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Rebuilding Ireland home loan

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Comments

  • #1082
    delkel38
    Registered Users Posts: 28 ✭delkel38


    bubbles46 wrote: »
    I went sale agreed on Feb 1st(Limerick coco),in these 3 wks ive had my valuation report done+sent in my up to date bank statements,payslips etc and now waiting on engineer to call to the house nxt week to do his report. I was hoping there wouldnt be too much paperwork after that but it looks like you've submitted loads more. Can i ask what the letter from your employer has to say?And with regards to a GP letter,is that a serious illness?I assume if you went to a GP in the last 2 yrs for minor things,that wont be an issue? Also how long ago did you go Sale Agreed?Thanks.
    The letter from employers is just to say how long you are With them and you're permanent . Letter from the gp is for the mpi. Have you filled that form yet (mpi)?


  • #1083
    bubbles46
    Registered Users Posts: 34 ✭bubbles46


    delkel38 wrote: »
    The letter from employers is just to say how long you are With them and you're permanent . Letter from the gp is for the mpi. Have you filled that form yet (mpi)?
    No I havent been asked to fill out that yet. Assume if you've been to GP for flu or such minor things,thats ok?
    Do you mind me asking how long ago you went sale agreed?


  • #1084
    delkel38
    Registered Users Posts: 28 ✭delkel38


    bubbles46 wrote: »
    No I havent been asked to fill out that yet. Assume if you've been to GP for flu or such minor things,thats ok?
    Do you mind me asking how long ago you went sale agreed?

    It's just a declaration from your gp saying you have no serious illness. I'm waiting since November to draw down for my self build. Different story for you but they are extremely slow to respond and progress applications. I hope it goes quickly for you. But as someone else said a few posts back be prepared to wait 4 months.


  • #1085
    bubbles46
    Registered Users Posts: 34 ✭bubbles46


    delkel38 wrote: »
    It's just a declaration from your gp saying you have no serious illness. I'm waiting since November to draw down for my self build. Different story for you but they are extremely slow to respond and progress applications. I hope it goes quickly for you. But as someone else said a few posts back be prepared to wait 4 months.
    Ok thanks. Im just terrified the owners of the house I bought will eventually pull out if they're waiting too long. The only thing on my side is its a second home for them so they're in no major rush. So many houses that i viewed in January had all had previous sales fall through for various reasons so I guess im on edge because of knowing that. Thanks.


  • #1086
    cal_chi
    Registered Users Posts: 69 ✭✭cal_chi


    Hi,

    Anyone here in process of/already applied to Louth Co. Council. I'd love to hear of your experience.. I've read through the entire thread, and near neighbours Meath, Fingal and DCC seem to have the most positive outcomes/experiences, but could only find one poster who applied to Louth.

    In terms of the proof of insufficient mortgage from banks, if I send in approval in principle from 2 banks which are not enough for what I need, will that suffice do ye think or will they just reject the AIP and send it back as incomplete? So frustrating that different local authorities seem to have differing criteria for what counts as proof of insufficient mortgages..

    I bought a brand new car last July on PCP, having given up completely the idea of ever being able to afford to buy a house, after being constantly outbid to cash buyers on everything that was in my price range. Now that I have begun looking again, this PCP is SERIOUSLY affecting how much I can borrow. For instance, my mortgage approval in principle with TSB is 40k with the car loan, 65k without and on Rebuilding Ireland, using their calculator, I can get 93k without the PCP and only 44k if I continue paying the monthly finance. Has anybody bought out their contract (in my case it would cost me 21k, but given that I could then, theoretically at least, access an extra 49k, that looks like a no-brainer yes?) Just wondering though, if they would frown on my doing that, so if anybody has done something similar, I would love to hear from you..

    Thanks in advance.


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  • #1087
    Evenstevens
    Registered Users Posts: 196 ✭✭Evenstevens


    Jmk725 wrote: »
    You would really think they would have a second person who could organise the funding, makes no sense to only have one person who can do it, what if they go out sick for weeks, does no-one get paid then???

    .

    Welcome to the public sector... That is how they roll in a lot of areas.


  • #1088
    pconn062
    Registered Users Posts: 5,370 ✭✭✭pconn062


    cal_chi wrote: »
    Hi,

    Anyone here in process of/already applied to Louth Co. Council. I'd love to hear of your experience.. I've read through the entire thread, and near neighbours Meath, Fingal and DCC seem to have the most positive outcomes/experiences, but could only find one poster who applied to Louth.

    In terms of the proof of insufficient mortgage from banks, if I send in approval in principle from 2 banks which are not enough for what I need, will that suffice do ye think or will they just reject the AIP and send it back as incomplete? So frustrating that different local authorities seem to have differing criteria for what counts as proof of insufficient mortgages..

    I bought a brand new car last July on PCP, having given up completely the idea of ever being able to afford to buy a house, after being constantly outbid to cash buyers on everything that was in my price range. Now that I have begun looking again, this PCP is SERIOUSLY affecting how much I can borrow. For instance, my mortgage approval in principle with TSB is 40k with the car loan, 65k without and on Rebuilding Ireland, using their calculator, I can get 93k without the PCP and only 44k if I continue paying the monthly finance. Has anybody bought out their contract (in my case it would cost me 21k, but given that I could then, theoretically at least, access an extra 49k, that looks like a no-brainer yes?) Just wondering though, if they would frown on my doing that, so if anybody has done something similar, I would love to hear from you..

    Thanks in advance.

    How would you plan on buying out the contract, would the money have to come from savings, or your deposit? PCP is a killer alright and generally is a nail in the coffin for mortgage applications.

    Myself and my wife are considering this as an option for us, and we would be applying in County Louth. Not too much info on LCC but I read in an article that as of August last year (I think) about 58% of the applications were successful, which is not bad. Can't offer anymore than that unfortunately as all we've done so far is look at the form. We need to wait until next January for my 2nd year of self emplyed accounts. Best of luck.


  • #1089
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    bubbles46 wrote: »
    I went sale agreed on Feb 1st(Limerick coco),in these 3 wks ive had my valuation report done+sent in my up to date bank statements,payslips etc and now waiting on engineer to call to the house nxt week to do his report. I was hoping there wouldnt be too much paperwork after that but it looks like you've submitted loads more. Can i ask what the letter from your employer has to say?And with regards to a GP letter,is that a serious illness?I assume if you went to a GP in the last 2 yrs for minor things,that wont be an issue? Also how long ago did you go Sale Agreed?Thanks.

    The letter from employer and GP was just to confirm that within the last 2 years I had not been out sick for more than 2 weeks for illness apart from flu, cold or backache. It said on my council letter what all I needed.

    Yea, once visit to GP wasn't for anything serious you should be okay.

    I went Sale agreed on the 6th February. I got structural report done asap to try and hurry things along.


  • #1090
    Shanvp
    Closed Accounts Posts: 17 ✭Shanvp


    trudy2222 wrote: »
    We handed ours in on Monday and just walked in. Best of luck!

    Dublin city council is a different story though, you need an appointment with them!

    So we just walked in today to find out that we DO need an appointment and the waiting time is 2 weeks at the moment. That was in Fingal co. Council, also they are only doing appointments on Wednesdays.


  • #1091
    Son
    Registered Users Posts: 289 ✭✭Son


    Can you show proof of savings with a current account?
    I have a savings account that gets some interest each year but no dedicated savings account to put money in every month, would this be a problem?


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  • #1092
    [Deleted User]
    Posts: 25,611 ✭✭✭✭[Deleted User]


    cal_chi wrote: »
    Hi,

    Anyone here in process of/already applied to Louth Co. Council. I'd love to hear of your experience.. I've read through the entire thread, and near neighbours Meath, Fingal and DCC seem to have the most positive outcomes/experiences, but could only find one poster who applied to Louth.

    In terms of the proof of insufficient mortgage from banks, if I send in approval in principle from 2 banks which are not enough for what I need, will that suffice do ye think or will they just reject the AIP and send it back as incomplete? So frustrating that different local authorities seem to have differing criteria for what counts as proof of insufficient mortgages..

    I bought a brand new car last July on PCP, having given up completely the idea of ever being able to afford to buy a house, after being constantly outbid to cash buyers on everything that was in my price range. Now that I have begun looking again, this PCP is SERIOUSLY affecting how much I can borrow. For instance, my mortgage approval in principle with TSB is 40k with the car loan, 65k without and on Rebuilding Ireland, using their calculator, I can get 93k without the PCP and only 44k if I continue paying the monthly finance. Has anybody bought out their contract (in my case it would cost me 21k, but given that I could then, theoretically at least, access an extra 49k, that looks like a no-brainer yes?) Just wondering though, if they would frown on my doing that, so if anybody has done something similar, I would love to hear from you..

    Thanks in advance.

    I haven't applied but if you could provide updates if you go through it it would be greatly appreciated. Wondering if Louth will accept the online calculators as evidence of not being able to get adequate funds elsewhere.


  • #1093
    aaakev
    Registered Users Posts: 3,088 ✭✭✭aaakev


    Sorry if this has already been asked but i can't find the answer. The income limit for a couple is 75k, does this include bonus and commission etc or can you go over the 75k with this?


  • #1094
    Fiftyfilthy
    Registered Users Posts: 554 ✭✭✭Fiftyfilthy


    aaakev wrote: »
    Sorry if this has already been asked but i can't find the answer. The income limit for a couple is 75k, does this include bonus and commission etc or can you go over the 75k with this?


    Can’t go over, they are very strict on the limit


  • #1095
    givyjoe
    Registered Users Posts: 3,287 ✭✭✭givyjoe


    Fiftyfilthy wrote: »
    Can’t go over, they are very strict on the limit

    The limit doesn't include non guaranteed income though, i.e.bonuses.


  • #1096
    jesso22
    Registered Users Posts: 54 ✭✭jesso22


    jesso22 wrote: »
    It was estimated we'd get our keys tomorrow, but alas Laois Co Co. hasn't drawn down the mortgage yet. The ONE person in charge of funding is on holidays 😑

    Update! We have been informed that the council will not draw down the mortgage until Friday 8th March, so it will be the middle of March before we get the keys. This is from an estimated close of sale for Feb 22. We are sale agreed since November. Laois Co. Co. Just a bit of perspective for people.


  • #1097
    aaakev
    Registered Users Posts: 3,088 ✭✭✭aaakev


    givyjoe wrote: »
    Fiftyfilthy wrote: »
    Can’t go over, they are very strict on the limit

    The limit doesn't include non guaranteed income though, i.e.bonuses.
    Are you sure about that? Say i had a salary of 65k but commission and bonus brought it up to 85k would thst be accepted if they were regular but not guaranteed?


  • #1098
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    aaakev wrote: »
    Are you sure about that? Say i had a salary of 65k but commission and bonus brought it up to 85k would thst be accepted if they were regular but not guaranteed?

    I would advise you to message on the Rebuilding Ireland chat and see what they say.
    They should be able to tell you.


  • #1099
    givyjoe
    Registered Users Posts: 3,287 ✭✭✭givyjoe


    aaakev wrote: »
    Are you sure about that? Say i had a salary of 65k but commission and bonus brought it up to 85k would thst be accepted if they were regular but not guaranteed?

    Single income limit is 50k.

    It's what I was told by the agents on the rebuild website.


  • #1100
    Darkglasses
    Moderators, Computer Games Moderators, Sports Moderators Posts: 14,526 Mod ✭✭✭✭Darkglasses


    givyjoe wrote: »
    Single income limit is 50k.

    It's what I was told by the agents on the rebuild website.

    He's asking as regards a joint application.


    The original question, I'd actually recommend asking the staff at the county council you want to apply to if at all possible. They're the ones that'll actually deal with your application, the website agents don't actually have any role in applications. They're not local authority staff.


  • #1101
    givyjoe
    Registered Users Posts: 3,287 ✭✭✭givyjoe


    Darkglasses wrote: »
    He's asking as regards a joint application.


    The original question, I'd actually recommend asking the staff at the county council you want to apply to if at all possible. They're the ones that'll actually deal with your application, the website agents don't actually have any role in applications. They're not local authority staff.
    The post I replied to stated "I".

    The agents aren't on the site aren't guessing basic FAQs.

    Just to clarify, earlier a poster stated that bonuses taking you over 75k would rule you out, that is absolutely not the case. It MAY rule them out depending how they interpret your bonus/commission structure. Poster should apply and let the local authority decide or as you suggest at the very least, check with them.


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  • #1102
    Darkglasses
    Moderators, Computer Games Moderators, Sports Moderators Posts: 14,526 Mod ✭✭✭✭Darkglasses


    givyjoe wrote: »
    The post I replied to stated "I".

    The agents aren't on the site aren't guessing basic FAQs.

    Just to clarify, earlier a poster stated that bonuses taking you over 75k would rule you out, that is absolutely not the case. It MAY rule them out depending how they interpret your bonus/commission structure. Poster should apply and let the local authority decide or as you suggest at the very least, check with them.

    Yep, he can earn 65k just fine, as long as it's a joint application. The second applicant needs to earn less than 10k in that situation.


  • #1103
    shivermetimber
    Registered Users Posts: 270 ✭✭shivermetimber


    Just a few quick questions on the initial application that I'm sure have been covered in pages back but I'll ask anyway. 2 and 3 seem cart before horse to me so really unsure of these.

    1 - Are they accepting online bank refusals or only written?

    2 - What are people putting into the details of property to be mortgaged and the mortgage details sections?

    3 - What are people putting in for solicitor and valuation access sections?

    4 - How do you get a HPL1 form completed by the revenue commissioner?


  • #1104
    jonny_b1
    Registered Users Posts: 129 ✭✭jonny_b1


    Joint application approved for Cork County. Delighted. Pressure on now to buy.

    Approx 6 weeks from submission to approval letter. Approved 3k short of max amount. We figure that was because our savings was 35k. 32k being 10% of max


  • #1105
    jonny_b1
    Registered Users Posts: 129 ✭✭jonny_b1


    shivermetimber wrote: »
    Just a few quick questions on the initial application that I'm sure have been covered in pages back but I'll ask anyway. 2 and 3 seem cart before horse to me so really unsure of these.

    1 - Are they accepting online bank refusals or only written?

    2 - What are people putting into the details of property to be mortgaged and the mortgage details sections?

    3 - What are people putting in for solicitor and valuation access sections?

    4 - How do you get a HPL1 form completed by the revenue commissioner?

    1. Written only.
    2. The property you wish to buy or if you haven't got one like us, put "To Be Advised" or "TBA". That's what we were told at the local office.
    3. We had a solicitor anyway so gave his details. Anything relating directly to the property put TBA or leave blank.
    4. HPL 1 is signed at your nearest revenue office,had ours done in 24hrs. Went in person and collected in person.

    The advice I can give is speak to your local council directly. Ask all these questions to those directly involved with the process. With any paperwork,go in person. Chase them.


  • #1106
    swarmberg
    Registered Users Posts: 103 ✭✭swarmberg


    shivermetimber wrote: »

    4 - How do you get a HPL1 form completed by the revenue commissioner?

    Just a note on this - I sent in a "myenquiry" with revenue on the first week of January and received the HPL1 form this week. In the meantime I went to my local revenue office and they stamped it on the spot so if time is an issue go directly.


  • #1107
    steveyod
    Registered Users Posts: 2 ✭steveyod


    Hi, does dependants affect you with this scheme? I thought I heard they do not, maybe I'm wrong?


  • #1108
    Shamboo1801
    Registered Users Posts: 105 ✭✭Shamboo1801


    steveyod wrote:
    Hi, does dependants affect you with this scheme? I thought I heard they do not, maybe I'm wrong?


    We have a 4 year old and it didn't have any bearing on us being approved.


  • #1109
    Sarah2019
    Closed Accounts Posts: 1 ✭Sarah2019


    Hi, Is there a medial examination required for the MPI?


  • #1110
    daisyk19
    Registered Users Posts: 3 ✭daisyk19


    jonny_b1 wrote: »
    Joint application approved for Cork County. Delighted. Pressure on now to buy.

    Approx 6 weeks from submission to approval letter. Approved 3k short of max amount. We figure that was because our savings was 35k. 32k being 10% of max

    Hi can I just asked as your application delayed due to the delay in funding or did it just go straight through? I have applied with a different county council and there is a delay with funding for 2019.


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  • #1111
    daisyk19
    Registered Users Posts: 3 ✭daisyk19


    BrownFinger wrote: »
    His is from Eoin Murphys office
    8th of feb

    The Department of Housing, Planning and Local Government is currently in discussions with the Departments of Public Expenditure and Reform and Finance with regard to an extension of the scheme in this regard. When these discussions are concluded, the Department will be in a position to make an announcement on the matter.



    Yours sincerely,

    Hi, just wondering if anyone heard anymore on the issue of funding?


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