Rebuilding Ireland home loan

Cheesepuffs · 28-06-2020 7:51pm

Got our loan offer last week, how much are people paying for MPI.

My pack says MPI is €100 per month but Aviva quoted €19 a month.

Maz2016 · 28-06-2020 8:33pm

Cheesepuffs wrote: »

Got our loan offer last week, how much are people paying for MPI.

My pack says MPI is €100 per month but Aviva quoted €19 a month.

€100 sounds about right. Depends on the value of the mortgage of course. The mpi with the council is extremely expensive

Shellzer123 · 29-06-2020 10:08am

Cheesepuffs wrote: »

Got our loan offer last week, how much are people paying for MPI.

My pack says MPI is €100 per month but Aviva quoted €19 a month.

What council is it with? Mine is €106 per month and that you have to take it, its a clause with the County Council mortgage. Its a bit steep but its worth it considering they are lending you more than the banks are.

Shellzer123 · 29-06-2020 10:09am

Any body receive a loan pack from Fingal County Council in the last week or so?

gnr vr fan · 29-06-2020 7:52pm

Hi everyone.

Just an update. I have gone sale agreed on a property.

In light of the COVID-19 the Council (SDCC) had requested the following;

Statement of Benefits from Department of Social Welfare to state I had not received any unemployment benefit.

New Salary Cert (which stated we were on the government wage subsidy scheme (GWSS)

3 months worth of payslips (which unfortunately showed my wages were decreased to 70%, then up to 85%, then up to 100% and the last payslip (last weeks which shows we are off the GWSS)

I've submitted all the above and its going to credit committee.

I'll keep ye updated with what the credit committee comes back with.

phobia2011 · 29-06-2020 8:33pm

Can anyone give me a link to the mortgage calculator that you can screenshot to use as you insufficient offer, I have one but there is not much detail on it just a section saying how much I can borrow but with no bank name even in view?

Shamboo1801 · 29-06-2020 8:56pm

Shellzer123 wrote:

What council is it with? Mine is â‚¬106 per month and that you have to take it, its a clause with the County Council mortgage. Its a bit steep but its worth it considering they are lending you more than the banks are.

Your MPI is .55% of your outstanding balance. Take your total amount, divide by 100, multiply by .55 then divide by 12. That will give you your mpi per month. Goes down a few euro each year.

Sulli83 · 30-06-2020 12:41pm

gnr vr fan wrote: »

Hi everyone.

Just an update. I have gone sale agreed on a property.

In light of the COVID-19 the Council (SDCC) had requested the following;

Statement of Benefits from Department of Social Welfare to state I had not received any unemployment benefit.

New Salary Cert (which stated we were on the government wage subsidy scheme (GWSS)

3 months worth of payslips (which unfortunately showed my wages were decreased to 70%, then up to 85%, then up to 100% and the last payslip (last weeks which shows we are off the GWSS)

I've submitted all the above and its going to credit committee.

I'll keep ye updated with what the credit committee comes back with.

Hope it's a positive outcome for you!!

We had a meeting with Wicklow CC this morning, it's looking like a formality for us now that we will be given the loan unless stipulations from the department or our circumstances change over the next few weeks.

Just a heads up though we were informed today that in order to draw down you will have to be off TWSS for 2 full months, we are currently 6 weeks off it at this point. The admins were great today and said they would attempt to push the application along even though we weren't the full 2 months off TWSS yet.

phobia2011 · 01-07-2020 10:35am

phobia2011 wrote: »

Can anyone give me a link to the mortgage calculator that you can screenshot to use as you insufficient offer, I have one but there is not much detail on it just a section saying how much I can borrow but with no bank name even in view?

Bump

beanyb · 01-07-2020 10:50am

phobia2011 wrote: »

Can anyone give me a link to the mortgage calculator that you can screenshot to use as you insufficient offer, I have one but there is not much detail on it just a section saying how much I can borrow but with no bank name even in view?

The Permanent TSB one allows you to download it and it'll show the information you put into it. I also used the Ulster Bank one which was just a screenshot and they accepted that fine. I wouldn't overthink it.

Jafin · 01-07-2020 11:50am

phobia2011 wrote: »

Can anyone give me a link to the mortgage calculator that you can screenshot to use as you insufficient offer, I have one but there is not much detail on it just a section saying how much I can borrow but with no bank name even in view?

As BeanyB posted above you can download the Permanent TSB one. Make sure to check with your local CC if they will actually accept it though. My local CC originally said they would accept it but then when I gave it to them they said they couldn't accept it. Luckily I had gotten approval in principle from PTSB a few months prior to that so I just asked them for the same approval in principle with a more recent date and I was able to hand that in instead. For my second piece of evidence I used a letter of approval in principle from AIB. You can get that all online without ever having to talk to an actual person, so I would definitely advised getting the online approval in principle from AIB if you can.

phobia2011 · 01-07-2020 1:39pm

Jafin wrote: »

As BeanyB posted above you can download the Permanent TSB one. Make sure to check with your local CC if they will actually accept it though. My local CC originally said they would accept it but then when I gave it to them they said they couldn't accept it. Luckily I had gotten approval in principle from PTSB a few months prior to that so I just asked them for the same approval in principle with a more recent date and I was able to hand that in instead. For my second piece of evidence I used a letter of approval in principle from AIB. You can get that all online without ever having to talk to an actual person, so I would definitely advised getting the online approval in principle from AIB if you can.

Thanks for the replies, does it have to be an approval? If I was declined would that be the same?

Jafin · 01-07-2020 2:01pm

phobia2011 wrote: »

Thanks for the replies, does it have to be an approval? If I was declined would that be the same?

Oh yeah I was very confused about all this before I started too actually. So you don't need to be refused at all, you just need to be offered an insufficient amount. For example if you want a mortgage of €175,000 but the banks only offer you €150,000 then that counts as an insufficient offer, which is what you need to qualify for the scheme. In my experience the banks didn't refuse me, they just offered me a very low amount. If you have actually been refused then that should work just as well, but contact your local CC to be 100% sure. In my experience they've always been very helpful when I've needed advice.

For me personally the banks were offering me between €75,000 and €85,000, but the online calculator for the Rebuilding Ireland Home Loan Scheme said I could get up to €116k and some odd number of euro. What I did was get my two letters of Approval in Principle from two banks for around €80,000 each and then applied for €115,000 from the RIHL Scheme. Those letters were perfectly acceptable evidence of "insufficient offers."

jenpenjelly · 01-07-2020 4:24pm

Hi, just starting this mad process now and I can't figure out how to send my employer my salary cert over email without sending the whole application form to them. Is there a link available anywhere?
Thanks

Jafin · 01-07-2020 4:44pm

jenpenjelly wrote: »

Hi, just starting this mad process now and I can't figure out how to send my employer my salary cert over email without sending the whole application form to them. Is there a link available anywhere?
Thanks

If you open the whole file in your PDF reader, go to Print and then go to the drop down menu which shows your installed printer(s) there should be an option called Microsoft Print to PDF. Select that, and then under where it says Pages to Print change the selection from "All" to "Pages" and then type in the page number (which should be 12). After that click Print and it will bring up a window which allows you to save just that page as a separate PDF, which you can then email on to your employer.

jenpenjelly · 01-07-2020 6:12pm

Jafin wrote: »

If you open the whole file in your PDF reader, go to Print and then go to the drop down menu which shows your installed printer(s) there should be an option called Microsoft Print to PDF. Select that, and then under where it says Pages to Print change the selection from "All" to "Pages" and then type in the page number (which should be 12). After that click Print and it will bring up a window which allows you to save just that page as a separate PDF, which you can then email on to your employer.

Thank you so much

mirabella1 · 03-07-2020 6:51pm

Hello there. I need your help. When we applied for first time we had car loan. Now we finish with car loan so we don't have it. Can we apply again or we have to wait at least for 6mths because in our bank statement still will be that car loan. Thank you

L1011 · 03-07-2020 8:16pm

You can apply now, the loan will be closed on your credit file.

mirabella1 · 03-07-2020 8:25pm

Another question I have. How much is the best amount of money for regular saving. And weekly or monthly is the best?

Maz2016 · 03-07-2020 9:05pm

mirabella1 wrote: »

Another question I have. How much is the best amount of money for regular saving. And weekly or monthly is the best?

Weekly/monthly doesn’t matter. Just make it consistent. They want to see that you are paying the monthly loan repayment now in rent or savings.

Maz2016 · 03-07-2020 9:07pm

mirabella1 wrote: »

Another question I have. How much is the best amount of money for regular saving. And weekly or monthly is the best?

Weekly/monthly doesn’t matter. Just make it consistent. They want to see that you are paying the monthly loan repayment now in rent or savings.

mirabella1 · 03-07-2020 9:29pm

Maz2016 wrote: »

Weekly/monthly doesn’t matter. Just make it consistent. They want to see that you are paying the monthly loan repayment now in rent or savings.

We are paying rent 1.300 . But I want to have regular saving as well.

mirabella1 · 03-07-2020 9:30pm

Maz2016 wrote: »

Weekly/monthly doesn’t matter. Just make it consistent. They want to see that you are paying the monthly loan repayment now in rent or savings.

We are paying rent 1.300 . But I want to have regular saving as well.

mirabella1 · 03-07-2020 10:47pm

Lwoods90 wrote: »

Our application was rejected even though our rent is 14% higher then monthly repayments.

I wrote them a letter using the quote on the RBH website, so gone for appeal

What is it letter the quote RBH?

becx84 · 04-07-2020 12:13pm

Hi just wondering if anyone has dealt with the Wexford county council for applying for a rebuilding Ireland mortgage? Thanks

becx84 · 04-07-2020 1:51pm

deedee26 wrote: »

I signed 25th March, as solicitor had received cheque a few days before. With the social distancing it was all done by registered post. I was very lucky, can't imagine the stress of needing lots of paperwork all over again.

Hi which county council did you go through? Thanks

becx84 · 04-07-2020 2:13pm

Haloumi2020 wrote: »

I have been given an extension and now have my meeting with the council to move to drawing down the loan. I am so relieved.

It's been very hard being patient but there are only 3 members of staff working on the Rebuilding loans in my council and they are having to reassess or check every loan. So to the poster that mentioned emailing every week, I wouldn't. Can you imagine the work they have.

Fingers crossed we may nearly be there

Can I asked which county council your using as everyone seems to have a different time scale ðŸ˜¥ thanks

Flumpmuncher · 04-07-2020 3:40pm

Hi,

Has anyone else gone through the while process with Galway CoCo at all? We got our approval in principle earlier this year and have gone sale agreed on a house about 4 weeks ago, we were asked for our paperwork again and to fill in a covid form. Does anyone have any idea roughly how long we will be waiting now to hear they are approving it all, or what happens next?

Thanks

mirabella1 · 04-07-2020 9:11pm

Pussyhands wrote: »

What type of calculators? Any links?

But on that screenshot online calculator will be no name...

mirabella1 · 04-07-2020 10:16pm

trudy2222 wrote: »

No but you can apply online with AIB online and get approval in Principle and they give you a letter you can print yourself.

And another one can you do from which bank same way as aib?

Rebuilding Ireland home loan

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