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Rebuilding Ireland home loan

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    #1202
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    Quinnciara wrote: »
    Has anyone any idea how long after handing In all the documents to the council e.g. forms 1 2 3 medical certs work certs etc how long it takes for them to send the loan pack to solicitors. My vendors solicitor has already sent the contracts and transfer deeds on so I'm pretty eager.

    Im in exact same boat as you.
    Council's solicitors got the documentation today, even though Council said they would send it 2 weeks ago!
    Just waiting on their solicitor to contact mine, have already gotten info from sellers solicitor, hope they won't take too long for both of us.

    What Council are you applying with?


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    #1203
    Quinnciara
    Registered Users Posts: 44 ✭Quinnciara


    Jmk725 wrote: »
    Im in exact same boat as you.
    Council's solicitors got the documentation today, even though Council said they would send it 2 weeks ago!
    Just waiting on their solicitor to contact mine, have already gotten info from sellers solicitor, hope they won't take too long for both of us.

    What Council are you applying with?

    Hey, how did you find out that the council's solicitors got the documentation? Did you ring them ? I'm with dublin city council what about you ? It's the longest most stressful time ever 🙄


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    #1204
    Sweet.Science
    Registered Users Posts: 2,837 ✭✭✭Sweet.Science


    VW08 wrote: »
    Someone asked earlier what other CoCos were effected, got a call from Cork CoCo and their funds are on hold too.

    New applications are still being accepted but they won’t go anywhere until the funding is sorted.


    Seems like they are making stuff up as they go along


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    #1205
    SPurple
    Registered Users Posts: 19 ✭SPurple


    BrownFinger wrote: »
    Thats awful,
    They are a bunch of clowns in KCC.
    I did get it in writing and posted a picture of the letter here a few pages back.
    At one stage I called in there in person and was told by reception "they dont answer the phones up there".

    I completely agree. When did you apply? Just curious, as I have received nothing from them and applied months before anyone else I'm hearing about that got a letter.


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    #1206
    92841
    Registered Users Posts: 9 ✭92841


    So I'm sale agreed, paid my solicitor my 10% deposit, signed contracts and all that. I've been given a couple of things to do before i drawdown... One of these is to get "A copy of the Building Insurance Schedule showing the County Council's interest noted in respect of the property"

    Any idea what this is? If it's to do with home insurance, surely I can't get that until I get an exact closing date for the sale because I can't organise home insurance without a start date for my home insurance policy.


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    #1207
    Ronnie77
    Registered Users Posts: 1 ✭Ronnie77


    Anybody ever applied to Wexford Cc or Kilkenny and been successful?
    Does anybody know if it’s worth my while applying now with the news of the funding running out?

    Update
    Rang Wexford cc they said that the 200m funding is just about used up. They are awaiting further news in 2 weeks
    They said that once further funding is acquired the interest rate will prob increased by 1/4 %


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    #1208
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    Quinnciara wrote: »
    Hey, how did you find out that the council's solicitors got the documentation? Did you ring them ? I'm with dublin city council what about you ? It's the longest most stressful time ever 🙄

    Yea, I rang the solicitors to confirm they had received the documentation.
    The council was meant to send it 2 weeks ago when I dropped everything in but apparently they were too busy to send it over.
    I'm with Monaghan, yea it is so stressful, just got documents from sellers solicitor so just waiting on council now.


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    #1209
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    92841 wrote: »
    So I'm sale agreed, paid my solicitor my 10% deposit, signed contracts and all that. I've been given a couple of things to do before i drawdown... One of these is to get "A copy of the Building Insurance Schedule showing the County Council's interest noted in respect of the property"

    Any idea what this is? If it's to do with home insurance, surely I can't get that until I get an exact closing date for the sale because I can't organise home insurance without a start date for my home insurance policy.

    It is to do with the home insurance.
    You should have a rough date that you can move it, explain to the Insurance company that you will need to come back with an exact date.


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    #1210
    klub44
    Registered Users Posts: 63 ✭✭klub44


    Got this from Fingal yesterday:

    "Good Afternoon.



    I can confirm we are processing applications for the Rebuilding Ireland Loan Scheme. Please submit your application as soon as you have all of the required documentation.



    Many thanks"


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    #1211
    VW08
    Registered Users Posts: 61 ✭✭VW08


    klub44 wrote: »
    Got this from Fingal yesterday:

    "Good Afternoon.



    I can confirm we are processing applications for the Rebuilding Ireland Loan Scheme. Please submit your application as soon as you have all of the required documentation.



    Many thanks"


    Ah that’s great. Good to hear good news! Hopefully progress is being made with the funding. Seems to be massive differences between the CoCos though. At what point are you in the process? I got the mortgage in principle, but now it’s on hold indefinitly for the actual approval.


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    #1212
    Sweet.Science
    Registered Users Posts: 2,837 ✭✭✭Sweet.Science


    VW08 wrote: »
    Ah that’s great. Good to hear good news! Hopefully progress is being made with the funding. Seems to be massive differences between the CoCos though. At what point are you in the process? I got the mortgage in principle, but now it’s on hold indefinitly for the actual approval.


    What complete nonsense i actually feel sorry for the people working in the councils. They dont have a clue either. They cant tell people to stop applying until the government actually says something


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    #1213
    klub44
    Registered Users Posts: 63 ✭✭klub44


    VW08 wrote: »
    Ah that’s great. Good to hear good news! Hopefully progress is being made with the funding. Seems to be massive differences between the CoCos though. At what point are you in the process? I got the mortgage in principle, but now it’s on hold indefinitly for the actual approval.

    I'm waiting for seller to sign his part of contract, and then we should get money from council.


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    #1214
    VW08
    Registered Users Posts: 61 ✭✭VW08


    Sweet.Science wrote: »
    What complete nonsense i actually feel sorry for the people working in the councils. They dont have a clue either. They cant tell people to stop applying until the government actually says something

    I agree completely. Council is saying one thing and the ministers office is saying another. Rang the ministers office this morning and was pretty much told that it’s business as usual and that I should contact my council if there’s a problem. I explained that their saying the funding is gone. And was told that that wasn’t the case, that their still taking applications and to talk to my council! I said that I was told that yes they’re accepting applications but the applications aren’t going anywhere. Again I was told to contact my council.


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    #1215
    92841
    Registered Users Posts: 9 ✭92841


    Jmk725 wrote: »
    Bubbles46, you get the engineers report, normally 2 copies.
    You should have gotten a letter from council when approved detailing all items needing to be submitted at this stage.
    In my case, I had:
    1. Form 3 that Council gave me
    2. Engineers Report
    3. Up to date current/deposit bank/credit union statements
    4. Recent payslip
    5. Draft Family Home Declaration Form
    6. Valuation Report, normally goes to council from valuer anyway
    7. Mortgage Protection Application
    8. Letter from employer confirming not out sick in last 2 years apart from flu, cold, backache.
    9. Same as above but from G.P.
    10. Completed DD Mandate Form

    All of this should be on a letter received from the Council anyway.

    Such a difference with all the councils... All i had to do was:

    1. Valuation
    2. Engineer's Report
    3. Mortgage Protection Application
    4. Direct Debit Mandate

    Should be ready to drawdown as soon as the vendor's Solicitor finalise 1 or 2 little things.


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    #1216
    DamoNolan
    Registered Users Posts: 150 ✭✭DamoNolan


    92841 wrote: »
    Such a difference with all the councils... All i had to do was:

    1. Valuation
    2. Engineer's Report
    3. Mortgage Protection Application
    4. Direct Debit Mandate

    Should be ready to drawdown as soon as the vendor's Solicitor finalise 1 or 2 little things.
    Which coco are you going through ??


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    #1217
    holliehobbie
    Registered Users Posts: 395 ✭✭holliehobbie


    92841 wrote: »
    Such a difference with all the councils... All i had to do was:

    1. Valuation
    2. Engineer's Report
    3. Mortgage Protection Application
    4. Direct Debit Mandate

    Should be ready to drawdown as soon as the vendor's Solicitor finalise 1 or 2 little things.

    You will have to have the Family Home Declaration anyway. And house insurance.


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    #1218
    DamoNolan
    Registered Users Posts: 150 ✭✭DamoNolan


    VW08 wrote: »
    Ah that’s great. Good to hear good news! Hopefully progress is being made with the funding. Seems to be massive differences between the CoCos though. At what point are you in the process? I got the mortgage in principle, but now it’s on hold indefinitly for the actual approval.
    Which coco are you going through?


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    #1219
    VW08
    Registered Users Posts: 61 ✭✭VW08


    DamoNolan wrote: »
    Which coco are you going through?


    I’m with Cork CoCo.


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    #1220
    Stekell
    Registered Users Posts: 31 ✭Stekell


    Hi

    I am a newbie to the forum, I am applying for the scheme and am just wondering if anyone has been accepted with a gift from a relation to make up the deposit, If so, how do you go about it when applying?

    thanks in advance


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    #1221
    brianmax88
    Registered Users Posts: 66 ✭✭brianmax88


    Stekell wrote: »
    Hi

    I am a newbie to the forum, I am applying for the scheme and am just wondering if anyone has been accepted with a gift from a relation to make up the deposit, If so, how do you go about it when applying?

    thanks in advance

    Have you been saving for a full year without making any withdrawals? I was refused because i withdrew money from my savings account because i got engaged and had 2 weddings close together. Even though i had been saving continuously for over a year..


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    #1222
    Stekell
    Registered Users Posts: 31 ✭Stekell


    brianmax88 wrote: »
    Have you been saving for a full year without making any withdrawals? I was refused because i withdrew money from my savings account because i got engaged and had 2 weddings close together. Even though i had been saving continuously for over a year..


    Yes two of us saving and renting for the last year and have saved half the €32,000 but the renting restricts us having the full amount saved so we have been gifted the other half by family...


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    #1223
    brianmax88
    Registered Users Posts: 66 ✭✭brianmax88


    Stekell wrote: »
    Yes two of us saving and renting for the last year and have saved half the €32,000 but the renting restricts us having the full amount saved so we have been gifted the other half by family...

    You should be fine so as long as you can show you have been saving for a full year. Gifts are alllowed.


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    #1224
    Sweet.Science
    Registered Users Posts: 2,837 ✭✭✭Sweet.Science


    Fingal CoCo have stopped taking applications


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    #1225
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    One step closer, got loan offer signed and returned to council.
    Have to wait for their solicitor to send mortgage contract to my solicitor and then draw down funds.
    Light at the end of the tunnel finally.


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    #1226
    Maryvind
    Registered Users Posts: 6 ✭Maryvind


    Hi all,
    I have read through all of the comments. Myself and my partner both moved back in with parents in order to save deposit. We are living rent free and saving consistently for the past year. We submitted our RIHL application and are due to meet with the council next week. They have asked for further documentaction before meeting. One thing they are looking for is a letter from parents to state we are living at home and rent/contributions we are paying. As previously mentioned, we are not paying rent. We contribute to overall household costs...bills food etc..has anyone else been asked to submit such a letter? And if so... what's the 'ideal' letter they are looking for. Our household contributions would not show up on bank statements. When we initially went for a mortgage with the banks they didn't look for a letter like this as they said our monthly savings show we could afford mortgage and many people are living rent free with parents in order to save. Any information would be greatly appreciated. Mary


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    #1227
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    Just wanted to let everyone know that a new Mortgage Payment Insurance form was issued on the 1st March 2019.
    Anybody who previously got one of the old forms and hadn't sent it to their Council yet may need to get a new form.
    I dropped in mine today and was given the new form to fill out instead.


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    #1228
    donfers
    Banned (with Prison Access) Posts: 4,006 ✭✭✭donfers


    On the savings thing am I correct in saying that payment of massive rents can count as evidence of saving? For example if one is applying for mortgage at 1300 per month but has history of paying 1700 a month in rent for more than 12 months then surely they wouldn’t ask for proof of savings on top of that?


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    #1229
    Quinnciara
    Registered Users Posts: 44 ✭Quinnciara


    Jmk725 wrote: »
    One step closer, got loan offer signed and returned to council.
    Have to wait for their solicitor to send mortgage contract to my solicitor and then draw down funds.
    Light at the end of the tunnel finally.

    Great news, is this the form the council sent out with approval that you sent back in ? Form 1,2,3 etc ?


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    #1230
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    Quinnciara wrote: »
    Great news, is this the form the council sent out with approval that you sent back in ? Form 1,2,3 etc ?

    No, this is the form after Form 3 lol
    One that both I and my solicitor sign.
    Still have the contract to arrive.


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    #1231
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    donfers wrote: »
    On the savings thing am I correct in saying that payment of massive rents can count as evidence of saving? For example if one is applying for mortgage at 1300 per month but has history of paying 1700 a month in rent for more than 12 months then surely they wouldn’t ask for proof of savings on top of that?

    They would still be looking for evidence of the 10% deposit that you have to provide.


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