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Rebuilding Ireland home loan

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Comments

  • Registered Users Posts: 106 ✭✭LauraAaron


    JessC1987 wrote: »
    To work out what your mpi will be you need to divide the amount your borrowing by 12 and then multiply it by 0.555%, on the basis of you borrowing €108,000 your mpi would be €49.95 per month and not €200? This will continue to go down as your mortgage amount decreases over the coming years!
    Ahh thankyou I knew I must have calculated it wrong thanks so much xxx


  • Closed Accounts Posts: 17 Shanvp


    Hi all, we have gone sale agreed and are just waiting for the final approval to go through after having our final meeting with Fingal CC. How long did this take for anyone? Do FCC inform you or does the pack just go straight to our solicitor?


  • Registered Users Posts: 3 Anastasia79


    Hi!! Have anyone applied for RIHL with Westmeath recently? I would like to know if they are lending and how quick are they responding with the approval letter?. Thank you!!


  • Registered Users Posts: 5 lococo


    Hi All,

    Just wondering had anyone any negative feedback over this scheme when putting offer on a house. Would auctioneers / vendors know much about it as its not your typical bank scenario?

    Thanks


  • Registered Users Posts: 5 lococo


    mirabella1 wrote: »
    Hello. Anybody have been approved in Galway city or County Galway? How long take it from submitting the application form?
    Thank you.

    Hi yes I have been approved.Sumitted forma Mid Feb and was granted in May. Currently looking for house.


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  • Registered Users Posts: 214 ✭✭coil1985


    lococo wrote: »
    Hi yes I have been approved.Sumitted forma Mid Feb and was granted in May. Currently looking for house.

    Do you not have to give the house details as part of the application?


  • Registered Users Posts: 63 ✭✭didka


    lococo wrote: »
    Hi All,

    Just wondering had anyone any negative feedback over this scheme when putting offer on a house. Would auctioneers / vendors know much about it as its not your typical bank scenario?

    Thanks

    I am interested to know too.

    Also were there any delays in the process once you are approved during the sale. Is the council slower compared to regular bank after the approval?

    You can't give details of house during application process, it has to be TBA. No vendor/auctioneer will take a bid without approval being in place. I wonder if the negative press will put auctioneers off accepting bids even with approval


  • Registered Users Posts: 33 mirabella1


    coil1985 wrote: »
    Do you not have to give the house details as part of the application?
    Thank you. Can I ask you how much?


  • Registered Users Posts: 1,294 ✭✭✭scheister


    I was chatting to my friend about this scheme the other day. She has just moved into a house using RBI. I will be looking at doing so next summer assuming more money goes into it in the budget. The following question came up neither of us was sure about.

    I am likely to have two pay increased between now and next June. The first will not put the over the 50k the 2nd might.

    Does anyone know if your pay goes above the 50k after being approved but before drawdown can the council revoke the mortgage offer?


  • Registered Users Posts: 3,287 ✭✭✭givyjoe


    scheister wrote: »
    I was chatting to my friend about this scheme the other day. She has just moved into a house using RBI. I will be looking at doing so next summer assuming more money goes into it in the budget. The following question came up neither of us was sure about.

    I am likely to have two pay increased between now and next June. The first will not put the over the 50k the 2nd might.

    Does anyone know if your pay goes above the 50k after being approved but before drawdown can the council revoke the mortgage offer?

    I think you're supposed to notify them of a change in circumstances that may affect your application, but not sure if in reality they double check your pay after you've already been approved.


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  • Registered Users Posts: 40 Whodanoob


    Does anyone know, do you have to buy a new build with RI or can you buy a second hand house?


  • Registered Users Posts: 196 ✭✭Evenstevens


    givyjoe wrote: »
    I think you're supposed to notify them of a change in circumstances that may affect your application, but not sure if in reality they double check your pay after you've already been approved.

    When you go sale agreed on a house you have to then supply bank statements from the time you applied until the present day as part of the form 3 documentation so they would see your salary there.


  • Registered Users Posts: 196 ✭✭Evenstevens


    Whodanoob wrote: »
    Does anyone know, do you have to buy a new build with RI or can you buy a second hand house?

    You can buy either.


  • Registered Users Posts: 10 Niallfarrell11


    Hi there,

    Can anybody recommend a good solicitor that they have used to buy a house in Dublin with this loan.

    Looking for someone who has dealt with the RIHL situation before.

    Thanks.


  • Registered Users Posts: 2 Jackdub92


    Hey did anyone find out progress on there application? It's been 3 weeks for me and I was just wondering do they send you a notification on how it is going?


  • Registered Users Posts: 566 ✭✭✭Len_007


    Jackdub92 wrote: »
    Hey did anyone find out progress on there application? It's been 3 weeks for me and I was just wondering do they send you a notification on how it is going?
    I sent mine in last April, still waiting :confused:


  • Registered Users Posts: 1,416 ✭✭✭Bigmac1euro


    How many years bank statements is required for the RIHL ?


  • Registered Users Posts: 27 JessC1987


    Jackdub92 wrote: »
    Hey did anyone find out progress on there application? It's been 3 weeks for me and I was just wondering do they send you a notification on how it is going?

    I rang 4 weeks after submitting application and was advised we had been passed by underwriters and that it was going to credit committee, 3.5 weeks later I received my approval in the post, so total of 7.5 weeks wait! We applied with DCC


  • Registered Users Posts: 27 JessC1987


    How many years bank statements is required for the RIHL ?
    12 months is needed for current accounts, savings and credit card statements


  • Registered Users Posts: 1,416 ✭✭✭Bigmac1euro


    JessC1987 wrote: »
    12 months is needed for current accounts, savings and credit card statements

    Thanks I just actually read it on the application form.

    Would an unauthorised over draft mess me up ? Bank went into the minus for approximately 7 hours and then back into the + I’m raging but I’m thinking of putting off applying for an extra month so it’s not on our statement.


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  • Registered Users Posts: 4 SLK85


    Feel sick to my stomach credit committee was due to meet this week waiting for reply, has anyone had any joy with Meath coco this year?


  • Registered Users Posts: 36 Laurazal


    SLK85 wrote: »
    Feel sick to my stomach credit committee was due to meet this week waiting for reply, has anyone had any joy with Meath coco this year?
    When did you apply? I am with Meat coco as well and wondering how long it takes before the application goes to credit committee.


  • Registered Users Posts: 27 JessC1987


    Thanks I just actually read it on the application form.

    Would an unauthorised over draft mess me up ? Bank went into the minus for approximately 7 hours and then back into the + I’m raging but I’m thinking of putting off applying for an extra month so it’s not on our statement.

    Oh I'm not sure on that one I'm afraid. I would call the County Council your planning on applying to for clarification to be 100% sure!


  • Registered Users Posts: 106 ✭✭LauraAaron


    Hi just wondering if anyone can tell me if having children goes against your application? The same way the bank looks for so much excess per month per child? We’ll be applying next year on the one income as a joint application for around hopefully €130k or €140k with having the 10% deposit and all loans and credit card cleared to give a better chance. I’ve worked out the mpi + the repayments and we’re def under the 30% net income each month and we’ve been paying the same money on rent for over 8 years which we can show. Just wondering if we’ve missed anything?


  • Registered Users Posts: 4 Jamesiekel


    Does anyone know why some councils are still approving people and some councils are not? I see people are getting approved here from different councils where some are not progressing at all? Does each council make a decision to stop progressing with applications or is it the Minister?


  • Registered Users Posts: 1,416 ✭✭✭Bigmac1euro


    JessC1987 wrote: »
    Oh I'm not sure on that one I'm afraid. I would call the County Council your planning on applying to for clarification to be 100% sure!

    Thanks for the info Jess :)


  • Registered Users Posts: 1,416 ✭✭✭Bigmac1euro


    LauraAaron wrote: »
    Hi just wondering if anyone can tell me if having children goes against your application? The same way the bank looks for so much excess per month per child? We’ll be applying next year on the one income as a joint application for around hopefully €130k or €140k with having the 10% deposit and all loans and credit card cleared to give a better chance. I’ve worked out the mpi + the repayments and we’re def under the 30% net income each month and we’ve been paying the same money on rent for over 8 years which we can show. Just wondering if we’ve missed anything?

    From what I have read they will take the children into account but they are nowhere near as harsh as the bank when it comes to how much each child costs. If you go onto rebuildingirelandhomeloan.ie and do the mortgage calculation you may be able to put in dependants and it should give you a rough estimate of what you can borrow.


  • Registered Users Posts: 1 JustBeHonest


    Dave087 wrote: »
    Hi Sarah,
    Yeah me and my partner are in the same situation as yourself. Applied to SDCC the first week of January and has been with credit committee since February. We've also been told they won't be issuing approvals until further government funding. Nobody in SDCC seems to know what's going on. Beyond a joke at this stage

    Hi Dave, I'm just wondering did you hear anything from South Dublin Coco yet? We lodged an application in January as well but I have been on the phone weekly since. I have also been banging on the doors of politicains & actually got an email back from Eoghan Murphy a few weeks back to say he has issued a sanction to the HFA to issue new funding to any LA looking for funds. I confirmed this with South Dublin coco and they told me two weeks ago that they are starting to work through approvals but we haven't got a letter yet from them. I'm wondering if anyone else has got their's as we were told when they were working through them they would be working in a chronological order and since we first applied in January, you would imagine we would be first? South Dublin coco received funding in May but I found out this was to fund approvals that they issued up to the end of 2018 so we should be first in line with this new round of funding


  • Registered Users Posts: 105 ✭✭Shamboo1801


    LauraAaron wrote:
    Hi just wondering if anyone can tell me if having children goes against your application? The same way the bank looks for so much excess per month per child? We’ll be applying next year on the one income as a joint application for around hopefully €130k or €140k with having the 10% deposit and all loans and credit card cleared to give a better chance. I’ve worked out the mpi + the repayments and we’re def under the 30% net income each month and we’ve been paying the same money on rent for over 8 years which we can show. Just wondering if we’ve missed anything?

    We have a 4 year old, joint salary of just shy of €75k, and we were granted the full €288k, but thankfully didn't need full amount. Didn't seem having one child had any bearing on our limit.


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  • Registered Users Posts: 36 Laurazal


    Meath Coco only took 3 weeks to approve our application. Delighted!
    Could anybody recommend a good solicitor in co.Meath?


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