Rebuilding Ireland home loan

syndrome777 · 07-07-2018 6:13pm

question for guys that applied to the scheme.

Is insufficient funds sanction enough or does it have to include decline for a higher amount.

Say if we would qualify for 280k from this scheme, but we were approved by the banks for cca 200.

Are tease AIP's fro 200k enough?

Thank you

LK1988 · 07-07-2018 6:52pm

syndrome777 wrote: »

question for guys that applied to the scheme.

Is insufficient funds sanction enough or does it have to include decline for a higher amount.

Say if we would qualify for 280k from this scheme, but we were approved by the banks for cca 200.

Are tease AIP's fro 200k enough?

Thank you

We submitted an online approval in principle from AIB that had the amount we were approved for and we made sure the second letter from the 2nd bank stated that we were not eligible for 288k because it was outside the lending criteria.

bri007 · 07-07-2018 6:59pm

I read on this form somewhere that people used the online calculators and just printed them off with the AIP amount on them and that was enough?

That's what we are doing, not sure if this is correct or not.

syndrome777 wrote: »

question for guys that applied to the scheme.

Is insufficient funds sanction enough or does it have to include decline for a higher amount.

Say if we would qualify for 280k from this scheme, but we were approved by the banks for cca 200.

Are tease AIP's fro 200k enough?

Thank you

LK1988 · 07-07-2018 7:02pm

bri007 wrote: »

I read on this form somewhere that people used the online calculators and just printed them off with the AIP amount on them and that was enough?

That's what we are doing, not sure if this is correct or not.

I would call the council to double check that. I saw that on here too and rang SDCC and they said no.

bri007 · 07-07-2018 7:06pm

Yeah I got different answers from the chat option on rebuild ireland web site each time I asked about that, some of the criteria they state is different when you eventually apply for it and get assessed!

Does apply for many AIP directly to the banks and filling out applications go against our credit rating if they refuse us totally?

LK1988 wrote: »

I would call the council to double check that. I saw that on here too and rang SDCC and they said no.

syndrome777 · 07-07-2018 7:09pm

LK1988 wrote: »

We submitted an online approval in principle from AIB that had the amount we were approved for and we made sure the second letter from the 2nd bank stated that we were not eligible for 288k because it was outside the lending criteria.

we have AIP from AIB also from online application.
which other lender did you go with and how long did it took?

thanks

LK1988 · 07-07-2018 7:12pm

bri007 wrote: »

Yeah I got different answers from the chat option on rebuild ireland web site each time I asked about that, some of the criteria they state is different when you eventually apply for it and get assessed!

Does apply for many AIP directly to the banks and filling out applications go against our credit rating if they refuse us totally?

No you dont actually go through the process of application with them. You just needed a headed letter from them to say you were eligible for x amount with them due to the lending criteria. I would make appointments with two different mortgage advisors and ask them can they help.

Rebuilding ireland helpline is ironically not helpful because its down to the council.

bri007 · 07-07-2018 7:20pm

Thanks for the info.

Did you tell the banks it was for the rebuilding ireland scheme? I asked bank of Ireland if they would provide a letter and and they said no and I need to make a full application.

LK1988 wrote: »

No you dont actually go through the process of application with them. You just needed a headed letter from them to say you were eligible for x amount with them due to the lending criteria. I would make appointments with two different mortgage advisors and ask them can they help.

Rebuilding ireland helpline is ironically not helpful because its down to the council.

LK1988 · 07-07-2018 7:23pm

bri007 wrote: »

Thanks for the info.

Did you tell the banks it was for the rebuilding ireland scheme? I asked bank of Ireland if they would provide a letter and and they said no and I need to make a full application.

We went into permanent tsb and asked for the 288k and then she felt bad saying no to us so gave us the letter.

autumnbelle · 08-07-2018 8:39pm

Does anyone know what the waiting time is for applications at the minute?

bubbles46 · 11-07-2018 1:11pm

I rang my local authority in Limerick to ask a general question and she said that after I hand in my application,it will take 4-6 weeks at least to be called for an interview. This is the first time Im hearing of an interview. To anyone who has done this,what happened in this interview,I assume they just go through the form again to double check facts?

redmond08 · 11-07-2018 2:07pm

I've been waiting nearly 14 weeks for a response back, very disheartening hearing people getting word back within 7 weeks. Has anyone waited longer then this? I rang today and said it could be another 2 weeks before I hear back!

autumnbelle · 11-07-2018 2:08pm

I have never heard of an interview either. I got told we were declined as there was a judgement out against me (It was some one else with the same name) I got a letter from my solicitor saying it wasnt me. We applied five weeks ago and I think its still at underwriter stage so another good few weeks left I think.
Would love to know how it works will each mortgage stage be drawn down from the council, I wonder is there much of a delay after approval if we are approved

klub44 · 11-07-2018 2:52pm

Do you have to state how much do you want to borrow? Or you can apply for maximum possible amount from cc?

stryker mcqueen · 11-07-2018 3:04pm

klub44 wrote: »

Do you have to state how much do you want to borrow? Or you can apply for maximum possible amount from cc?

When we met with the council they did their sums and told us to the figure to apply for, so I would leave blank until you chat to them.

klub44 · 11-07-2018 4:07pm

stryker mcqueen wrote: »

When we met with the council they did their sums and told us to the figure to apply for, so I would leave blank until you chat to them.

I have two applications aproved from banks, but thats not enough to buy anything on the market, so I'm worry that my aplication will be refused if I will leave a blank space. Does every person who applies has to meet with council rep?

stryker mcqueen · 11-07-2018 4:27pm

klub44 wrote: »

I have two applications aproved from banks, but thats not enough to buy anything on the market, so I'm worry that my aplication will be refused if I will leave a blank space. Does every person who applies has to meet with council rep?

Well you don't have to meet them , but I would recommend it, they basically make sure your application is in order so your not wasting time applying if your missing anything, 2 of the 3 we met were very helpful.

SNNUS · 11-07-2018 6:39pm

redmond08 wrote: »

I've been waiting nearly 14 weeks for a response back, very disheartening hearing people getting word back within 7 weeks. Has anyone waited longer then this? I rang today and said it could be another 2 weeks before I hear back!

That's awful, more than double the wait of anyone else, your county council are a disgrace.

bubbles46 · 11-07-2018 7:19pm

I know the checklist says 12 months bank statements are required but I saw somewhere that some people submitted 6 months(which is what banks require)and there wasnt an issue..Can anyone confirm or deny?!!

Darkglasses · 11-07-2018 7:37pm

bubbles46 wrote: »

I know the checklist says 12 months bank statements are required but I saw somewhere that some people submitted 6 months(which is what banks require)and there wasnt an issue..Can anyone confirm or deny?!!

The old scheme only requested 6 months of current account statements, that may have caused confusion.

bubbles46 · 11-07-2018 7:44pm

Darkglasses wrote: »

The old scheme only requested 6 months of current account statements, that may have caused confusion.

Ok thanks. Ive come to learn that every county council will accept different things for this. Example the checklist says original bank statements but when i rang my local council,she said E-Statements will suffice. A year seems excessive but i guess id better get back to my desktop then!

LK1988 · 12-07-2018 10:31am

Just got a call from SDCC saying the credit committee wont be sitting until August because they have not got their allocated funding from the government and wont until then.

Does anybody know if this is because the government has gone on their rediculously long and overpaid holiday?

Peanut99 · 12-07-2018 12:11pm

redmond08 wrote: »

I've been waiting nearly 14 weeks for a response back, very disheartening hearing people getting word back within 7 weeks. Has anyone waited longer then this? I rang today and said it could be another 2 weeks before I hear back!

I have been waiting 15 weeks and still no word. Incredibly frustrating.

autumnbelle · 12-07-2018 12:24pm

LK1988 wrote: »

Just got a call from SDCC saying the credit committee wont be sitting until August because they have not got their allocated funding from the government and wont until then.

Does anybody know if this is because the government has gone on their rediculously long and overpaid holiday?

Is this the same with all councils?

autumnbelle · 12-07-2018 12:25pm

Peanut99 wrote: »

I have been waiting 15 weeks and still no word. Incredibly frustrating.

What council is this with?

Mark Hamill · 12-07-2018 2:42pm

Has anyone gotten as far as sale agreed or even purchased a property through this scheme? Did you get a bill from the Councils solicitor after going sale agreed?

SNNUS · 12-07-2018 10:51pm

Mark Hamill wrote: »

Has anyone gotten as far as sale agreed or even purchased a property through this scheme? Did you get a bill from the Councils solicitor after going sale agreed?

Why would you get a bill from the council's solicitor? you get a a bill from your solicitor not theirs.

Mark Hamill · 13-07-2018 9:20am

SNNUS wrote: »

Why would you get a bill from the council's solicitor? you get a a bill from your solicitor not theirs.

You will have to ask the council's solicitor who just sent me a €1,500 bill for professional fees and outlays (Land Reg Fees for Deeds of Transfer and Mortgage). I have queried this through my solicitor, but I was asking here as I can't find anything in my paperwork or online about being liable for the council's solicitor fees, not to mention, my solicitor has already quoted me for the same outlays.

SNNUS · 13-07-2018 9:37am

Mark Hamill wrote: »

You will have to ask the council's solicitor who just sent me a €1,500 bill for professional fees and outlays (Land Reg Fees for Deeds of Transfer and Mortgage). I have queried this through my solicitor, but I was asking here as I can't find anything in my paperwork or online about being liable for the council's solicitor fees, not to mention, my solicitor has already quoted me for the same outlays.

That's crazy, they cannot send you a bill for that as it is your solicitor who does that for you.

They are basically sending you a bill for a service you never requested from them. The councils solicitor is just that- the councils!.

Your solicitor should sort this ASAP, as if you did not have enough things to worry about..

autumnbelle · 13-07-2018 10:03am

That’s crazy if we are liable for that too.

raheny red · 13-07-2018 10:05am

When people mention their council could you mention which one please, or roughly what part of the country? Just to give others a rough idea of what to expect or whatever. Ta.

Mark Hamill · 13-07-2018 2:20pm

raheny red wrote: »

When people mention their council could you mention which one please, or roughly what part of the country? Just to give others a rough idea of what to expect or whatever. Ta.

Meath County Council for me. I can't find anything in the paperwork or online that says I'm supposed to be liable for this, so that's why I asked here.

autumnbelle · 13-07-2018 3:34pm

Mark Hamill wrote: »

Meath County Council for me. I can't find anything in the paperwork or online that says I'm supposed to be liable for this, so that's why I asked here.

Will you let us know when you find out? Was this on drawdown?

Mark Hamill · 13-07-2018 7:28pm

autumnbelle wrote: »

Will you let us know when you find out? Was this on drawdown?

Will do.
The bill was with the paperwork for receiving the mortgage sent to my solicitors and then forwarded it to me, but I am still renegotiating based on the surveyors report.

Peanut99 · 13-07-2018 8:36pm

When I contacted my County Council in the beginning to arrange to submit my application form, they informed me that I would be liable for the Council’s legal costs also. My solicitor informed me that if the Council’s solicitor is registering the mortgage and charging the Land Registry fee, then my solicitor will not need to do it and so I would not be paying the Land Registry fees to my solicitor. So the only extra cost to me should be the Council’s solicitor’s professional fee.

SNNUS · 14-07-2018 10:27am

Peanut99 wrote: »

When I contacted my County Council in the beginning to arrange to submit my application form, they informed me that I would be liable for the Council’s legal costs also. My solicitor informed me that if the Council’s solicitor is registering the mortgage and charging the Land Registry fee, then my solicitor will not need to do it and so I would not be paying the Land Registry fees to my solicitor. So the only extra cost to me should be the Council’s solicitor’s professional fee.

This is crazy and outrageous to pay for 2 solicitors, I have not been advised about this!

Mark Hamill · 14-07-2018 11:50am

Peanut99 wrote: »

When I contacted my County Council in the beginning to arrange to submit my application form, they informed me that I would be liable for the Council’s legal costs also. My solicitor informed me that if the Council’s solicitor is registering the mortgage and charging the Land Registry fee, then my solicitor will not need to do it and so I would not be paying the Land Registry fees to my solicitor. So the only extra cost to me should be the Council’s solicitor’s professional fee.

I was never told I would be liable for the councils solicitors fees at all. Even if I only pay for the registering once, paying two solicitors fees is an extra €680 (at least) that I don't really haver to waste.

Peanut99 · 14-07-2018 12:24pm

I agree it is outrageous, especially when there is no mention of it on the RI website. When I contacted my Co Co initially, I seemed to know more about the RI Home Loan Scheme than they did and I was by no means an expert. The Co Co I applied to is in Connacht but I’d rather not say where specifically. I feel my Co Co are treating my RI application like the old Council home loans. Maybe someone here knows if you took out a Council home loan prior to the RI Scheme, were you liable to pay for the Council’s legal fees?

SNNUS · 14-07-2018 2:01pm

Mark Hamill wrote: »

I was never told I would be liable for the councils solicitors fees at all. Even if I only pay for the registering once, paying two solicitors fees is an extra €680 (at least) that I don't really haver to waste.

Yep I have not budgeted for this either

Peanut99 · 14-07-2018 3:11pm

It might not be the case with all Co Co’s. I also had to go for an interview after my application came back from the Housing Agency and I think I have seen only one other person mention this interview. The interview was basically going through everything I submitted with my application again and they mentioned about the mandatory MPI and again mentioned the Council’s solicitors fees. It is very frustrating that not all Co Co’s seem to be implementing the Scheme in the same way.

coffeyt · 14-07-2018 4:05pm

Peanut99 wrote: »

I agree it is outrageous, especially when there is no mention of it on the RI website. When I contacted my Co Co initially, I seemed to know more about the RI Home Loan Scheme than they did and I was by no means an expert. The Co Co I applied to is in Connacht but I’d rather not say where specifically. I feel my Co Co are treating my RI application like the old Council home loans. Maybe someone here knows if you took out a Council home loan prior to the RI Scheme, were you liable to pay for the Council’s legal fees?

Again maybe it is different from council to council but I got a council mortgage in munster nearly 3 years ago now on the old scheme and was not liable for council solicitor fees. They were definitely involved as everything took longer than normal due to the involvement of 3 separate solicitors (my own, the vendors and the council's) but I was never invoiced for any work they did, presumably as they were working on behalf of the council and I never engaged their services. I would definitely query it as it doesn't seem legit at all to be charged when you don't engage them.

Peanut99 · 14-07-2018 7:34pm

Many thanks for your reply coffeyt.

If my application gets approved, it is definitely something I am going to query.

VW08 · 16-07-2018 7:43pm

I've googled valuers, and cant find any in Cork. Do estate agents provide this service? Anyone recommend someone in Cork who could carry out the inspection? Thanks

Darkglasses · 16-07-2018 8:09pm

VW08 wrote: »

I've googled valuers, and cant find any in Cork. Do estate agents provide this service? Anyone recommend someone in Cork who could carry out the inspection? Thanks

Estate agents, just choose any one that isn't involved in the purchase already. Shop around for the cheapest one.

tomekJ · 16-07-2018 10:31pm

Apologies if this was asked before. What is the easiest way in peoples experience to get refusal letters from two banks. Would it be acceptable if I apply for instance €250k to two banks get rejected and then look for less from Co Co?

stryker mcqueen · 17-07-2018 11:22am

tomekJ wrote: »

Apologies if this was asked before. What is the easiest way in peoples experience to get refusal letters from two banks. Would it be acceptable if I apply for instance €250k to two banks get rejected and then look for less from Co Co?

AIB have an online approval in principal letter you can use, BOI sent us a letter of rejection ,no figures on it but this was accepted

syndrome777 · 17-07-2018 5:42pm

stryker mcqueen wrote: »

AIB have an online approval in principal letter you can use, BOI sent us a letter of rejection ,no figures on it but this was accepted

and in order to get this letter from BOI did you have to go to the branch with full paperwork or?

thanks

stryker mcqueen · 17-07-2018 5:45pm

syndrome777 wrote: »

and in order to get this letter from BOI did you have to go to the branch with full paperwork or?

thanks

No I just phoned their mortgage department and went through the application process , they asked did I want a letter of rejection , the chap I spoke to was sound and kinda knew what I was trying to get at and he pretty much put the words in my mouth ha.....Letter arrived about 5 days later

VW08 · 18-07-2018 7:51am

stryker mcqueen wrote: »

No I just phoned their mortgage department and went through the application process , they asked did I want a letter of rejection , the chap I spoke to was sound and kinda knew what I was trying to get at and he pretty much put the words in my mouth ha.....Letter arrived about 5 days later

BOI for we were the easiest to deal with. The rest all wanted me to formally apply.

SNNUS · 19-07-2018 3:18pm

Mark Hamill wrote: »

You will have to ask the council's solicitor who just sent me a €1,500 bill for professional fees and outlays (Land Reg Fees for Deeds of Transfer and Mortgage). I have queried this through my solicitor, but I was asking here as I can't find anything in my paperwork or online about being liable for the council's solicitor fees, not to mention, my solicitor has already quoted me for the same outlays.

Any update on this, are you liable for their fees?

Rebuilding Ireland home loan

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