Rebuilding Ireland home loan

stresshead101 wrote: »

I was with Dublin City Council and they didn't send an engineer.. We were responsible for arranging one ourselves and just submitted the final report to them when complete.
I'm not sure if its the same process for all councils.

I'm the same and its with Louth, had to get the survey and valuation done by myself.

dawidnowak2005 wrote: »

We just got message from Kildare coco , they still deal with backlog from 2019 and we are 29 on the waiting list for 2020, slim chances for loan in this year:-(

I was told exactly the same thing from Kildare county council but we are 30th on the waiting list for 2020! Hopefully they will get through the applications quickly! Best of luck with the application!

shawki wrote: »

If your Income goes up in the meantime, Would they consider that extra amount or just go by your income at the time of the application?

I'm sale agreed at the moment and I had to send new payslips.. new bank statements.. new proof of savings... letter from both employers stating no change in job circumstances...

Anyone recommend a solicitor in Dublin that has dealt with the RI scheme

MaddogMC wrote: »

Anyone recommend a solicitor in Dublin that has dealt with the RI scheme

<SNIP>

jill_valentine wrote: »

Thanks again for this.

Just as information for anybody at the same stage - I posted my app to this address at DCC Friday, got a call today (Wednesday) to tell me things look good bar one minor doc, which I managed to scan in and return by email within about two hours.

Recieved a mail confirming my app would then be sent to the underwriters. So far so good, now comes the rest

Any advice on what the next stage is like, and how long it takes? I was given a rough idea of how much I'd be eligible for, and it was more than I expected, so I'm on tenterhooks to have it in writing

It took about 5 weeks for me to get the approval once the docs were submitted but that was back in January so things may have changed a bit. I'd give them a ring in a month or so if you haven't heard anything and they should be able to let you know how things are looking.

Hi there

Does anyone know how Kildare Co co might view this. My OH and I are self-employed and our annual income can fluctuate year on year (for ex. 2019 was quite good and 2018 was so-so). If RI were to only take those 2 years income into account and average it out, we would be €1300 over the combined income threshold of €75K. But if 3 years were taken into account - 2017 too - we are below. What do you reckon our chance are of being accepted with this?

gandalfio wrote: »

For applications made in 2020, they look at your income in 2019 and your current salary. They don't look at previous years.

Has this changed then? I had friends approved on this scheme last year and they had their previous 3 years self-employed income averaged out.

It states on the website that they look for last 2 years of accounts...?

Hi All,

Just read tons of posts here and not sure if its all good or bad news. Congrads to everyone who got approved.

Really want some help with my questions, as our landlord is selling the property and we would like to buy one through rebuild ire.

Me and husband want to apply for rebuild ireland mortgage, as cant get enough from banks having one child.

Husband is in full time for 3 years and I was out of work since end 2018, but started work recently. We are trying to save more and have a gift already.

However curious as a second applicant do I have to be in 12 month employment to be considered for joint application?

Or does my husband have to apply as single applicant, since my income will not count due to me just getting back to work just now?

We do not have any childcare expenses, as I work from home, will that affect the mount we can borrow in a good way?

Thanks in advance,

Dankarl wrote: »

Hi,

We have gone sale agreed and paid the booking deposit.

When should we hear from our solicitor to pay remaining deposit?

D K

You need to tell the council you have gone sale agreed and they will send you forms to fill out so they can send the loan pack out. Part of that is a letter to say you have sent the solicitor the remaining funds so if you don't have their bank details get them so you can send the money to their client account. You also have to sign the mpi forms to get that going too. My contracts are with my solicitor and I'm waiting on the letter from her to say she has the funds and they will issue the loan pack. Once thats sent I can sign it and the contracts then its drawdown for closing.....well as far as I know that's how gonna go.

phobia2011 wrote: »

How much are BER’ at the moment?

Roughly €99

jill_valentine wrote: »

Folks, apologies for the stupid question, but I just want to be absolutely sure and I've had a slightly hazy answer from RI themselves -

I'm expecting to get a decent chunk of money from work in the next few months that I'll add to my deposit.

Hypothetical numbers for handiness sake - let's say I could expect to be approved for 100k, on top of a 10k deposit, making my buying power 110k. If I pull together another 5k between now and actually being approved, does that mean my buying power is now 115k?

In other words, does my significantly increased deposit have any other implications for my RI loan, or (excluding all other considerations like fees etc) am I now free and clear to look for houses in the 115k range-and-counting up until the point I actually find a house?

You can add as much to the house as you want. I got approved for 141k and have gone sale agreed at 175k because I had 40k savings. Once you meet the criteria and have all the required savings records you can add whatever you want (within reason I would imagine) to it once you can explain where its coming from.

Hi,
Just wondering if anyone has applied and been approved in Kildare? Our application is currently in a que.
We wondered if we need to have the legal fees before we're approved or after?

Any help would be great

Hi,

Can I just ask who people are going with for home insurance?

Do you have to include the council on the insurance ?

L

kbman wrote: »

Yes, it'll be in your approval documents.
The Insurance will need to reference the council.

What companies do it ?

Hello. After a year of ups and downs, we are very close to draw down stage (our solicitor says next week). My question is, house insurance - county council requires them to be mentioned in the policy document. When buying a policy online and entering county council as "name of lending institution", will that automatically include co.co. in the policy or do I need to request insurance company to put them in to the policy separately?
Thanks!

Seanom90 wrote: »

Hi guys,

I got a call from the council to ask me a few questions
She said she needed something off me before my application goes to Dublin

My question is does all applications not get decided at a local authority level?
Why would my application go to Dublin?

All applications go to the housing authority where they do credit checks etc and send the file back to the county council with questions and or concern. My understanding is all the loans are underwritten once they come in to the housing authority and sent to the county council.

Credit meeting happens in the county council when they receive the applications back. Then the loans are approved or declined and approval in principle provided.

Hi folks, I have been watching this thread for ages and using all the advice everybody has been giving. Some information would not be relevant to myself as its with a different cc and most of them seem to operate a little differently, so could I put it out there? If someone new is reading the threads would it be better if at the end of each comment or question we might write which County Council, for example we are applying through dcc. Just a suggestion? So atm we are sale agreed, paperwork all signed and completed by surveyors and valuation and mpi form filled and sent back. Today I called dcc and they said they sent the pack to our solicitor yesterday, any ideas on how long it takes from here? Or what's in the pack? When we went sale agreed our solicitor said about 12 weeks? When does the 12 weeks start? When we returned our forms to dcc or when they receive the pack? Really sorry about the long post, thanks very much, woody

Woody. wrote: »

Hi folks, I have been watching this thread for ages and using all the advice everybody has been giving. Some information would not be relevant to myself as its with a different cc and most of them seem to operate a little differently, so could I put it out there? If someone new is reading the threads would it be better if at the end of each comment or question we might write which County Council, for example we are applying through dcc. Just a suggestion? So atm we are sale agreed, paperwork all signed and completed by surveyors and valuation and mpi form filled and sent back. Today I called dcc and they said they sent the pack to our solicitor yesterday, any ideas on how long it takes from here? Or what's in the pack? When we went sale agreed our solicitor said about 12 weeks? When does the 12 weeks start? When we returned our forms to dcc or when they receive the pack? Really sorry about the long post, thanks very much, woody

I'd say your solicitor meant 12 weeks from when you went sale agreed to when you got your keys, but there are lots of things that can cause delays in the process along the way!

The loan pack is the legal agreement and terms for getting the mortgage. Your solicitor will go through it for you and will get you to sign it once it and the contracts for the sale are ready to go. Then you'll move to drawdown after that and then you'll get the keys. But unfortunately it's hard to say how long any of that will take because of all the moving parts. Maybe contact your solicitor on Monday and they should be able to give you a more definite answer.

We have decided to take the council comprehensive insurance for the first year just for one less thing to do as we have been sale agreed for 6 months and are stressed enough with it all without searching for insurance aswell. It reasonable enough but doesn't include contents. (Kkccc)

Dankarl wrote: »

Who is everyone getting their home insurance with ?

(CCC)

We have just signed to accept loan offer. Maybe it is called fire cover but covers for alot more than just fire. Basically anything except contents. We will seek our own next year as we could have probably gotten it for a similar price to include contents but haven't the time or the head space to look right now.

Jafin wrote: »

I didn't even know that was an option. At what stage were you offered this? I currently have my approval in principle and am househunting and the last correspondence I got was a letter with the details of the terms and conditions that I had to email them to confirm I accepted. In it they asked me to let them know if I would be seeking fire cover with them or if I would be getting it privately, but nothing was mentioned about house insurance. (Clare CC)

All of my paperwork is off to the council solicitor and should hopefully have the loan pack issued this week. Contracts are sitting in my solicitors for nearly 3 weeks now, itching to get them signed and get it all done now.