Rebuilding Ireland home loan

jill_valentine · 28-10-2020 6:50pm

Laoise, I'm really sorry to hear that. That does sound off, I would definitely try and phone up and query at least, that sounds very strange altogether?

laoise6 · 28-10-2020 6:58pm

jill_valentine wrote: »

Laoise, I'm really sorry to hear that. That does sound off, I would definitely try and phone up and query at least, that sounds very strange altogether?

Yeah I’m appealing it as I sent in so much information that proves a lot of what they are questioning, but it wasn’t included in the documents returned to me, so I don’t think they included any additional documents that I emailed to them.

laoise6 · 28-10-2020 7:00pm

Lauren52 wrote: »

How much is your total salary for the year, is it 50,000 + 2,000 in overtime ?

How long have You been employed for?

Was it a new house You wanted to purchase?

Did You have the remainder of the price of house in the bank after the amount on the online calculator?

Sorry for all the questions just trying to get an Idea of it all to see if I think it's worth your while appealing it.

If ours is a no I will be 100% appealing as we tick every box on the form , as in there is nothing they can question. (Except I am tempory laid off at present) but I will even fight that if that's a reason.

I’ve never been out of work, my salary is well under the threshold - they can see I only got overtime for 3 months, the other 9 was 0.. and I’m planning on using the HTB scheme, which Wicklow seem to have disallowed, despite RI and revenue saying you can use it..

KH1591 · 28-10-2020 7:06pm

laoise6 wrote: »

I’ve never been out of work, my salary is well under the threshold - they can see I only got overtime for 3 months, the other 9 was 0.. and I’m planning on using the HTB scheme, which Wicklow seem to have disallowed, despite RI and revenue saying you can use it..

What kind of home are you purchasing?

gandalfio · 28-10-2020 7:15pm

laoise6 wrote: »

I’ve never been out of work, my salary is well under the threshold - they can see I only got overtime for 3 months, the other 9 was 0.. and I’m planning on using the HTB scheme, which Wicklow seem to have disallowed, despite RI and revenue saying you can use it..

We were told by RBI directly that you can only use the HTB as a maximum of 50% of your deposit, and that 30% of your 10% deposit must be saved by the applicant. The remaining 70% can include gifts, HTB etc.

Lauren52 · 28-10-2020 7:16pm

laoise6 wrote: »

I’ve never been out of work, my salary is well under the threshold - they can see I only got overtime for 3 months, the other 9 was 0.. and I’m planning on using the HTB scheme, which Wicklow seem to have disallowed, despite RI and revenue saying you can use it..

Well the You are right to appeal,

Hopefully You get somewhere ,

I Feel this time next week I'll prob get the same letter as You. Going to try put it out of my head now. Literally takes over your head!!

laoise6 · 28-10-2020 7:18pm

gandalfio wrote: »

We were told by RBI directly that you can only use the HTB as a maximum of 50% of your deposit, and that 30% of your 10% deposit must be saved by the applicant. The remaining 70% can include gifts, HTB etc.

But I have 5% saved and documented - so that’s 50% of the deposit.. so it still doesn’t make sense..

laoise6 · 28-10-2020 7:20pm

Lauren52 wrote: »

Well the You are right to appeal,

Hopefully You get somewhere ,

I Feel this time next week I'll prob get the same letter as You. Going to try put it out of my head now. Literally takes over your head!!

I really don’t think my application was actually sent to the underwriters.. as it looks like it’s a least a 5 week wait, whereas she said she’d post the application on October 5th.. ? So I don’t see how mine would have been processed that quickly..

I hope you have more luck.. what makes you think you’ll be declined?

Lauren52 · 28-10-2020 7:34pm

laoise6 wrote: »

I really don’t think my application was actually sent to the underwriters.. as it looks like it’s a least a 5 week wait, whereas she said she’d post the application on October 5th.. ? So I don’t see how mine would have been processed that quickly..

I hope you have more luck.. what makes you think you’ll be declined?

I think we will be declined because when I rang the first time it came back from UW she told me they looked for 260,000 (we put maximum for our earnings)
When I put ours into online it is less than 260 , my husband got a payrise in between putting in updated app and the time it went so we submitted payslips and updated salary cert but even with the payrise still does not calculate to 260,000. When she resubmit could not look for less as that would of had to be a new application and we would of had to go to the back of the q (15mts in now)

When ours was resubmitted I asked how long it would take to come back , she said 2-3 weeks usually , that was sept 18th.

I think they come back quick , but they dont get to them. (Well in Kildare anyway)

I would ask for the proof that it was sent to underwriters, have everything , like everything they are saying no on I would print each thing, stick a post it on each "proof of continuous employment" "proof of savings" etc etc

So stressful , but get it all together and go for it.

There approval rate is under 50%

They really dont make it easy!

Lauren52 · 28-10-2020 7:39pm

laoise6 wrote: »

But I have 5% saved and documented - so that’s 50% of the deposit.. so it still doesn’t make sense..

Is this including money left over for fees ?

So say the house You want to purchase is 200,000
Have You 10,000 + money for fees?
Then 10,000 from H2B as long as it's a new property?

laoise6 · 28-10-2020 8:08pm

Lauren52 wrote: »

Is this including money left over for fees ?

So say the house You want to purchase is 200,000
Have You 10,000 + money for fees?
Then 10,000 from H2B as long as it's a new property?

Yep. But HTB says you can claim the full 10%.. it’s so confusing..

laoise6 · 28-10-2020 8:09pm

Lauren52 wrote: »

I think we will be declined because when I rang the first time it came back from UW she told me they looked for 260,000 (we put maximum for our earnings)
When I put ours into online it is less than 260 , my husband got a payrise in between putting in updated app and the time it went so we submitted payslips and updated salary cert but even with the payrise still does not calculate to 260,000. When she resubmit could not look for less as that would of had to be a new application and we would of had to go to the back of the q (15mts in now)

When ours was resubmitted I asked how long it would take to come back , she said 2-3 weeks usually , that was sept 18th.

I think they come back quick , but they dont get to them. (Well in Kildare anyway)

I would ask for the proof that it was sent to underwriters, have everything , like everything they are saying no on I would print each thing, stick a post it on each "proof of continuous employment" "proof of savings" etc etc

So stressful , but get it all together and go for it.

There approval rate is under 50%

They really dont make it easy!

That’s so bad, i really hope you get approved as otherwise it’ll literally be the councils fault if you don’t.. honestly!

Lauren52 · 28-10-2020 8:32pm

laoise6 wrote: »

Yep. But HTB says you can claim the full 10%.. it’s so confusing..

Is it 10% now that You can get up to 30K

I havnt a clue on this, we will be going with H2B but we havnt paid 30,000 in Tax in the last 4 years so this isnt that great for us, If anything it's just upped the house prices for new builds - cant win we have over 10% saved Thank God, we only have so much saved because it took so bloody long , 1 benefit for the length if time I guess so at least it will bring down final price a small bit.

laoise6 · 28-10-2020 9:26pm

Lauren52 wrote: »

Is it 10% now that You can get up to 30K

I havnt a clue on this, we will be going with H2B but we havnt paid 30,000 in Tax in the last 4 years so this isnt that great for us, If anything it's just upped the house prices for new builds - cant win we have over 10% saved Thank God, we only have so much saved because it took so bloody long , 1 benefit for the length if time I guess so at least it will bring down final price a small bit.

Which council you applying to? Good luck - I was just told flat out I can’t use HTB.. but I’m learning each council just makes it up as they go along..

Dankarl · 28-10-2020 9:41pm

Cheesepuffs wrote: »

Hi,

Does anyone know what it means by
‘We have received a request from your solicitors for the cheque to be issued’

We is it issued from and what’s the time frame. Solicitors said requested on the 09/10.

No sign of it

CP

We are in similar situation.
Anyone any help ?

KH1591 · 28-10-2020 10:00pm

laoise6 wrote: »

Which council you applying to? Good luck - I was just told flat out I can’t use HTB.. but I’m learning each council just makes it up as they go along..

Definitely follow up about it! The only thing I could think of is the HTB is only on new builds so unless its a 2nd hand property you shouldn't have had any problems! Very frustrating

Salanky · 28-10-2020 10:26pm

Contracts signed by the seller last Thursday, cheque being issued by the council tomorrow with the seller wanting to close on the 2nd of November. My solicitor is off now until the 2nd so thats not gonna happen. I'm hoping the cheque will be cleared by next week and I will be able to close by Friday.

jessimirish · 28-10-2020 11:52pm

Hi all, question about the Covid wage subsidy. My employer was on the covid subsidy, but hasn't been for my last 2 payslips (I'm paid monthly). However, at the time I submitted my application, all my payslips showed the subsidy. The last 2 without the subsidy have come in since my application was sent off.

My employment circumstances haven't changed - I've been employed the whole way through the pandemic and my job is secure, but I'm worried now they will decline me because of this.

Anyone got experience with this?

Lauren52 · 29-10-2020 12:17am

jessimirish wrote: »

Hi all, question about the Covid wage subsidy. My employer was on the covid subsidy, but hasn't been for my last 2 payslips (I'm paid monthly). However, at the time I submitted my application, all my payslips showed the subsidy. The last 2 without the subsidy have come in since my application was sent off.

My employment circumstances haven't changed - I've been employed the whole way through the pandemic and my job is secure, but I'm worried now they will decline me because of this.

Anyone got experience with this?

Hi,

Contact them and get an email You can send to in order to add them.

I had to send payslips via email to prove I was off the subsidy.

Best of luck.

Lauren52 · 29-10-2020 12:19am

laoise6 wrote: »

Which council you applying to? Good luck - I was just told flat out I can’t use HTB.. but I’m learning each council just makes it up as they go along..

Kildare.

Who told You You cant use it? We will be using it, just not for the 10 %

Lauren52 · 29-10-2020 12:20am

KH1591 wrote: »

Definitely follow up about it! The only thing I could think of is the HTB is only on new builds so unless its a 2nd hand property you shouldn't have had any problems! Very frustrating

I agree that should be the only reason You couldnt use it

Good Luck with Appeal

laoise6 · 29-10-2020 1:04pm

Lauren52 wrote: »

Kildare.

Who told You You cant use it? We will be using it, just not for the 10 %

I think that’s the loop hole - if you need it for the deposit they’ll block you from using it, but they'll let you use it to reduce the mortgage you need ?

It doesn’t make any sense to me - I’ve appealed anyway.. so fingers crossed.

Lauren52 · 29-10-2020 1:59pm

laoise6 wrote: »

I think that’s the loop hole - if you need it for the deposit they’ll block you from using it, but they'll let you use it to reduce the mortgage you need ?

It doesn’t make any sense to me - I’ve appealed anyway.. so fingers crossed.

Best Of Luck

Lauren52 · 29-10-2020 2:00pm

Hi , me again !
Does anyone know how is the MPI is calculated ? I have searched online and cant find anything? Trying to get ahead of myself incase of appeal
TIA

KH1591 · 29-10-2020 2:23pm

laoise6 wrote: »

I think that’s the loop hole - if you need it for the deposit they’ll block you from using it, but they'll let you use it to reduce the mortgage you need ?

It doesn’t make any sense to me - I’ve appealed anyway.. so fingers crossed.

I was speaking with Rebuilding Ireland and they said you can use the HTB for up to 70% of your deposit so that shouldn't have been the issue unless property was second hand!
Best of luck with the appeal!

navan21 · 30-10-2020 12:19am

Has anyone gotten this loan for a self build recently? Finding it so difficult to find experiences from anyone who has! Thanks

Jafin · 30-10-2020 11:30am

Lauren52 wrote: »

Hi , me again !
Does anyone know how is the MPI is calculated ? I have searched online and cant find anything? Trying to get ahead of myself incase of appeal
TIA

It's 0.55% of the outstanding balance on your mortgage and then divide it by 12 to get your monthly payment. It gets reduced accordingly every year since the amount you owe is less.

As a side note, when you get some of your documentation after getting AIP it gives a breakdown of exactly how much you'll pay every month for the first year and then how much you'll pay in total for every year after that (assuming you take the full amount they're offering you), which you can then divide by 12 yourself to get the monthly payments.

phobia2011 · 30-10-2020 2:53pm

Can someone confirm what solicitor fees are excluded when usin the tenant purchase scheme, ?
Thanks in advance

Juca161 · 30-10-2020 10:45pm

Jafin wrote: »

Welp. Sent in my structural survey last week to the council and they just got back to me with four things that have to be done and they won't issue the mortgage unless they are done. Now I'm a complete idiot when it comes to these things. There are things in there that they are saying don't comply with building regulations. The property was built in 1996 and the building regulations they are talking about came into effect between 1997 and 1999. Can I dispute the recommendations or anything since the property was built before the regulations came into play? The things they are saying I have to do are things I would have done down the line anyway, but they won't issue the mortgage unless they are done prior to occupation.

Sorry to hear this. Do you mind me asking what things they are asking you to do? I'm waiting a structural report and I'm nervous after reading this. ðŸ˜”

Jafin · 31-10-2020 12:38am

Juca161 wrote: »

Sorry to hear this. Do you mind me asking what things they are asking you to do? I'm waiting a structural report and I'm nervous after reading this. &#55357;&#56852;

The property I'm sale agreed on is an apartment, and apparently some of the stuff in it doesn't conform to building regulations that were around when it was built. There were five things in particular they said needed to be done:

1. Replace all the doors with fire doors (this is specifically because it's an apartment located on the first and second floor - if you're buying a house this shouldn't be an issue).

2. The wall in the attic separating the apartment and the one next to it has...a tiny hole, but that means it's not adequate for fire protection, so that hole needs to be filled.

3. There are a few ventilation issues. The wardrobe in the main bedroom is built in and is blocking the vent. The vents in the kitchen and two spare bedrooms go into the attic, but then it's not vented through the roof.

4. The guard rail on the first floor landing is too short and needs to be taller. Tbh when I first saw it I thought it looked weird too. Let's just say you wouldn't want to be drunk when walking past it or you could fall sideways on to the stairs.

5. One of the smoke alarms was broken, so now they want the whole place fitted with wired smoke alarms.

Tbh my solicitor can't understand what's going on. Everything seems to be done backwards. She thinks it's very strange that a structural survey was required at all before contracts were issued, and she said when banks get a survey like this nine times out of ten they say it's fine as long as the issues are fixed after buying the property. She's going to ring the council on Monday herself and ask to speak to their engineer to see if there's anything that can be done.

Rebuilding Ireland home loan

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