Government Funds Local Authority Housing Scheme

Mario787 · 24-05-2018 8:28pm

Just looked over the application form to see how far away I am from being able to apply, some questions if anyone can answer them.

1) Under "FINANCIAL HISTORY & COMMITMENTS - Savings" there's an option for "Other". Would it be allowed to enter in the value of your shares here as a deposit (that's where all my money is right now). I understand that these amounts could change, but because of that I'd take away say 5% or even 10% to make sure if the value drops in x amount of weeks it should still be okay. I'd rather not sell everything and then get denied. Bank statements aren't of much use if I have a very low amount in my bank account, and I'm not sure if a statement of my stockbroker would do.

2) Under "DETAILS OF PROPERTY TO BE MORTGAGED" - what do I do in this case if I don't have a specific property that I want right now? I'd assume by the time the application is approved that the property has a good chance of being gone anyway. At the minute I just know I need £xxx for the type of property I want.

3) Same applies for "SOLICITOR" and "VALUATION ACCESS". I understand these need to be done for obvious reasons, but do these need to be filled in before applying? As I said above, I don't have my heart set on 1 specific property right now.

Thanks in advance.

Ailbag · 24-05-2018 9:20pm

Mario787 wrote: »

Just looked over the application form to see how far away I am from being able to apply, some questions if anyone can answer them.

1) Under "FINANCIAL HISTORY & COMMITMENTS - Savings" there's an option for "Other". Would it be allowed to enter in the value of your shares here as a deposit (that's where all my money is right now). I understand that these amounts could change, but because of that I'd take away say 5% or even 10% to make sure if the value drops in x amount of weeks it should still be okay. I'd rather not sell everything and then get denied. Bank statements aren't of much use if I have a very low amount in my bank account, and I'm not sure if a statement of my stockbroker would do.

2) Under "DETAILS OF PROPERTY TO BE MORTGAGED" - what do I do in this case if I don't have a specific property that I want right now? I'd assume by the time the application is approved that the property has a good chance of being gone anyway. At the minute I just know I need £xxx for the type of property I want.

3) Same applies for "SOLICITOR" and "VALUATION ACCESS". I understand these need to be done for obvious reasons, but do these need to be filled in before applying? As I said above, I don't have my heart set on 1 specific property right now.

Thanks in advance.

Dunno much about shares but regarding your 2nd two questions, just leave them blank or put in N/A. The application takes 6+ weeks so you wouldn't want to be waiting on it to buy a particular house, especially in Dublin....

bri007 · 24-05-2018 9:27pm

Anyone know from experiences themselves with the rebuilding Ireland mortgages, that if you are currently (2018) over the max income level currently 75k for a couple but last year (2017) were under it would they accept this.

I got two different answers from two different people on the chat option today!

We got incremental this year, so when we provide the 4 recent pay slips we will be over the limit!

Confusing

Mario787 · 28-05-2018 9:20pm

Has any one applied using online calculators as their rejection "letters"? I've my eye on a dream house but I highly double it'll still be around if I have to wait for 2 banks to reject me and then the council to approve it. I know it's still a risk to apply without using actual rejection letters but the site's FAQs does say it's allowed so who knows?

raheny red · 28-05-2018 11:50pm

Mario787 wrote: »

Has any one applied using online calculators as their rejection "letters"? I've my eye on a dream house but I highly double it'll still be around if I have to wait for 2 banks to reject me and then the council to approve it. I know it's still a risk to apply without using actual rejection letters but the site's FAQs does say it's allowed so who knows?

Applied to Dub Coco and Fingal with online calculators.

stryker mcqueen · 29-05-2018 12:02am

raheny red wrote: »

Applied to Dub Coco and Fingal today with online calculators.

I can't get in contact with fingal , number rings out and no response to emails,

Can I ask you did you make an appointment or just Rock up? I have my application ready to go .

Also about to take on the wrath of South Dublin county council for a second time!!!!!

raheny red · 29-05-2018 12:11am

stryker mcqueen wrote: »

I can't get in contact with fingal , number rings out and no response to emails,

Can I ask you did you make an appointment or just Rock up? I have my application ready to go .

Also about to take on the wrath of South Dublin county council for a second time!!!!!

customercareunit@fingal.ie

customerservices@dublincity.ie

Emailed both of those, appointments were sorted within an hour of my original emails. While in Dub coco 3 others came in and all had arranged an appointment so prob best off not rocking up. Both meetings lasted about 15 mins and very informal. They just make sure you have all the correct paperwork.

stryker mcqueen · 29-05-2018 12:15am

raheny red wrote: »

customercareunit@fingal.ie

customerservices@dublincity.ie

Emailed both of those, appointments were sorted within an hour of my original emails. While in Dub coco 3 others came in and all had arranged an appointment so prob best off not rocking up. Both meetings lasted about 15 mins and very informal. They just make sure you have all the correct paperwork.

Thanks , applied to Dublin city 3 weeks ago and found them brilliant , South Dublin not as helpful.

I'll try fingal again tomorrow, I've sent 3 emails to the above address

foodiewarrior · 29-05-2018 12:23am

Fingal you need to have a appointment. Meeting took 45min in Blanchardstown.
Dublin city C you better make an appointment. You ring them, they answer the phone every time. Appointment took 1 hour.

bri007 · 29-05-2018 6:58am

Do you just screen grab the online calculator from the banks website and print it off then and add to to your application?

Thanks

raheny red · 29-05-2018 8:09am

bri007 wrote: »

Do you just screen grab the online calculator from the banks website and print it off then and add to to your application?

Thanks

Yep, that's what we did.

bri007 · 29-05-2018 9:46am

Thanks, I will get cracking on that ASAP and send in an application

quote="raheny red;107126847"]Yep, that's what we did.[/quote]

morninwood · 29-05-2018 11:16am

Hi all,

This is probably a daft question.
I am looking into this scheme but do not have a specific property picked yet. The application form requires the details of the property to be mortgaged. I figured I'd first sort the mortgage approval in principal, like I would with a bank, and then go house hunting. Surely I can't go bidding for properties without having some sort of finance lined up.

Also, I am currently renting but have never kept a rent book and the payments are cash-in-hand. I am fine with just not having the rent payments factored in when assessing my financials. Any issues with declaring this as other and explaining the circumstances?

Thanks for any help with this.

Whodat19 · 29-05-2018 11:24am

morninwood wrote: »

Hi all,

This is probably a daft question.
I am looking into this scheme but do not have a specific property picked yet. The application form requires the details of the property to be mortgaged. I figured I'd first sort the mortgage approval in principal, like I would with a bank, and then go house hunting. Surely I can't go bidding for properties without having some sort of finance lined up.

Also, I am currently renting but have never kept a rent book and the payments are cash-in-hand. I am fine with just not having the rent payments factored in when assessing my financials. Any issues with declaring this as other and explaining the circumstances?

Thanks for any help with this.

You pop down address unknown & the county. That's what we were told to do.

Also you can get a headed letter written up from landlord/letting agent saying how much you pay.

bri007 · 29-05-2018 1:02pm

Is it worth applying now or waiting, my girlfriend is working over two years but I am not a full year yet working, will be in a few months.

Wi I just hang on or apply now

voodosheeb · 29-05-2018 1:04pm

bri007 wrote: »

Is it worth applying now or waiting, my girlfriend is working over two years but I am not a full year yet working, will be in a few months.

Wi I just hang on or apply now

you need to be in permanent employment to apply so if your permanent you should apply now

marieholmfan · 29-05-2018 1:44pm

bri007 wrote: »

Is it worth applying now or waiting, my girlfriend is working over two years but I am not a full year yet working, will be in a few months.

Wi I just hang on or apply now

Apply now because the worst that can happen is that you will be rejected and also the scheme may be wound up at any time.

Lolle06 · 29-05-2018 2:17pm

marieholmfan wrote: »

Apply now because the worst that can happen is that you will be rejected and also the scheme may be wound up at any time.

Yes, but he will have to meet the eligibility criteria - this is at least 12 month in permanent employment for the joint applicant.
If he applies without it, he will be declined at the first hurdle - which is a waste of time & effort.

I’d suggest to wait until you can proof a full year of employment - this scheme will be extended according to the government.

bri007 · 29-05-2018 3:44pm

I was told by DCC that they have changed that now and it just have to be 1 year continuous employment and 2 years continuous employment for the main applicant of the two applying?

Lolle06 · 29-05-2018 4:43pm

bri007 wrote: »

I was told by DCC that they have changed that now and it just have to be 1 year continuous employment and 2 years continuous employment for the main applicant of the two applying?

I am sorry, perhaps I misunderstood, or I phrased it wrong: the joint applicant need to show employment for the last 12 month previous to application.
I understood that you can’t show that yet - or was the question about the permanent bit? Sorry for the confusion!

bri007 · 29-05-2018 4:47pm

Ah your grand

thanks for the reply.

Yeah it's the one year work that's holding us back right now unfortunately.

Just anxious to get a mortgage and only possible option would be through this scheme. Problem is we are getting increments this year and then we will be over the joint 75k max income level!

Lolle06 wrote: »

I am sorry, perhaps I misunderstood, or I phrased it wrong: the joint applicant need to show employment for the last 12 month previous to application.
I understood that you can’t show that yet - or was the question about the permanent bit? Sorry for the confusion!

Coinsguy · 29-05-2018 7:36pm

raheny red wrote: »

Applied to Dub Coco and Fingal with online calculators.

And it was accepted? Or have you only applied?

bri007 · 29-05-2018 9:56pm

Anyone know with the rebuild Ireland scheme, if you can put more of a deposit up, so over the minimum 10%.

So for example say they will give us maximum loan of €250,000, so we can realistically buy a house valued at €275,000. So we need €25,000 of a deposit, but could we put another say €15,000 along with it and be able to buy a house for €290,000 instead of the 275,000?

I asked on the online chat but they wouldn’t give me an answer!

Thanks

metricspaces · 29-05-2018 10:01pm

If you are looking to buy a property for say 250k and the online calculator for this scheme says you are entitled to 150k, what are the possible outcomes if you apply for the max 150k and state you are buying a property for 250k?

Will they respond (a) yes\no for 150k or (b) yes\no for 150k, or offer a lower amount?

Has anyone any actual experience of requesting a certain amount and being offered less? If anyone has experienced this, did you request the maximum allowed by the calculator? Did you specify a house price on the form?

Mario787 · 29-05-2018 10:04pm

bri007 wrote: »

Anyone know with the rebuild Ireland scheme, if you can put more of a deposit up, so over the minimum 10%.

So for example say they will give us maximum loan of €250,000, so we can realistically buy a house valued at €275,000. So we need €25,000 of a deposit, but could we put another say €15,000 along with it and be able to buy a house for €290,000 instead of the 275,000?

I asked on the online chat but they wouldn’t give me an answer!

Thanks

I don't see why not but don't quote me on that. I always read it as 10% or more of the deposit, just like a bank.

Darkglasses · 29-05-2018 10:13pm

bri007 wrote: »

Anyone know with the rebuild Ireland scheme, if you can put more of a deposit up, so over the minimum 10%.

So for example say they will give us maximum loan of €250,000, so we can realistically buy a house valued at €275,000. So we need €25,000 of a deposit, but could we put another say €15,000 along with it and be able to buy a house for €290,000 instead of the 275,000?

I asked on the online chat but they wouldn’t give me an answer!

Thanks

Yes there's no problem with that, just so long as it doesn't go over the maximum purchase price for your county.

raheny red · 29-05-2018 11:08pm

Coinsguy wrote: »

And it was accepted? Or have you only applied?

Just applied but both agents were fine with them.

Coinsguy · 29-05-2018 11:11pm

raheny red wrote: »

Just applied but both agents were fine with them.

Which ones did you use out of interest? Maybe some are more highly regarded or something.

raheny red · 29-05-2018 11:15pm

Coinsguy wrote: »

Which ones did you use out of interest? Maybe some are more highly regarded or something.

AIB, EBS, and KBC.

What council did you go with? Were you rejected because you used online calcs?

triple nipple · 30-05-2018 8:13am

Out of interest, what's stopping someone from cancelling the mandatory MPI and getting a more reasonable one elsewhere?

surrender monkey · 30-05-2018 8:36am

You can't stop the mpi as it's literally rolled into the monthly payment with any council mortgage.

metricspaces · 30-05-2018 8:37am

Anyone who has been successful in this process. Did you put down a property price on the form?

SNNUS · 30-05-2018 6:39pm

metricspaces wrote: »

Anyone who has been successful in this process. Did you put down a property price on the form?

No need to, just put TBA

metricspaces · 31-05-2018 7:46am

SNNUS wrote: »

No need to, just put TBA

Yes, I have read that people have left out the property price. Nonetheless, is there anyone here who got approved and did put the property price down on the form? Did you ask for the max loan as per calculator on website? Were you offered the amount you asked for or lower?

bri007 · 31-05-2018 10:50am

Just met with DCC about applying for the rebuilding ireland mortgage.

They told me we wouldn't meet the criteria based on our current salaries, because we got an increment this year, we are €1k over the €75k max limit!

We met it last year but they said they look at current salaries as well. So frustrating, banks won't look at us either.

Pelvis · 31-05-2018 11:06am

bri007 wrote: »

Just met with DCC about applying for the rebuilding ireland mortgage.

They told me we wouldn't meet the criteria based on our current salaries, because we got an increment this year, we are €1k over the €75k max limit!

We met it last year but they said they look at current salaries as well. So frustrating, banks won't look at us either.

Why won't banks look at you?

stryker mcqueen · 31-05-2018 11:48am

bri007 wrote:

We met it last year but they said they look at current salaries as well. So frustrating, banks won't look at us either.

bri007 wrote:

They told me we wouldn't meet the criteria based on our current salaries, because we got an increment this year, we are â‚¬1k over the â‚¬75k max limit!

bri007 wrote:

Just met with DCC about applying for the rebuilding ireland mortgage.

Surely your employer can "help" when completing your salary cert? It's 1k!!! Take a pay cut even

Or do I just work for someone dodgy??!!

bri007 · 31-05-2018 11:50am

I am not in permanent employment, I am in continuous approaching a year but banks want 2 years minimum because I went back to college and haven't worked before 2017 due to being studying. I have been working since last august, any the sector I am in has plenty of work.

My girlfriend has been working continuously and has been made permanent, but has a 12 month probation period.

So basically this rebuild ireland scheme was out only hope, until a few years now!

Pelvis wrote: »

Why won't banks look at you?

bri007 · 31-05-2018 1:43pm

My employer would no problem out a lower salary down if I ask, but would the current 4 payslips not show more of an income that's on the salary cert

stryker mcqueen wrote: »

Surely your employer can "help" when completing your salary cert? It's 1k!!! Take a pay cut even

Or do I just work for someone dodgy??!!

SNNUS · 31-05-2018 2:26pm

bri007 wrote: »

My employer would no problem out a lower salary down if I ask, but would the current 4 payslips not show more of an income that's on the salary cert

Yep there is no way around it.

rachieqtpie · 31-05-2018 2:39pm

metricspaces wrote: »

Yes, I have read that people have left out the property price. Nonetheless, is there anyone here who got approved and did put the property price down on the form? Did you ask for the max loan as per calculator on website? Were you offered the amount you asked for or lower?

We put up to maximum of 288,00 and they offered us 270. We didn’t need it all but have to take mpi into consideration. It’s an extra €120 per month

metricspaces · 31-05-2018 11:07pm

rachieqtpie wrote: »

We put up to maximum of 288,00 and they offered us 270. We didn’t need it all but have to take mpi into consideration. It’s an extra €120 per month

Thanks. And did you put the price of the property on your form?

Could they see from your bank statements that you had sufficient funds to cover purchase price with them giving you 270?

rachieqtpie · 31-05-2018 11:20pm

metricspaces wrote: »

Thanks. And did you put the price of the property on your form?

Could they see from your bank statements that you had sufficient funds to cover purchase price with them giving you 270?

No we didn’t put price on form as we hadn’t got property when applying for loan. When they offered us loan they asked for details of property to make loan offer letter. On that the mortgage is price of property minus 10% deposit

We didn’t have a purchase price per se as we weren’t property specific

metricspaces · 31-05-2018 11:43pm

Thanks. I'm just curious if you put down the price of the property and request the max mortgage they allow based on calculator would they still come back with a lower amount if they don't want to give you full amount. Especially if the numbers show you need the max mortgage to fund the property.

E.g.
House price = 250k
Savings = 50k
Max mortgage = 200k

If they won't approve you for 200k would they offer less, e.g. 180k, even though they see you don't have funds to bridge the 20k gap?

Ailbag · 01-06-2018 7:28am

metricspaces wrote: »

Thanks. I'm just curious if you put down the price of the property and request the max mortgage they allow based on calculator would they still come back with a lower amount if they don't want to give you full amount. Especially if the numbers show you need the max mortgage to fund the property.

E.g.
House price = 250k
Savings = 50k
Max mortgage = 200k

If they won't approve you for 200k would they offer less, e.g. 180k, even though they see you don't have funds to bridge the 20k gap?

They will only give you what you already have 10% of...

metricspaces · 06-06-2018 11:08am

I was in Fingal CoCo this week and they are saying 10-12 weeks to get a reply!
Has anyone applied recently in Fingal and gotten a reply back? How many weeks were you waiting?

voodosheeb · 06-06-2018 11:35am

metricspaces wrote: »

I was in Fingal CoCo this week and they are saying 10-12 weeks to get a reply!
Has anyone applied recently in Fingal and gotten a reply back? How many weeks were you waiting?

I've gone through a different CC and its been 9 weeks so far, Id say the time frame would be the same for every county/district as they all send it to the same place. I cant imagine they would priorities one county over another

metricspaces · 06-06-2018 12:03pm

voodosheeb wrote: »

I've gone through a different CC and its been 9 weeks so far, Id say the time frame would be the same for every county/district as they all send it to the same place. I cant imagine they would priorities one county over another

Thanks! I guess they must have a limited number of people working on processing the applications. The underwriting department that the applications are being sent off to, I assume this is not a government department? Is it an Irish bank?

Darkglasses · 06-06-2018 12:09pm

metricspaces wrote: »

Thanks! I guess they must have a limited number of people working on processing the applications. The underwriting department that the applications are being sent off to, I assume this is not a government department? Is it an Irish bank?

It's the Housing Agency, which is a government agency.

To the best of my knowledge, all decisions go through the following process - applications are first checked for eligibility by the County Councils, then send to the HA who return a recommendation to the County Councils, then the final decision is made by the credit committee of the County Council.

robbo25 · 08-06-2018 10:22pm

Hi, has anyone that was approved drawn down the loan yet? We just got approved and just wondering how the next stage will be. Starting our house hunt tomorrow :-)

Government Funds Local Authority Housing Scheme

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