Rebuilding Ireland home loan

Milenauno · 18-04-2019 12:19pm

Does anyone have to recommend a property solicitor in Dublin who already delt with Rebuilding Ireland? Thanks!

Quinnciara · 23-04-2019 11:16am

Has anyone any update on their process thus far?

jonny_b1 · 23-04-2019 11:33am

Quinnciara wrote: »

Has anyone any update on their process thus far?

Submitting paperwork today for a property we have found. Called beforehand to confirm what's needed to be sure. Cork Coco

Jmk725 · 23-04-2019 12:47pm

Quinnciara wrote: »

Has anyone any update on their process thus far?

Still waiting on Council solicitor to request the funds from the council.
Seller currently finalising purchase of their new house so they are waiting to sign the contract once that is finished.

Ukelele! · 23-04-2019 12:50pm

Quinnciara wrote: »

Has anyone any update on their process thus far?

Been told officially my funds will be with my solicitor Friday. Paid off the remaining amount with my own solicitor, hoping to get keys next week!

DianeMc2018 · 23-04-2019 6:28pm

Can someone clarify for me a question around eligibility for this homeloan. The 75K threshold for couples is stated on the website as 'cannot exceed 75K (gross)'. We're self-employed and while our gross would exceed this amount, by the time we deduct expenses it is significantly less. Is eligibility based on taxable income or is it really the full gross amount earned by couple - despite the fact that we wouldn't pay tax on the full amount ever.

Jmk725 · 24-04-2019 9:16am

DianeMc2018 wrote: »

Can someone clarify for me a question around eligibility for this homeloan. The 75K threshold for couples is stated on the website as 'cannot exceed 75K (gross)'. We're self-employed and while our gross would exceed this amount, by the time we deduct expenses it is significantly less. Is eligibility based on taxable income or is it really the full gross amount earned by couple - despite the fact that we wouldn't pay tax on the full amount ever.

As far as I am aware, it would be based on your taxable income, take the income from your Form 11 return.

autumnbelle · 24-04-2019 9:50am

DianeMc2018 wrote: »

Can someone clarify for me a question around eligibility for this homeloan. The 75K threshold for couples is stated on the website as 'cannot exceed 75K (gross)'. We're self-employed and while our gross would exceed this amount, by the time we deduct expenses it is significantly less. Is eligibility based on taxable income or is it really the full gross amount earned by couple - despite the fact that we wouldn't pay tax on the full amount ever.

Definiitely your taxable income (after the expenses)

sarah88 · 24-04-2019 1:16pm

Has anyone successfully appealed a decision? I'm going through this at the moment and wondering how long it usually takes. Thanks in advance.

Ukelele! · 24-04-2019 1:21pm

sarah88 wrote: »

Has anyone successfully appealed a decision? I'm going through this at the moment and wondering how long it usually takes. Thanks in advance.

I did. My application was denied and they gave the reasons why they were denying it. And i just sent them a letter and evidence showing that their argument basically made no sense, and about 4 weeks later, I got a letter to say my appeal was successful

sarah88 · 24-04-2019 1:35pm

Ukelele! wrote: »

I did. My application was denied and they gave the reasons why they were denying it. And i just sent them a letter and evidence showing that their argument basically made no sense, and about 4 weeks later, I got a letter to say my appeal was successful

Thanks for the quick reply Ukelele, glad to hear that it worked out for you. Thanks for the info

Jmk725 · 24-04-2019 2:11pm

sarah88 wrote: »

Has anyone successfully appealed a decision? I'm going through this at the moment and wondering how long it usually takes. Thanks in advance.

Same as above. Once you appeal it they have to respond within 4 weeks.
I was originally denied, appealed and won.

Emma237 · 25-04-2019 11:48am

Hi I'm a planning to make a single application this month. I'm a primary school teacher and each month pay approximately 220 euro towards pensions, voluntarily avcs, salary protection etc this makes my monthly take home pay much lower than my salary. Would this be taken into account during the application or should I reduce some of my voluntary payments? I'm worried that these payments will influence the affordability check.
Any advice would be appreciated,
Thanks in advance.

bakerie · 25-04-2019 10:44pm

Hi,

Does anyone know what's happening with this scheme?

I seen that the central bank said everything with the scheme looked good and they would be happy to keep it going, but nothing seems to have happened since then.

I went to apply to the local coco and was told that they could take the application but none are being processed as they are waiting for word from above.

Quinnciara · 26-04-2019 7:14am

Everything set in stone with the vendors and solicitors since last week , my solicitor requested the cheque last Monday and I sent over insurance details and I've emailed every day aswel as called and still no update from DCC . So frustrating that they can't just give you an update. Supposed to close today then it was moved to next Wednesday now I don't know when it will be.

bubbles46 · 26-04-2019 8:49am

Quinnciara wrote: »

Everything set in stone with the vendors and solicitors since last week , my solicitor requested the cheque last Monday and I sent over insurance details and I've emailed every day aswel as called and still no update from DCC . So frustrating that they can't just give you an update. Supposed to close today then it was moved to next Wednesday now I don't know when it will be.

Similar to me,CoCo solicitor advised that they can drawdown the money last Friday. My file was sent to the finance Dept. this week and they say that cheque should be ready by next Friday,hoping to get the keys the week after that. My solicitor seems confident of that anyway. Its a long process but we're almost there!

Emma237 · 26-04-2019 4:41pm

bakerie wrote: »

Hi,

Does anyone know what's happening with this scheme?

I seen that the central bank said everything with the scheme looked good and they would be happy to keep it going, but nothing seems to have happened since then.

I went to apply to the local coco and was told that they could take the application but none are being processed as they are waiting for word from above.

I'd love to know this too. What council did you apply to? I'm planning to apply to Kildare. I would love to know if anyone has got approval since all the fuss in February and March??

Hopefully they will provide funding...best of luck with your application!

swarmberg · 26-04-2019 4:52pm

Emma237 wrote: »

I'd love to know this too. What council did you apply to? I'm planning to apply to Kildare. I would love to know if anyone has got approval since all the fuss in February and March??

Hopefully they will provide funding...best of luck with your application!

Kildare haven't been processing applications since October. They were the first county to run out of money. Even if more funding is approved it will do well to cover the existing applicants that have applications pending for over 6 months. Just a word of warning you will be at the bottom of a fairly big pile at this stage.

I got my initial approval from Fingal at the end of February but there have been no updates from the underwriters etc since.

bakerie · 26-04-2019 5:20pm

Thanks Emma, same to you!

swarmberg wrote: »

Kildare haven't been processing applications since October. They were the first county to run out of money. Even if more funding is approved it will do well to cover the existing applicants that have applications pending for over 6 months. Just a word of warning you will be at the bottom of a fairly big pile at this stage.

I got my initial approval from Fingal at the end of February but there have been no updates from the underwriters etc since.

Thanks for the info swarmberg, that's extremely depressing.

Slavi Pavlov · 26-04-2019 9:10pm

Quinnciara wrote: »

Everything set in stone with the vendors and solicitors since last week , my solicitor requested the cheque last Monday and I sent over insurance details and I've emailed every day aswel as called and still no update from DCC . So frustrating that they can't just give you an update. Supposed to close today then it was moved to next Wednesday now I don't know when it will be.

Hi Ciara, judging by my experience if the council has the funds ready to go for you, you should be getting a call from them to schedule a date to visit them and sign your direct debit mandate that is the final step of getting your funds and last time you’ll be visiting them. After you sign your documents it’s a matter of hours for funds to go from the council to the council solicitor and then it’s all about communication between both yours and theirs solicitor to get it sorted but you can imagine that will not take more than a day.
I hope all goes quick for you and you’ll have it sorted soon!

Evenstevens · 26-04-2019 9:50pm

a query on the Family Home Declaration form for DCC. My solicitor has just sent me a draft of that document. Not witnessed yet etc.Is that sufficient for giving back to the council for the Form 3 stage?

Quinnciara · 27-04-2019 7:48am

Evenstevens wrote: »

a query on the Family Home Declaration form for DCC. My solicitor has just sent me a draft of that document. Not witnessed yet etc.Is that sufficient for giving back to the council for the Form 3 stage?

Yes my solicitor just emailed me over a draft, I sent it onto them and that was fine. I signed the actual form when I was signing contracts

Evenstevens · 27-04-2019 10:20pm

Quinnciara wrote: »

Yes my solicitor just emailed me over a draft, I sent it onto them and that was fine. I signed the actual form when I was signing contracts

Great. Thanks for that.

Dawido · 28-04-2019 4:53pm

Can anyone quickly tell me something,

I saw that there is requirement to be rejected from 2 banks. What's the point of applying if the bank can't offer enough money (I earn 32,600 per year) which means maximum I'd get is 114,100 - property I want costs 160/170??

Also I suspect the medical thing where you buy insurance will not work for me cause I think I am pretty sick and unhealthy but wot can you do, can you go without with Rebuilding Ireland Home Loan?

Thanks guys

bakerie · 28-04-2019 5:00pm

Dawido wrote: »

Can anyone quickly tell me something,

I saw that there is requirement to be rejected from 2 banks. What's the point of applying if the bank can't offer enough money (I earn 32,600 per year) which means maximum I'd get is 114,100 - property I want costs 160/170??

Because demz da rules.

It's a pain in the absoloute hole as the banks make it difficult to get the letters as they don't want to be seen as refusing mortgages.

Bank of Ireland will not deny any mortgage application, but instead will supply you with a mortgage of 114k instead of refusing you. Which as you pointed out is useless. I certainly won't ever bank with the ***** after that. I spent ages with them.

AIB was sound about it (big plus one for them, will be using them for everything else in future).

KBC require you go through a full blown mortgage application which is a right pain, but at least they will go through it for you. Be warned that the standard letter that KBC will give you only states that they couldn't supply you with a mortgage and does not state the amount you applied for (this is listed as a requirement on the RIHL website). I haven't been approved yet, but my local coco was sound enough about this as I was able to show them the mortgage application I submitted.

^just some helping tips if you're going looking for letters.

Evenstevens · 28-04-2019 5:52pm

Dawido wrote: »

Can anyone quickly tell me something,

I saw that there is requirement to be rejected from 2 banks. What's the point of applying if the bank can't offer enough money (I earn 32,600 per year) which means maximum I'd get is 114,100 - property I want costs 160/170??

Also I suspect the medical thing where you buy insurance will not work for me cause I think I am pretty sick and unhealthy but wot can you do, can you go without with Rebuilding Ireland Home Loan?

Thanks guys

It's just a hoop that has to be jumped through. It's not really a rejection anyway in many cases it's really just an official statement of what the bank will actually give you so the council can consider you for the higher amount. I did the AIB one online and that was sufficient. Had to do the full blown KBC one but has to be done. It's worth it though if longterm you succeed in getting the loan you need.

Darkglasses · 28-04-2019 6:23pm

Dawido wrote: »

Also I suspect the medical thing where you buy insurance will not work for me cause I think I am pretty sick and unhealthy but wot can you do, can you go without with Rebuilding Ireland Home Loan?

Thanks guys

You need insurance to cover your mortgage repayments in the event of death or disability. There's a group scheme which it sounds likely you wouldn't qualify for, in which case you need to find equivalent independent cover

Stekell · 29-04-2019 12:08pm

Dawido wrote: »

Can anyone quickly tell me something,

I saw that there is requirement to be rejected from 2 banks. What's the point of applying if the bank can't offer enough money (I earn 32,600 per year) which means maximum I'd get is 114,100 - property I want costs 160/170??

Also I suspect the medical thing where you buy insurance will not work for me cause I think I am pretty sick and unhealthy but wot can you do, can you go without with Rebuilding Ireland Home Loan?

Thanks guys

You need to confirm insufficient offers of finance from the bank. So if you get offered 114,100 its below what your applying to RI for so that will do. We applied with BOI and Ulster Bank over the phone and they emailed us the figure they were offering subject to approval, council said that was perfect when we applied

GlowStick · 30-04-2019 8:35am

Did everyone have to get a medical cert from your doctor to say you're ok for the mpi? I thought i remembered people saying here that their doctor had to sign off on something to say they had no major illnesses.

I'm nearly at the end of this whole thing (getting keys next week) and i never had to do that, so was just curious

Jmk725 · 30-04-2019 8:58am

GlowStick wrote: »

Did everyone have to get a medical cert from your doctor to say you're ok for the mpi? I thought i remembered people saying here that their doctor had to sign off on something to say they had no major illnesses.

I'm nearly at the end of this whole thing (getting keys next week) and i never had to do that, so was just curious

I had to get a letter from my GP stating I haven't been out sick in last 3 years apart from back ache, flu or influenza.
In my case it said I wasn't with my GP since 2013.

Congrats on getting keys next week.

Quinnciara · 30-04-2019 8:03pm

After been given a closing date of 26th of April then it been pushed forward to tomorrow, there is still no sign of the cheque. I sent over my insurance 2 weeks ago. All my emails were ignored last week. My solicitor requested the cheque 2 weeks ago. He rang the council on Monday to be told I never sent over my insurance details, I had to resend them literally on the same email thread they were sent on 2 weeks ago. Then to be told today on the phone that my mortgage protection form needs to be resigned AGAIN for the 3rd time but she sensed my frustration and said she will request the cheque today any way... Only today after them telling my solicitor 2 weeks ago they had requested it. Anyway apart from the rant this is just to remind people to make sure everything is in order then check again then check with the council every few days because they will not tell you unless you call them that there is an issue.

delboy08 · 30-04-2019 8:28pm

thanks for the heads up. we are after getting our offer accepted today. so I now have to get all the forms sorted. Tomorrow im putting my booking deposit down and also iv to send my mortgage approved letter to the estate agent. i hope they dont get put off because its RBI loan. ðŸ˜‘.

KeithChicken · 01-05-2019 9:49am

Quinnciara wrote: »

After been given a closing date of 26th of April then it been pushed forward to tomorrow, there is still no sign of the cheque. I sent over my insurance 2 weeks ago. All my emails were ignored last week. My solicitor requested the cheque 2 weeks ago. He rang the council on Monday to be told I never sent over my insurance details, I had to resend them literally on the same email thread they were sent on 2 weeks ago. Then to be told today on the phone that my mortgage protection form needs to be resigned AGAIN for the 3rd time but she sensed my frustration and said she will request the cheque today any way... Only today after them telling my solicitor 2 weeks ago they had requested it. Anyway apart from the rant this is just to remind people to make sure everything is in order then check again then check with the council every few days because they will not tell you unless you call them that there is an issue.

Sorry to hear that. I have been told by DCC that my cheque is being sent out next Tuesday. Anyone know who long it takes to drawdown on? Like if my solicitor receives the cheque on Wednesday could we realistically close on Friday?

Ukelele! · 01-05-2019 3:23pm

KeithChicken wrote: »

Sorry to hear that. I have been told by DCC that my cheque is being sent out next Tuesday. Anyone know who long it takes to drawdown on? Like if my solicitor receives the cheque on Wednesday could we realistically close on Friday?

My funds arrived to my solicitor on a Friday and i got my keys the following Tuesday

Ukelele! · 01-05-2019 3:26pm

Just a question for anyone that's finished the whole process... I've got my home insurance and the council are looking for a copy of the fire cover documents. Anyone know what part of the home insurance this is? Or is it something extra I should've gotten? I did get the council indemnified on the policy and thought this was sufficient, but now I'm not sure

Len_007 · 01-05-2019 3:43pm

Just to say I've appreciated everyone's contribution to this thread, I've read the majority of the back and forth. I delivered my own forms in to my local council (DLR) a week ago today. Although I was told not to hold my breath as there has been no update from our Government on funds for 2019. Let's hope we hear something soon.

swalsh86 · 02-05-2019 11:10am

Just went sale agreed on our house yesterday. Now for all the paper work etc.

swalsh86 · 02-05-2019 11:38am

Any information on the next steps after going sale agreed is much appreciated :-)

Evenstevens · 02-05-2019 2:30pm

swalsh86 wrote: »

Any information on the next steps after going sale agreed is much appreciated :-)

Basically now you need to get moving on the documents listed on Form 3 of the pack you would have got out with your offer letter. There's a number of different things (bank statements, surveys etc). I'm just getting the last of those together and have to head into council next week with them along with Form 1 , 2 and 3 filled out.

swalsh86 · 02-05-2019 2:50pm

Evenstevens wrote: »

Basically now you need to get moving on the documents listed on Form 3 of the pack you would have got out with your offer letter. There's a number of different things (bank statements, surveys etc). I'm just getting the last of those together and have to head into council next week with them along with Form 1 , 2 and 3 filled out.

We never received a pack with our letter. Just a valuation report to get filled out. They said in the letter we need to get an engineers report, drains report and valuation report as well as up to date bank statements and payslips. Wonder why we never got sent out a pack.

Jmk725 · 02-05-2019 2:54pm

swalsh86 wrote: »

We never received a pack with our letter. Just a valuation report to get filled out. They said in the letter we need to get an engineers report, drains report and valuation report as well as up to date bank statements and payslips. Wonder why we never got sent out a pack.

Contact them and get them to send you a letter/email detailing exactly what you need to send them and if they have any forms that they need for you to fill out.
I had 2 forms and numerous letters from GP, employer, valuation, engineers report, bank statements, payslips, mortgage agreement, DD Mandate, etc.

Evenstevens · 02-05-2019 2:54pm

swalsh86 wrote: »

We never received a pack with our letter. Just a valuation report to get filled out. They said in the letter we need to get an engineers report, drains report and valuation report as well as up to date bank statements and payslips. Wonder why we never got sent out a pack.

I'm with DCC but knowing councils they probably all have their own ways of administering the scheme and all do it differently! Best thing is just to ring them and advise you've gone sale agreed and where should you go from here. I had to get a letter from work to state haven't been sick for more than 3 weeks, same from GP, survey, valuation survey, bank statements etc.

bakerie · 03-05-2019 12:21am

Now that the central bank have given their blessing, what are we waiting on now for this scheme to start up again? Whose court is the ball in now?

Darkglasses · 03-05-2019 7:35am

bakerie wrote: »

Now that the central bank have given their blessing, what are we waiting on now for this scheme to start up again? Whose court is the ball in now?

Dept of Public Expenditure & Reform, I suspect. If you were cynically minded, you could surmise that the govt are stalling it until nearer the local elections to give their candidates a boost.

bakerie · 03-05-2019 8:20am

Darkglasses wrote: »

Dept of Public Expenditure & Reform, I suspect. If you were cynically minded, you could surmise that the govt are stalling it until nearer the local elections to give their candidates a boost.

What would the reason be? That they are going to cancel it and don't want negativity around the elections?

Darkglasses · 03-05-2019 11:51am

It's very unlikely to be cancelled - it's a good scheme for the govt and not that expensive as a housing support - it's not like they're dumping money into something that's never to be seen again. Its possible they're leaving the announcement of further funding to nearer the election day to try to boost positivity around FG. The wisdom of that can be debated if it's actually the case. The many many people left in limbo for months may not appreciate the wait

Shaun__90 · 03-05-2019 3:00pm

Hi, I've currently sent off my joint application, in my main job i am earning €28,000 not including overtime which brings me up to around €35,000, I also am a retained fire fighter and i'm averaging €30,000 a year but i'm only guaranteed €11,000 (retainer) a year as the rest is made up from call outs (averaged based on my last 3 p60s). Does anyone know do they average out your p60s/payslips or is it calculated only on guaranteed income? i also have the 10% deposit saved.

Shaun__90 · 03-05-2019 3:01pm

Hi, I've currently sent off my joint application, in my main job i am earning €28,000 not including overtime which brings me up to around €35,000, I also am a retained fire fighter and i'm averaging €30,000 a year but i'm only guaranteed €11,000 (retainer) a year as the rest is made up from call outs (averaged based on my last 3 p60s). Does anyone know do they average out your p60s/payslips or is it calculated only on guaranteed income? i also have the 10% deposit saved.

elizunia87 · 06-05-2019 6:58pm

Hi Everyone,

I have a question, might sound silly. For the Rebuilding Ireland, once we meet the criteria for the scheme, do we get help? Of course if there is still budget within co. Can we be excluded for any other reason?

Can someone tell me how is the situation in Dublin 8/ 12 with bids with the houses less than 300k? We are interested only in this area and we do not know how many people is looking for the houses in this part of the city

Thanks a mill

delboy08 · 07-05-2019 11:01am

hi All

Iv gone sale agreed today. Im with DCC. Can anyone recommend who i can get for a valuation report and an engineers survive? Thanks

Rebuilding Ireland home loan

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