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06-06-2019, 15:46   #1606
BelleO
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Originally Posted by Jamesiekel View Post
Does anyone know how often the credit committees meet and make their decision? I am with South Dublin County Council.
They usually only meet once a month.
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06-06-2019, 15:50   #1607
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Originally Posted by pillphil View Post
Could ye share the councils so we know?
I have been approved with Fingal CoCo. Fingal don't require official offer letters from banks anymore (they did up until recently) A screenshot of the online mortgage calculators suffice with Fingal.
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06-06-2019, 15:59   #1608
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Originally Posted by Shaun__90 View Post
Hi, I was refused on friday based on my last 12 months savings which was €16,000!!? Can someone please tell me why they said that I had insufficient savings, or has anyone else had this problem? I have the full 10% deposit for the house and a little bit more. They don't explain themselves very well.
Hi,

My guess is that they want proof that you have the ability to repay the mortgage amount each month, along with enough money left over for bills, living etc. It may be a case that while you have a good amount of money saved, that you aren't showing them that you have enough money to meet the repayments and afford to live and therefore possibly default on payments in the future? I could be wrong but we have been asked for proof of ability to repay even after we have been approved.
I would call them and ask for more information as to why you were refused, they should be able to give you more information.
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06-06-2019, 17:43   #1609
Jellapino15
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Just wondering out of those who have drawn down, did you have to pay the council's legal fees too?
I've just received my letter of loan and in the T&C they say I've to pay all the costs for the lender too. Totally blindsided by this, first it has been mentioned. Where do I even find out how much this is? Because I haven't even allowed for this in my budget!
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06-06-2019, 19:28   #1610
Ukelele!
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Originally Posted by Jellapino15 View Post
Just wondering out of those who have drawn down, did you have to pay the council's legal fees too?
I've just received my letter of loan and in the T&C they say I've to pay all the costs for the lender too. Totally blindsided by this, first it has been mentioned. Where do I even find out how much this is? Because I haven't even allowed for this in my budget!
I remember someone else said they had to do this too. I drew down with Clare Coco and didn't have to pay their legal fees, just had to pay my own. I can't remember exactly, but someone on this thread was in the same situation as you
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06-06-2019, 21:42   #1611
Stekell
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Originally Posted by BelleO View Post
I have been approved with Fingal CoCo. Fingal don't require official offer letters from banks anymore (they did up until recently) A screenshot of the online mortgage calculators suffice with Fingal.
Hi,... Sorry to butt in but just wondering, if you have been approved recently, how long did it take?! We have our application in two months now and are really itching to get moving 😂
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07-06-2019, 09:12   #1612
Jmk725
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Originally Posted by Jellapino15 View Post
Just wondering out of those who have drawn down, did you have to pay the council's legal fees too?
I've just received my letter of loan and in the T&C they say I've to pay all the costs for the lender too. Totally blindsided by this, first it has been mentioned. Where do I even find out how much this is? Because I haven't even allowed for this in my budget!
I am drawing down my funds next week and yes I had to pay the council solicitors fees too. Monaghan.
The fees I paid through weren't any labour fees, it was for the costs the solicitor incurred, such as stamp duty, legal searches and what not.
I was going to have to pay my solicitor them fees anyway if he did the work but the councils solicitor did it instead, I was no worse off.
Hope this helps.
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07-06-2019, 10:58   #1613
klub44
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Quote:
Originally Posted by Jellapino15 View Post
Just wondering out of those who have drawn down, did you have to pay the council's legal fees too?
I've just received my letter of loan and in the T&C they say I've to pay all the costs for the lender too. Totally blindsided by this, first it has been mentioned. Where do I even find out how much this is? Because I haven't even allowed for this in my budget!
Some council have own solicitor so you wont have to pay. Other ones using external legal services you will have to pay for.
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08-06-2019, 08:09   #1614
Ukelele!
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Originally Posted by Jmk725 View Post
I am drawing down my funds next week and yes I had to pay the council solicitors fees too. Monaghan.
The fees I paid through weren't any labour fees, it was for the costs the solicitor incurred, such as stamp duty, legal searches and what not.
I was going to have to pay my solicitor them fees anyway if he did the work but the councils solicitor did it instead, I was no worse off.
Hope this helps.
Ah i see, that's quite interesting. I thought when i heard this that you had to pay the council solicitor's full fees. This doesn't affect me at all cos i only had to pay my own solicitor. I had to pay all those fees through my own solicitor anyway, so I'm assuming it doesn't work out any more expensive to pay the council's solicitor. Hopefully the other person who asked the question, will be in the same boat as you and they're not being asked to pay labour fees, etc.
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08-06-2019, 17:55   #1615
bakerie
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Hi Guys,

Quick one. Can I apply for the RIHL if I have mortgage approval from elsewhere?

I think I'm going to be rejected for this scheme and was planning on falling back on a bank mortgage if this happens. I was wondering if having approval from a bank (for a significantly lower amount) would remove your eligibility from the scheme?

Thanks
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08-06-2019, 17:59   #1616
Evenstevens
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Hi Guys,

Quick one. Can I apply for the RIHL if I have mortgage approval from elsewhere?

I think I'm going to be rejected for this scheme and was planning on falling back on a bank mortgage if this happens. I was wondering if having approval from a bank (for a significantly lower amount) would remove your eligibility from the scheme?

Thanks
No is the short answer. I was approved by two banks for 3.5 times my salary and that’s what I sent to the council. They approved me for a mortgage of 50k more.
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08-06-2019, 18:39   #1617
bakerie
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I was thinking the same, thanks.
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08-06-2019, 21:22   #1618
Jellapino15
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Quote:
Originally Posted by Jmk725 View Post
I am drawing down my funds next week and yes I had to pay the council solicitors fees too. Monaghan.
The fees I paid through weren't any labour fees, it was for the costs the solicitor incurred, such as stamp duty, legal searches and what not.
I was going to have to pay my solicitor them fees anyway if he did the work but the councils solicitor did it instead, I was no worse off.
Hope this helps.
Okay that's good to hear so. It was just in the terms and conditions I saw about costs and expenses for the lenders solicitor so I was surprised. But I don't mind if it is just for things I would have had to get anyway. Thanks for your reply.

Did you have to wait 3 weeks before sending back your signed letter of offer? The loan approval letter mentioned there would be a 3 week 'cooling off' period but nothing mentioned in the special conditions of letter of loan so I'm hoping I won't have to wait, eager to get it drawdown at this stage.
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09-06-2019, 06:58   #1619
DamoNolan
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Originally Posted by Jellapino15 View Post
Okay that's good to hear so. It was just in the terms and conditions I saw about costs and expenses for the lenders solicitor so I was surprised. But I don't mind if it is just for things I would have had to get anyway. Thanks for your reply.

Did you have to wait 3 weeks before sending back your signed letter of offer? The loan approval letter mentioned there would be a 3 week 'cooling off' period but nothing mentioned in the special conditions of letter of loan so I'm hoping I won't have to wait, eager to get it drawdown at this stage.
How long did you have to wait to get your final approval letter and which council are you with? Thanks
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09-06-2019, 18:12   #1620
JessC1987
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I got my approval letter on Friday and I seen a lot of people state they had to reply in writing to accept the offer, however no where on the letter does it state I need to reply in writing to accept it just advises that when I find a property to return forms 1, 2 and 3! I'm with DCC, does this sound right? I've seen a couple of houses we're interested in so I assume we can just go ahead and look and start to make offers?
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