Rebuilding Ireland home loan

GlowStick · 17-03-2020 11:36am

Does anyone know if the council are going to defer mortgage payments like the banks? I've friends who have a mortgage with AIB and their payments are being deferred for 3 months. More than likely I'll be laid off by the end of the week, and was wondering if anyone knew if the council's are going to do like the banks and defer payments? Figured you guys might know, seeing as it's Paddy's Day and they'll be off so no point ringing them!

deedee26 · 17-03-2020 1:23pm

GlowStick wrote: »

Does anyone know if the council are going to defer mortgage payments like the banks? I've friends who have a mortgage with AIB and their payments are being deferred for 3 months. More than likely I'll be laid off by the end of the week, and was wondering if anyone knew if the council's are going to do like the banks and defer payments? Figured you guys might know, seeing as it's Paddy's Day and they'll be off so no point ringing them!

DCC are saying if your on reduced income give them a call.

kbman · 18-03-2020 9:03am

Len_007 wrote: »

Thanks kbman, that is really good to know.
RE extension, I've been told by my council (Wicklow) that a three month extension would initially be possible (I didn't clear on what grounds that would be granted though). In your experience, was your extension given the time needed for the property to be built and ready for occupation?

Hi Len,

My loan is expiring on the 4th April, I was told in January that I was too early, it's now nearly 2 weeks since I sent email requesting this and followed up on it with revenue section in Wicklow. 3 months won't be enough, we'll need 6 in our case at a minimum, that may increase given the state of corona virus, which the builders were talking about closing up on Monday when I spoke with them.

I'll try get a hold of them today to get something more positive.

Thanks

beanyb · 19-03-2020 11:49am

I was in DCC today for my appointment to hand in my Form 1,2,3 etc, and just thought I'd let people know what they told me in case it's useful to anyone.

They are working on an appointment only basis, and are putting a pause on new applications. They said would still progress mine based on where it is, but it'll likely be slowed down by delays with solicitors, etc which makes sense. She said some of the solicitors they are dealing with seem to have basically downed tools. She also asked me if my employment was still secure.

They are all at work, as they are responding to lots of queries from people suddenly struggling to pay their loans. She also said that they are getting grief from people who are trying to apply, so if you are calling, I'd suggest being sound to the people who are doing their best and still working through this stressful situation!

SarahKK1987 · 28-03-2020 6:23pm

Hi
Anyone any advice on this situation. We have gone sale agreed on a property. Paid holding deposit. Got valuation and surveyors report this week. Came back that the septic tank for the property is across the road in a farmer's field with no legal easement in place. Along with this it is a shared driveway between 2 houses. Would these things pose an issue to the council allowing us to buy the property (We have of course requested a legal easement to be drawn up in relation to the septic tank) I'm afraid now the council won't agree to us drawing down the money after coming so far . Any advice much appreciated.

mickdw · 28-03-2020 6:30pm

Well at least you habe identified the issues.
If the field owner is happy to just sign for the septic tank easement, that really shouldnt then be an issue re buying.
The driveway can be tricky. Are you going to take into your ownership at least the site as granted planning permission?
Does the serup reflect the planning?
Who will own the drive? It could be you, the neighbour or half each with right of way to the other.

SarahKK1987 · 29-03-2020 8:23pm

As far as we know the driveway belongs to the house were hoping to buy but we would have to give right of way to the neighbours. No problem from our end at all. We're hoping the seller will be able to get what's needed from the field owner to allow us to service the septic tank. We have just heard the council can be sticky with these types of things and may not allow us to drawdown. Disappointing as we have come this far and kind of have our hopes set on the house.

raheny red · 01-04-2020 12:05pm

The MPI payments are suppose to go down after 12 months? We're with Fingal since Feb 2019 and we're still repaying the exact amount. Anyone else in the same position or see a drop in theirs after a year? Thanks.

BKWDR · 01-04-2020 1:52pm

raheny red wrote: »

The MPI payments are suppose to go down after 12 months? We're with Fingal since Feb 2019 and we're still repaying the exact amount. Anyone else in the same position or see a drop in theirs after a year? Thanks.

Probably will be done in coming weeks and its always back dated to January 1st so you won't miss out. I think they are all closed down and sent home but it will happen

raheny red · 01-04-2020 3:40pm

BKWDR wrote: »

Probably will be done in coming weeks and its always back dated to January 1st so you won't miss out. I think they are all closed down and sent home but it will happen

Brilliant thanks. Least of the worries atm but was just wondering, nice one.

kotac24 · 01-04-2020 6:40pm

Has anyone tried to contact the councils in regards to delaying/lowering the payments if you can prove temporary pay cut for example ?

raheny red · 01-04-2020 10:25pm

kotac24 wrote: »

Has anyone tried to contact the councils in regards to delaying/lowering the payments if you can prove temporary pay cut for example ?

Dear Borrower,

Do I need to keep paying my mortgage?

Yes, you need to continue to pay your mortgage, or if you are experiencing financial difficulty due to ongoing Covid19 situation, please read below.

If you fail to pay your mortgage without an agreement in place, Fingal County Council is obliged to report this to the Central Credit Register and this may limit your ability to access credit in the future.

What if I have lost my job due to the Covid-19 emergency?

If you have temporarily lost work the mortgage support team needs proof of your social welfare claim or letter from your employer confirming such.
If you have lost your job permanently, please complete the attached form and provide supporting documentation (letter from employer or receipt of application from the Depart of Social Protection) ~ legible screenshots are allowed.
What will happen with my Mortgage?

Subject to evidence you have supplied that you have lost your job or have reduced hours Fingal County Council may offer you a solution to make reduced or deferred payments up to a maximum of 3 months that are proportionate to your loss of income.

You will, as a minimum, need to keep up your Mortgage Protection Insurance payments so as not to break the continuity of your cover. Fingal County Council will endeavour to find an individual solution with each borrower.

What will happen with my Mortgage after the period of reduced payment?

After the period of reduced payment, the deferred capital and interest on the time you didn’t pay is added to the remaining life time of the loan. This will mean your monthly instalment will increase. We will write to you to confirm how much it will increase by and from what date.

PLEASE NOTE: As the mortgage support team is working remotely, we are only communicating by email. Please read all of the above carefully and if you wish to apply for a reduced payment on your mortgage, complete the attached form in full and return it with all supporting documentation to loans@fingal.ie

Expect that there may be a delay in replying to each borrower, we ask that you are mindful of that and appreciate your ongoing cooperation.

Mortgage Support Team

kotac24 · 02-04-2020 12:53pm

Thanks raheny red, btw just got an email from fingal loans section that they basically paused everything for now, except for the queries regarding the issues with payments...

Shellzer123 · 02-04-2020 5:18pm

kotac24 wrote: »

Thanks raheny red, btw just got an email from fingal loans section that they basically paused everything for now, except for the queries regarding the issues with payments...

Do you mind me asking what stage of the process you are at?

kotac24 · 02-04-2020 9:03pm

Shellzer123 wrote: »

Do you mind me asking what stage of the process you are at?

final approval, sale agreed, loan pack issued maybe a month ago, and we finalised and signed contracts 2 weeks ago, basically just waiting for the funds, and to get the keys...

beanyb · 02-04-2020 10:29pm

kotac24 wrote: »

final approval, sale agreed, loan pack issued maybe a month ago, and we finalised and signed contracts 2 weeks ago, basically just waiting for the funds, and to get the keys...

ah no - what a tough stage of the process for this to happen at! Hopefully it won't be delayed too long for you.

I am waiting for my loan pack to issue. Spoke to them yesterday and it won't happen until they can get back into the office, so it's a waiting game for me too.

Shellzer123 · 03-04-2020 7:47am

beanyb wrote: »

ah no - what a tough stage of the process for this to happen at! Hopefully it won't be delayed too long for you.

I am waiting for my loan pack to issue. Spoke to them yesterday and it won't happen until they can get back into the office, so it's a waiting game for me too.

Im the same.. went sale agreed had meeting arranged for approval of pack and then never had the meeting.. my contracts have arrived and everything in relation to the property.. it will be a waiting game for me too..

Rojo · 03-04-2020 10:56am

I have tried looking this up in the thread but can't see it. I have a balance of a couple grand on a credit card, how would this affect an application?

beanyb · 03-04-2020 10:56am

Shellzer123 wrote: »

Im the same.. went sale agreed had meeting arranged for approval of pack and then never had the meeting.. my contracts have arrived and everything in relation to the property.. it will be a waiting game for me too..

Fingers crossed we get there sooner rather than later!

beanyb · 03-04-2020 10:59am

Rojo wrote: »

I have tried looking this up in the thread but can't see it. I have a balance of a couple grand on a credit card, how would this affect an application?

They'll take it into account for the amount you can borrow (and it may lower it significantly). If you can I'd recommend attempting to clear it before you make an application. They have paused applications for the moment so it may be a while before you can apply anyway.

Rojo · 03-04-2020 11:10am

Thanks for that, beanyb!

stresshead101 · 03-04-2020 12:10pm

kotac24 wrote: »

final approval, sale agreed, loan pack issued maybe a month ago, and we finalised and signed contracts 2 weeks ago, basically just waiting for the funds, and to get the keys...

Myself and my partner are at this stage too.. Our cheque was to be issued on Monday just gone, but was informed on Tuesday that this probably wont be done after Easter, subject to the lockdown being loosened.

Karl12byrne · 04-04-2020 4:58pm

Hi All

Does anyone know if the credit committee meetings are still going ahead.

We applied to SDCC in november and have been informed that we are still waiting to be sent to the credit committee to get an answer if were approved and how much or declined. Apparently this is the final stage to find out if approved and the amount

Every week we ring and some weeks with no meetings being held (even before the crisis going on) and we were 14th on the list for the last few weeks around start/middle of February.

If anyone has advice/experience dealing with SDCC as it has been a bit of a nightmare. We understand it is a long process and if it works can be really good and that it takes quite some time from start to finish we just need an answer on how much we can borrow as were are interested in a property and as soon as we know the amount we can borrow (once enough) they will/will not hold it for us

Any help Advice much appreciated

BKWDR · 05-04-2020 5:29pm

Karl12byrne wrote: »

Hi All

Does anyone know if the credit committee meetings are still going ahead.

We applied to SDCC in november and have been informed that we are still waiting to be sent to the credit committee to get an answer if were approved and how much or declined. Apparently this is the final stage to find out if approved and the amount

Every week we ring and some weeks with no meetings being held (even before the crisis going on) and we were 14th on the list for the last few weeks around start/middle of February.

If anyone has advice/experience dealing with SDCC as it has been a bit of a nightmare. We understand it is a long process and if it works can be really good and that it takes quite some time from start to finish we just need an answer on how much we can borrow as were are interested in a property and as soon as we know the amount we can borrow (once enough) they will/will not hold it for us

Any help Advice much appreciated

I would hazard a guess that a pause has been put on all new lending or decision making around lending. All local authorities are working from home bar essential services, which lending isn't. Theyve been tasked by government to be the central support to vulnerable groups through the crisis. I did also hear that a vast majority of the LA staff (admin etc) will be redeployed throughout the public service, hse or social protection.

gnr vr fan · 05-04-2020 6:00pm

It took approximately 6 and a half months for my approval in principal to come through

Karl12byrne · 05-04-2020 10:49pm

Was that with SDCC and if you dont mind me asking was the approval what you were seeking

Was the online calculator accurate to what you were offered

I know I am waiting since November it's a nightmare and the proces only begins when you get the approval in principle but waiting for that

Thanks for the reply

gnr vr fan · 05-04-2020 11:27pm

Yes that was with SDCC

Yes that was for approval.

And yes the calculator was accurate.

It is a very slow process and any phone calls I made did not seem to speed up the process. Again all I was told for weeks was that it was awaiting to go to the credit committee.

Even after it goes to the credit committee it can take two weeks for the manager to sign off on it.

I was getting very frustrated towards the end as the day before it was due to go to the credit committee a previous issue (which was already dealt with by a different member of SDCC staff) was highlighted. I got a bit frustrated here as I told the girl on the phone that they had asked for the clarification months before and I submitted it and everything was fine. But she still wanted something extra which meant a little bit more work.

Nevertheless I git the approval,
Went Sale Agreed,
Now Corona Virus. Yeahhhh.

rqc1i3ovl5uxt6 · 06-04-2020 10:16am

Hi All,

I'm just posting an update, I submitted my Rebuilding Ireland Homeloan Application on the 14th February as a single applicant - requesting the maximum amount available of €288,000 (90% of €320,000) for County Galway.

After 7 weeks, I received 'Approval in Principle' on 2nd April (was in junk mail, so didn't see it until a few days later) for an amount of €193,600 over 30 years on a fixed rate of 2.995% - need to enter into a Mortgage Protection Policy to take it further.

With COVID-19, i'm sure this offer won't change...? I have not contacted my local authority just yet, but does anyone know how long such a loan offer is valid for?

kbman · 06-04-2020 11:09am

Leinad,

This should be all in the documentation you receive from the County Council
With one CC I got a letter indicating for me to give them an address and documents with house address on it within a month.
This was after we'd paid booking deposit and wanted to sign the contracts.
The loan offer was valid for 6 months.

Good luck with the next steps, hard to say what they'll do with covid-19 impacts.

Karl12byrne · 08-04-2020 8:03pm

Thanks very much for the info

I know it's a complete nightmare I I literally don't seem to be moving anywhere and now with the covid it will probably be a while more

I'm going to call them tomorrow and see if I have moved anywhere or if there even was a meeting held. O haven't called them in two weeks now so hopefully some good news

Delighted to hear you got your approval and sale agreed,

Hopefully it goes all through for you soon

gnr vr fan · 09-04-2020 7:47pm

Hi Karl. Thank You.

Any other questions just direct them to me. I'll try to give you info if and when I can.

Also sorry but they aren't in the office at the moment. They are working from home apparently.

And apparently a lot of the reception didn't know this because I just got kept being redirected to the Loans and Accounts section even though no one was there.

Noelo5 · 10-04-2020 12:06am

I also got approval in principle have contrats signed on a house the council where just about to request the drawdown right before the lockdown now we have to wait I'm nervous now cause me and my wife arnt working because of the virus. I hope we get the money now. Has anyone got funding during the lockdown

kbman · 10-04-2020 7:11am

Anyone else got through to Wicklow CC, been trying on phone and email since 6th March to get extension.
Now the coronavirus will push our timelines out further. Have no idea how this will play out in terms of reapplication, I'd hope we don't have to reapply.

Anyone else been able to get response?
All I've been told is she's working from home.

Len_007 · 10-04-2020 10:48am

kbman wrote: »

Anyone else got through to Wicklow CC, been trying on phone and email since 6th March to get extension.
Now the coronavirus will push our timelines out further. Have no idea how this will play out in terms of reapplication, I'd hope we don't have to reapply.

Anyone else been able to get response?
All I've been told is she's working from home.

I'm in the very same boat. My initial six month approval runs out on April 18th with Wicklow Co Co. I was told that the girl who deals with extensions has been redeployed! But in my case I got as far as revenue section, and the lady there told me to email the previous department with some bank statements asking for an extension just so something is on record.
I also hope I don't have to reapply as the 2.25% fixed would be hard to say good bye too.

kbman · 10-04-2020 1:31pm

Len_007 wrote: »

I'm in the very same boat. My initial six month approval runs out on April 18th with Wicklow Co Co. I was told that the girl who deals with extensions has been redeployed! But in my case I got as far as revenue section, and the lady there told me to email the previous department with some bank statements asking for an extension just so something is on record.
I also hope I don't have to reapply as the 2.25% fixed would be hard to say good bye too.

That's helpful, I did speak to Revenue before but not recently, extension ran out nearly a week ago, but I had the request in writing and email countless times, I just haven't provided bank statements.

I may talk to revenue and see if i'm suggested the same thing.

Thanks for that, here's hoping, fingers crosssed

Noelo5 · 12-04-2020 8:52am

Can the council pull after you have signed contracts over where just waiting on funds but need to wait another 3 weeks cause of lockdown. I worried they will pull us from the deal as 2 of us lost our jobs temporary to covid 19

cudsy1 · 15-04-2020 7:37am

raheny red wrote: »

The MPI payments are suppose to go down after 12 months? We're with Fingal since Feb 2019 and we're still repaying the exact amount. Anyone else in the same position or see a drop in theirs after a year? Thanks.

Does MPI reduce after 12 months across the councils? How much by? I assume its the same scheme across all councils? 100 ish a month initially? Can't recall name of provider atm but I have the pack

Lwoods90 · 16-04-2020 9:47am

Hi,

We have sent in our forms to our local CC, do you wait until you get approved or can you bid on a property?

We have just missed out on a bargain of a house already in the area.

beanyb · 16-04-2020 10:15am

Lwoods90 wrote: »

Hi,

We have sent in our forms to our local CC, do you wait until you get approved or can you bid on a property?

We have just missed out on a bargain of a house already in the area.

You could bid without approval, because bids are always non-binding, but I'd be careful about getting too far down the line and having to pull out as there are definitely going to be even further delays to approvals and loans issuing than usual due to the lockdown. Maybe try give your council a call and see how they advise you.

Graham · 16-04-2020 10:42am

Lwoods90 wrote: »

do you wait until you get approved or can you bid on a property?

It wouldn't be unusual for an estate agent to ask for proof of funds before accepting your bid.

kbman · 16-04-2020 2:44pm

kbman wrote: »

That's helpful, I did speak to Revenue before but not recently, extension ran out nearly a week ago, but I had the request in writing and email countless times, I just haven't provided bank statements.

I may talk to revenue and see if i'm suggested the same thing.

Thanks for that, here's hoping, fingers crosssed

And now i'm told that she's not there until next week as they're on staggered shifts with reduced staffing.
This will take time.

givyjoe · 16-04-2020 4:45pm

Graham wrote: »

It wouldn't be unusual for an estate agent to ask for proof of funds before accepting your bid.

Isn't it usually after accepting the bid? Otherwise you're giving the estate agent info to go acting the maggot with, i.e. they can see you can go higher.

kbman · 16-04-2020 4:59pm

Lwoods90 wrote: »

Hi,

We have sent in our forms to our local CC, do you wait until you get approved or can you bid on a property?

We have just missed out on a bargain of a house already in the area.

not sure which council you're on to there.
I was looking for extension since 6th March, the admin was on holidays before the virus hit and since has been redeployed.
The revenue section is the other people who know our situation are on a staggered working times so it may take time to get answers with your local CC.

Like other replies, i'd be tempted to see what your council are saying to you first.

Graham · 16-04-2020 5:03pm

givyjoe wrote: »

Isn't it usually after accepting the bid? Otherwise you're giving the estate agent info to go acting the maggot with, i.e. they can see you can go higher.

Generally no, it's before your bid is accepted.

You might be concerned about showing an EA the limits of your budget, they wouldn't be concerned about seeing it.

If you're paranoid, you can ask your solicitor/bank to confirm that you're good for the amount offered.

Shamboo1801 · 16-04-2020 8:21pm

cudsy1 wrote:

Does MPI reduce after 12 months across the councils? How much by? I assume its the same scheme across all councils? 100 ish a month initially? Can't recall name of provider atm but I have the pack

Your MPI is .55% of your outstanding mortgage, and this is reviewed yearly, hence why you set up a standing order, rather than a DD, so it can be altered yearly. Only makes a difference of a few euros in your repayments. Not really anything to get too excited about.

kbman · 20-04-2020 5:30pm

Len_007 wrote: »

I'm in the very same boat. My initial six month approval runs out on April 18th with Wicklow Co Co. I was told that the girl who deals with extensions has been redeployed! But in my case I got as far as revenue section, and the lady there told me to email the previous department with some bank statements asking for an extension just so something is on record.
I also hope I don't have to reapply as the 2.25% fixed would be hard to say good bye too.

Len,

Amazed at the variety of responses.
I wasn't told she was redeployed.
With myself, all i got from revenue section was that i should wait for the girl who deals with extensions/applications hasn't been seen by revenue section and have to wait for her to get back to continue with extension process (whatever they need to make decision).
I didn't send any bank statements in yet, and not sure how many we need.
She's not really involved in that part so trying to stay out of it.

Let's hope and pray, Good luck

kotac24 · 23-04-2020 1:28pm

Here is the latest update i got:

"Due to the current Covid-19 National Health Emergency we will require further information from you to confirm that your circumstances have not changed since final loan approval. This information will have to be presented to the Fingal County Council credit committee for final approval.

Have your employers complete the attached salary certificates for both applicants.
Provide a copy of both applicants most recent payslip (these must be as up to date as possible).
Provide confirmation from the Department of Employment Affairs and Social Protection that you are not currently in receipt of any social welfare payments by providing an up to date statement of total benefits received to date.
Sign the attached consent to credit check declaration.

Please return all the above to us as soon as possible via email. Please ensure that all documents are a high quality scan so they are clearly legible."

Unfortunately looks like more paperwork and another evaluation, which can cause some problems for many people whose circumstances have changed in the past few weeks

beanyb · 24-04-2020 4:00pm

Things seem to be moving in DCC again. I had left following up with them for a few weeks because last time I spoke to them they were just working from home and in a holding pattern of sorts. But checked in today and they should be issuing my loan pack to my solicitor next week.

NinjaRambo · 24-04-2020 7:01pm

Hi everyone. I hope that you are all staying safe and healthy in this crisis.

I have a small question regarding the Rebuilding Ireland Home Loan. I was wondering, what is the main difference between this loan and a loan you can get from say AIB as a first time buyer? Can someone who is earning say, 12K a year be able to avail of the Rebuilding Ireland loan? How about someone who is on Disability Allowance.

And lastly, when it says joint application, does it have to be my wife or girlfriend or can it be anyone?

Noelo5 · 25-04-2020 10:51am

beanyb wrote: »

Things seem to be moving in DCC again. I had left following up with them for a few weeks because last time I spoke to them they were just working from home and in a holding pattern of sorts. But checked in today and they should be issuing my loan pack to my solicitor next week.

Hey beany

Are you still working just asking cause we also waiting to get loan pack but our circumstances have change bought of us are temporary unemployed and I'm nervous it will fall true right at the last herdal

Rebuilding Ireland home loan

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