as if I was covered) plus the private.
When I mentioned this to my lawyer he said it was unlawful because I was refused and was not given a discount for it. I am paying for something that they are refusing to offer.
At the end of the 25 years I will spend 15,000 Euro on top of the MPI.
Your post is dated a year ago so I assume that by now you have already finished your process. Do you pay the full amount of the MPI plus the private insurance?
Thank you in advance

Presume you are part of a joint application and the remaining person / partner was approved by utmost?

Lauren52 · 03-11-2020 9:59pm

KH1591 wrote: »

Application is currently with the underwriters, during this level 5 lockdown I have been laid off of work but my partner has not. Would this affect anything during this stage? We've our full deposit saved and everything is in order. I've heard it shouldn't affect anything until you go to drawdown the mortgage but just want to be certain!

Hey have You heard anything from them yet? Is it back from underwriters?

I am getting so fed up looking at the phone every five mins of every day to see if there is an email.

Can I ask You when You put your application In?

Scr88 · 03-11-2020 10:02pm

Jafin wrote: »

I don't have anything to say that will help you, but I just find it so bizarre how different it's run from council to council. I had to get the engineer's report done myself and then the council just reviewed it. They never said anything about having their own engineer go inspect the property. What's the point of getting you to sort out an engineer if they're just going to send their own one anyway? Makes no sense. Don't get me wrong, all the people I've dealt with in the council have been absolutely lovely and very helpful, but the whole scheme seems like it has no consistency from council to council.

Thanks for your reply. Yes really doesn't make sense when I'm forking out for my own inspection, surely you would think its enough. All I can do is hope that they will inspect it sooner than that. So frustrating when finally at the end to be held up now. It's a long process... Exhausting. Thanks again for your reply

KH1591 · 03-11-2020 10:30pm

Lauren52 wrote: »

Hey have You heard anything from them yet? Is it back from underwriters?

I am getting so fed up looking at the phone every five mins of every day to see if there is an email.

Can I ask You when You put your application In?

PM Sent

Nexus26 · 04-11-2020 10:29am

That's correct. My partner was approved.
Then I had to look for cover for myself but still pay 100% of the amount of the MPI even though I am not covered by Utmost.

Nexus26 · 04-11-2020 10:33am

BKWDR wrote: »

Presume you are part of a joint application and the remaining person / partner was approved by utmost?

That's correct. I was refused but my partner was approved. I then had to look for a private insurance and still pay for 100% of the MPI even though I am not covered by Utmost.
Therefore I am paying for 2 life insurances.

KH1591 · 04-11-2020 1:27pm

Has anyone in Kildare had any update on their application yet?

BKWDR · 04-11-2020 2:10pm

Nexus26 wrote: »

That's correct. I was refused but my partner was approved. I then had to look for a private insurance and still pay for 100% of the MPI even though I am not covered by Utmost.
Therefore I am paying for 2 life insurances.

And have they accepted your private insurance?

In essence, if it was a single application , the price would be the same, it just covers both parties. The individual borrowers need to have the cover in place is all, i dont think its illegal.

I think someone said on this thread that if you dont get covered by the coucnils mpi they dont have to lend to you so at least they are accepting your private quote

Sarahedel1991 · 04-11-2020 3:31pm

Hi there I'm new to this thread, it's so helpful!

I just received an email saying "Your application came back from the Housing Agency this morning. The next step is the Credit Committee meeting which is next week."

Does this mean they make a decision then after the meeting? Does anybody know what this meeting entails?

Also, does it go to the underwriters after this meeting?

Any help or advice is much appreciated.

KH1591 · 04-11-2020 4:29pm

Sarahedel1991 wrote: »

Hi there I'm new to this thread, it's so helpful! So I submitted my application to cork county council 3 weeks ago.

I just received an email saying "Your application came back from the Housing Agency this morning. The next step is the Credit Committee meeting which is next week."

Does this mean they make a decision then after the meeting? Does anybody know what this meeting entails?

Also, does it go to the underwriters after this meeting?

Any help or advice is much appreciated.

Hey! The Housing Agency is the underwriters so the next step is the credit committee who give you the full approval!
Thats extremely fast.. is that 3 weeks since you sent the first application or 3 weeks since you sent updated paperwork?
Best of luck with everything!!

Lauren52 · 04-11-2020 5:29pm

Sarahedel1991 wrote: »

Hi there I'm new to this thread, it's so helpful! So I submitted my application to cork county council 3 weeks ago.

I just received an email saying "Your application came back from the Housing Agency this morning. The next step is the Credit Committee meeting which is next week."

Does this mean they make a decision then after the meeting? Does anybody know what this meeting entails?

Also, does it go to the underwriters after this meeting?

Any help or advice is much appreciated.

This is Brilliant News,
59 weeks faster than mine , Ours still with the housing agency , Best of Luck, sounds promising.

Dankarl · 04-11-2020 7:46pm

Sarahedel1991 wrote: »

Hi there I'm new to this thread, it's so helpful! So I submitted my application to cork county council 3 weeks ago.

I just received an email saying "Your application came back from the Housing Agency this morning. The next step is the Credit Committee meeting which is next week."

Does this mean they make a decision then after the meeting? Does anybody know what this meeting entails?

Also, does it go to the underwriters after this meeting?

Any help or advice is much appreciated.

Hi,

We hope to get our keys this week with Cork County Council. Feel free to PM me any questions.

Sarahedel1991 · 04-11-2020 8:09pm

That's great! Good luck with getting your keys, so exciting!

Sarahedel1991 · 04-11-2020 8:11pm

Lauren52 wrote: »

This is Brilliant News,
59 weeks faster than mine , Ours still with the housing agency , Best of Luck, sounds promising.

I hope yours gets sorted soon! I hope we have some luck, I will let you know!

Sarahedel1991 · 04-11-2020 8:13pm

KH1591 wrote: »

Hey! The Housing Agency is the underwriters so the next step is the credit committee who give you the full approval!
Thats extremely fast.. is that 3 weeks since you sent the first application or 3 weeks since you sent updated paperwork?
Best of luck with everything!!

Three weeks since we sent everything in! It does seem very fast! I don't know if this is a good thing or bad thing that its been so quick! ðŸ€” Do you think we have been half approved maybe? What do the credit comitee look at for approval do you know? Thanks for your help!

Nexus26 · 04-11-2020 9:59pm

BKWDR wrote: »

And have they accepted your private insurance?

In essence, if it was a single application , the price would be the same, it just covers both parties. The individual borrowers need to have the cover in place is all, i dont think its illegal.

I think someone said on this thread that if you dont get covered by the coucnils mpi they dont have to lend to you so at least they are accepting your private quote

I don't know where they got this information but I was told the opposite by different CCs.
If you are refused you can go on and get a private.
Unfortunately each CC gives a different information.
I was even told by one of them that if both applicants are refused MPI then both can go on private and they would not have to pay the MPI with the CC.

BKWDR · 04-11-2020 10:21pm

Nexus26 wrote: »

I don't know where they got this information but I was told the opposite by different CCs.
If you are refused you can go on and get a private.
Unfortunately each CC gives a different information.
I was even told by one of them that if both applicants are refused MPI then both can go on private and they would not have to pay the MPI with the CC.

It's in the credit policy that you need to take the insurance from the government scheme to get the loan. That's across all councils.
If they decide to let you get equivilant cover elsewhere it sounds like it's at their discretion. If both applicants can't get cover by councils scheme you don't have to pay it but it's up to the council if they let you advance to getting the loan

SCLW89 · 04-11-2020 10:30pm

Sarahedel1991 wrote: »

Hi there I'm new to this thread, it's so helpful! So I submitted my application to cork county council 3 weeks ago.

I just received an email saying "Your application came back from the Housing Agency this morning. The next step is the Credit Committee meeting which is next week."

Does this mean they make a decision then after the meeting? Does anybody know what this meeting entails?

Also, does it go to the underwriters after this meeting?

Any help or advice is much appreciated.

Just sent in my application to Cork co co yesterday! So really great to hear you were only waiting 3 weeks to hear something! Best of luck with it!

Salanky · 04-11-2020 10:45pm

Signed the last bit of paperwork this morning, council solicitor has the money in their account just waiting on three bits of info from the sellers solicitor and its all done and dusted.

phobia2011 · 04-11-2020 10:55pm

Salanky wrote: »

Signed the last bit of paperwork this morning, council solicitor has the money in their account just waiting on three bits of info from the sellers solicitor and its all done and dusted.

Brilliant stuff, how long have you been waiting for the solicitors To get sorted, we are 3 weeks and still nothing from him. Have been told money is with council solicitors. The waiting/ check for emails would drive you nuts.

Salanky · 04-11-2020 11:11pm

phobia2011 wrote: »

Brilliant stuff, how long have you been waiting for the solicitors To get sorted, we are 3 weeks and still nothing from him. Have been told money is with council solicitors. The waiting/ check for emails would drive you nuts.

My solicitors have been on at them since contracts were sent to them in the middle of August. Im sale agreed 15 weeks tomorrow and the contracts had been already drawn up as the house was sale agreed twice before I came along. They have sent the letters again today by courier and email and are gonna ring them again tomorrow to get it. They are waiting on the sellers pps number, the letter to say the council look after roads and services not a management company and the sellers solicitors PI number. Its three simple things that would take all of 10 seconds to send across.

Rebuilding Ireland home loan

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