Rebuilding Ireland home loan

kbman · 24-11-2020 6:37pm

Thanks for replies guys.

I'll get on to our solicitor now and update them to start the request and we'll see how everything goes, cheers.
Credit committee should be a formality, more of a checkbox i'd imagine.
as the last statement they saw from me was September, so not that long ago.

Cheeers

Jafin wrote: »

I don't want to put the frighteners on anyone, and it's very possible that it's different for every LA, but when I was sale agreed my LA did tell me that they needed all the documents in by the end of November if I had any hope of drawing down before Christmas because they have some kind of end of year report to do, and that's the deadline. I was told that if I didn't have everything in by then that it would likely be March 2021 before I could proceed, or February at the very earliest. It's all moot now anyway as the sale fell through, but I would check these things with your LA if you can. Like I said though, it's very possible these time frames are different for each LA, and just because gave me those timeframes doesn't mean it's the same for yours.

Scr88 · 24-11-2020 10:38pm

Hi everyone, How long does it take for loan to be issued once sent to finance. I submitted final documents today that I received from vendors solicitors, it is a new build. They are sending documents to finance tomorrow. Its a confusing process and I'm not getting answers from any side. I'm hoping to have all complete by Christmas, is this been too optimistic? Thanks in advance

jonny_b1 · 25-11-2020 2:48pm

Hi all. Anyone here gone the self build journey? I/we are a bit lost as to what paperwork is needed for a direct labour build.

Anyone got any experience with this? PM if you'd prefer thanks

Scr88 · 26-11-2020 1:31pm

Update. I submitted final documents on Wednesday and just received an email to say council issuing cheque to their solicitor tomorrow

Jafin · 26-11-2020 2:02pm

Nice, congratulations!

Hudur · 27-11-2020 11:53am

Is it possible to get extension or is it always just 6-months after approval?

Lockdown now and one month had passed already before the letter finally arrived, so it doesn't leave too much time.

Financesetc. · 27-11-2020 12:08pm

Hudur wrote: »

Is it possible to get extension or is it always just 6-months after approval?

Lockdown now and one month had passed already before the letter finally arrived, so it doesn't leave too much time.

Do you need to get a form stamped by revenue when applying. Anyone know when they are open again?

noler123 · 27-11-2020 3:11pm

Hi folks. Just wondering can the help to buy be used as part of your deposit. So say i have 80% of the deposit saved can i say i am going to claim the help to buy to make up the other 20% (which i have checked on revenue and would be entitiled to) even though i'm not sure if i'll be buying a new house or not?

jonny_b1 · 27-11-2020 5:29pm

Hudur wrote: »

Is it possible to get extension or is it always just 6-months after approval?

Lockdown now and one month had passed already before the letter finally arrived, so it doesn't leave too much time.

Yes,we got it for first lockdown. Ask your council

BKWDR · 27-11-2020 5:57pm

Financesetc. wrote: »

Do you need to get a form stamped by revenue when applying. Anyone know when they are open again?

Council check it for you. Just give them permission to do it

noler123 wrote: »

Hi folks. Just wondering can the help to buy be used as part of your deposit. So say i have 80% of the deposit saved can i say i am going to claim the help to buy to make up the other 20% (which i have checked on revenue and would be entitiled to) even though i'm not sure if i'll be buying a new house or not?

HTB only works on new builds, not second hand. Also the builder has to be HTB approved. Apply on revenue.

ABCD_1234 · 27-11-2020 6:01pm

Hi all,

This might be a stupid question but do RIHL allow you to buy a house directly from the seller without the intervention of an EA?

BKWDR · 27-11-2020 8:13pm

ABCD_1234 wrote: »

Hi all,

This might be a stupid question but do RIHL allow you to buy a house directly from the seller without the intervention of an EA?

Why not sure

You'll need a solicitor though

jonny_b1 · 27-11-2020 9:03pm

ABCD_1234 wrote: »

Hi all,

This might be a stupid question but do RIHL allow you to buy a house directly from the seller without the intervention of an EA?

Absolutely, everything goes through the solicitor. EA get paid for taking pictures and feeding you BS

Financesetc. · 27-11-2020 10:31pm

Guys please. Has anyone applied for the the mortgage allowance scheme and got it???

Lauren52 · 29-11-2020 10:47pm

Hi All,

We got approval 2 weeks ago, we have found a potential house, however it is not ready till possibly June.

Would it be likely it would be ok even though it would be over the 6mts.

Also , it's a new build so if we were to go for it and contracts would need to be signed in 21 days in order to receive your extras, would we be signing it and paying the 10% even before council has approved the valuation.

Also with the help to buy would we need to apply now or January ? Is it needed for the signing of the contracts or is it needed for the drawdown stage?

TIA

Sherif callie · 29-11-2020 11:33pm

Scr88 wrote: »

Update. I submitted final documents on Wednesday and just received an email to say council issuing cheque to their solicitor tomorrow

Hi, congratulations.

May i ask? Who is the mpi with and where do i get the forms? I am a couple of weeks away from house being ready. Dcc is my LA.
Tia

AdmiringWig · 30-11-2020 11:11am

Finally got our keys! Sale agreed since July but we got there! DCC were very helpful the whole way through and the delays we're not on their end.

Does anyone know when the first mortgage payment is? Is it a month after drawdown?

Thanks a mill!

Lisad10 · 30-11-2020 5:20pm

I'm due to draw down on Friday with SDCC. My solicitor has said that if the funds are in his account early then I will close on Friday if not it will be Monday when I close and get the keys. Has anyone drawn down with SDCC and would know what time the funds go into the account?

TaDa · 02-12-2020 12:42am

Has anyone been able to draw down while on the EWSS scheme? Hearing so many mixed stories on it all.

I have yet to be asked for a letter from my employer. Is it a definite that this will be asked for? If so, is it possible to proceed with draw down when an employer on EWSS provides a letter stating the applicant is in receipt but in a stable position (Not sure how it can be called stable if on a subsidy scheme however)

Crazy to think it could be 2nd quarter of next year at the earliest before I am eligible.

H8GHOTI · 02-12-2020 12:47pm

Anyone know which solicitor Cork City Council use?

Loan is with them now apparently but haven’t heard anything from them and it’s been weeks. Staff in the council department gone quiet too. Would like my solicitor to contact their solicitor directly & see what’s going on.

Lauren52 · 02-12-2020 10:22pm

Hi All,

Can anyone in the Kildare area recommend a solicitor familiar with RI (or does it really matter) we are looking now and prices are vary...

Also can anyone tell me the average price for a new build with solicitor so far we are getting quotes between 5500 - 7000 we had budgeted between 4000-5000

TIA

Lauren52 · 02-12-2020 10:24pm

TaDa wrote: »

Has anyone been able to draw down while on the EWSS scheme? Hearing so many mixed stories on it all.

I have yet to be asked for a letter from my employer. Is it a definite that this will be asked for? If so, is it possible to proceed with draw down when an employer on EWSS provides a letter stating the applicant is in receipt but in a stable position (Not sure how it can be called stable if on a subsidy scheme however)

Crazy to think it could be 2nd quarter of next year at the earliest before I am eligible.

I have read and been told by KCC that You have to be 3mts off any covid payment - but also read it is based on a case by case basis.

I have just come off payment (hopefully wont go back on between now and drawdown) I am 2nd applicant so hoping that helps our case.

Lauren52 · 02-12-2020 10:26pm

Hudur wrote: »

Is it possible to get extension or is it always just 6-months after approval?

Lockdown now and one month had passed already before the letter finally arrived, so it doesn't leave too much time.

I asked this this week with KCC (we are going for new build might not be ready by end of 6mts) once all forms are in and contract signed etc it goes back to credit commitee with updated payslips , savings records etc and then it should be fine to get extension.

Dankarl · 02-12-2020 11:14pm

H8GHOTI wrote: »

Anyone know which solicitor Cork City Council use?

Loan is with them now apparently but haven’t heard anything from them and it’s been weeks. Staff in the council department gone quiet too. Would like my solicitor to contact their solicitor directly & see what’s going on.

Hi,

We went with Cork County Council and they used their own solicitors dept. Does city hall have a solicitor dept?

H8GHOTI · 03-12-2020 12:23am

Dankarl wrote: »

Hi,

We went with Cork County Council and they used their own solicitors dept. Does city hall have a solicitor dept?

Hi. Ya could well be in-house. Either way, can’t get contact details for them & the staff in RIHL department keep repeating the same thing.

BKWDR · 03-12-2020 8:26am

H8GHOTI wrote: »

Hi. Ya could well be in-house. Either way, can’t get contact details for them & the staff in RIHL department keep repeating the same thing.

That's across the board. Once it's been sent to the solicitor, that's who deals with it.
If you want an update you have to go via your own solicitor. That's why you pay them

H8GHOTI · 03-12-2020 11:09am

BKWDR wrote: »

That's across the board. Once it's been sent to the solicitor, that's who deals with it.
If you want an update you have to go via your own solicitor. That's why you pay them

I already said the reason I’m looking for the information is so my solicitor can contact them. Their solicitor has never been in contact so my own solicitor can’t give me an update. They are also working on it, trying to find out who is dealing with it.

BKWDR · 03-12-2020 11:13am

H8GHOTI wrote: »

I already said the reason I’m looking for the information is so my solicitor can contact them. Their solicitor has never been in contact so my own solicitor can’t give me an update. They are also working on it, trying to find out who is dealing with it.

The Council's solicitor will have the details of your nominated solicitor and send out the mortgage pack to them. Id say the staff dont give out contact details of the solicitors as they are a buffer for them. Maybe just ask them to check to see if the mortgage pack has been issued yet to your solicitor and say your solicitor is asking you.

jill_valentine · 03-12-2020 10:23pm

So, as some folks might remember I have AIP from Dublin City Council. There's nothing in my bracket at the moment, so it looks like it'll be well after Christmas (and possibly an extension) before anything comes into view.

In the meantime, I've submitted an application for both South Dublin County Council and Fingal County Council via post on Tuesday, 01/12/20. I'll come back to document dates etc here as I did before to give people an idea of the different stages, but it'll probably be a lot less usefully indicative of anything because the cycle will include Christmas this time.

All the best to folks here at any stage in the process.

extrafluff · 07-12-2020 10:09am

An update on our applications.
I rang DCC on Friday to enquire about ours & they said we've been approved

The amount is pretty close to what was shown on the calculator. We're delighted. We applied towards the end of September. Took a little over 9 weeks.

We're still waiting to hear back from SDCC. Since June.

John Hutton · 07-12-2020 12:09pm

extrafluff wrote: »

An update on our applications.
I rang DCC on Friday to enquire about ours & they said we've been approved The amount is pretty close to what was shown on the calculator. We're delighted. We applied towards the end of September. Took a little over 9 weeks.

We're still waiting to hear back from SDCC. Since June.

Congrats!

Can I ask what evidence of insufficient finance offers from banks did you have to supply?

extrafluff · 07-12-2020 12:15pm

John Hutton wrote: »

Congrats!

Can I ask what evidence of insufficient finance offers from banks did you have to supply?

Thank you!

With DCC, screenshots from 2 online calculators were fine but with SDCC they needed letters of offers. We applied with Ulster Bank & AIB as they were able to give us AIP that day.
Best of luck with yours!

John Hutton · 07-12-2020 12:26pm

extrafluff wrote: »

Thank you!

With DCC, screenshots from 2 online calculators were fine but with SDCC they needed letters of offers. We applied with Ulster Bank & AIB as they were able to give us AIP that day.
Best of luck with yours!

Thanks, I've heard that a few times now, that some people are happy with screenshots and others need the offer letters.

I'll be doing mine next year so I think I'll just try the screenshots first and see how it goes! I'll be applying to Louth and Meath

Jafin · 07-12-2020 12:43pm

John Hutton wrote: »

Thanks, I've heard that a few times now, that some people are happy with screenshots and others need the offer letters.

I'll be doing mine next year so I think I'll just try the screenshots first and see how it goes! I'll be applying to Louth and Meath

Just ring them up first and ask. It'll save you a lot of time and hassle.

John Hutton · 07-12-2020 1:58pm

Jafin wrote: »

Just ring them up first and ask. It'll save you a lot of time and hassle.

Tried that, they both said basically send it in and see, and that they couldnt confirm before looking at it.

Jafin · 07-12-2020 2:14pm

John Hutton wrote: »

Tried that, they both said basically send it in and see, and that they couldnt confirm before looking at it.

Oh wow, ok, that's weird. That being said I did check with my council if a print out from an online calculator would be fine before I submitted my application and they said yes. When I submitted it they said they don't take online calculator results, so even if they had told you yes they could still have changed their minds. Safest route is to go to two banks anyway and get the letters if you can, but if you're not fussed about possibly having to wait an extra few weeks if they don't take the calculator printouts then you could always just go ahead with them and see what happens.

Jennyod31 · 07-12-2020 10:41pm

Anyone just back to work after lockdown.. I was told to submit one payslip that application ya perfect other than that

mtoutlemonde · 07-12-2020 11:29pm

Hi folks, I have asked this before but didn't get a response. I applied 8 weeks ago to my Council. I don't know what the result will be but I have a worry - do they check the size of your house before giving you mortgage? My house may be too big but is in line with neighbouring houses which made planning easier. As an aside, is it easy to reduce the size of your house plans i.e. do I need another planning application?

Proporridge · 08-12-2020 5:52am

Hi I’ve just got approved in prinipal for the amount I asked for. I now have to submit a sales brochure for the house i am purchasing to prove it is on the open market (I currently rent the property and buying it off my landlord), confirmation from the vendor of the sales agreed price, a bank statement showing I have the funds to pay for the difference between the amount approved the sales agreed price from a non borrowed source and an independent valuation of the property. My question is how long does it take to get the formal loan offer after you submit these things or what is the process from here?

Note I applied with Donegal CC and it’s taken me from the middle of July to get this far and apparently my application has moved faster then normal ðŸ™ˆ

BKWDR · 08-12-2020 10:26am

mtoutlemonde wrote: »

Hi folks, I have asked this before but didn't get a response. I applied 8 weeks ago to my Council. I don't know what the result will be but I have a worry - do they check the size of your house before giving you mortgage? My house may be too big but is in line with neighbouring houses which made planning easier. As an aside, is it easy to reduce the size of your house plans i.e. do I need another planning application?

How much is it over 175sqm?
regardless of the neighbours houses, (they wont check that) if its over its over and you will be running a gauntlet , it will be a gamble.

I would imagine to change the aspect or design of a house would require planning permission , but ring your LA

delkel38 · 08-12-2020 1:07pm

Those of you who have managed to get the full amount, are you happy with the repayments?
Just wondering would it be possible to switch mortgage in the future to a traditional bank or are we getting a good deal with the council. The mpi is the main issue for me as its extortion. Now it will reduce annually.

jwix · 09-12-2020 12:13pm

Hi all,
I've seen a lot of posts on here regarding people applying for RIHL scheme, for single it joint applications, but has anyone who is divorced applied for this scheme, and if so have you been successfull. I'm divorced and looking to buy a house, but have been told not to even bother applying, by Clare co co because of a ridiculous clause which effectively says that if you are divorced you cannot have made anything from your home, you can't have sold it to your ex spouse,, you must essentially walk away and leave the home to your ex spouse, that's if your bank will allow you do this. I got a letter from the minister for housings secretary basically saying if I didn't give my house to my ex then I can't apply , even if you have a job, pension , divorce agreement all that crap
The scheme is a joke,

phobia2011 · 09-12-2020 12:39pm

Funds released, contracts sent to solicitor, once I’m at this stage, do I need to provide any more documentation?

BKWDR · 09-12-2020 1:32pm

jwix wrote: »

Hi all,
I've seen a lot of posts on here regarding people applying for RIHL scheme, for single it joint applications, but has anyone who is divorced applied for this scheme, and if so have you been successfull. I'm divorced and looking to buy a house, but have been told not to even bother applying, by Clare co co because of a ridiculous clause which effectively says that if you are divorced you cannot have made anything from your home, you can't have sold it to your ex spouse,, you must essentially walk away and leave the home to your ex spouse, that's if your bank will allow you do this. I got a letter from the minister for housings secretary basically saying if I didn't give my house to my ex then I can't apply , even if you have a job, pension , divorce agreement all that crap
The scheme is a joke,

That's not exclusive to this scheme, that's with any bank or building society too.
This scheme is for first time buyers.
If you have bought a house before and still have an interest in that property,you're not a first time buyer. The interest is the money you have from selling an interests. That's not the scheme. That's the law and how first time buyers are defined

Graham · 09-12-2020 2:19pm

jwix wrote: »

I'm divorced and looking to buy a house, but have been told not to even bother applying, by Clare co co because of a ridiculous clause which effectively says that if you are divorced you cannot have made anything from your home, you can't have sold it to your ex spouse,, you must essentially walk away and leave the home to your ex spouse, that's if your bank will allow you do this.

There are specific rules around treating separated/divorced individuals as first time buyers for RHIL purposes.

applicants who are separated or divorced may be treated as first-time buyers, in accordance with the regulations, if they meet certain conditions as set out in Section 92B of the 1999 Act, including that:
they are legally separated or divorced under a court order or by a separation agreement or have been granted an annulment by a court;

the property being purchased is the first property since leaving the family home;

they have left the family home and retain no interest in it;

they have made no financial gain from the transfer of the ownership of the family home; and

the other party has remained in the family home

Source: written answer to a parliamentary question asked of the Minister for Housing, Planning, and Local Government.

jwix · 09-12-2020 3:03pm

The rules say that to be considered a first time buyer( in relation to people who are divorced) you cannot retain an interest in the property, and that the other party . ie your ex wife/husband remains in the property. This effectively means that you have to transfer your share of the property to your ex, and not have received anything, which is fine except that if you property is mortgaged you cannot release your interest in it unless the bank agrees to allow transfer of ownership to the other party, and they dont, because if one defaults the other is made pay, and believe me ive tried.
if you know anyone who is thinking of getting divorced, tell them to think again and if they still want to get divorced tell them to really think again. Financially your worse off, and mentally and physically your drained, to the point of exhaustion, because the system is a shambles.

kavo89 · 09-12-2020 7:47pm

sorry if the answer has already been given. Will be applying for the loan in the new year and sending in my application. Reviewing the application paperwork it says to provide the house address etc. However, if you have no house in mind and just looking for approval, what do you need to provide there? any help or advice be appreciated.

optogirl · 09-12-2020 7:59pm

kavo89 wrote: »

sorry if the answer has already been given. Will be applying for the loan in the new year and sending in my application. Reviewing the application paperwork it says to provide the house address etc. However, if you have no house in mind and just looking for approval, what do you need to provide there? any help or advice be appreciated.

Leave it blank. We did that with DCC, was no issue

kbman · 09-12-2020 8:29pm

kavo89 wrote: »

sorry if the answer has already been given. Will be applying for the loan in the new year and sending in my application. Reviewing the application paperwork it says to provide the house address etc. However, if you have no house in mind and just looking for approval, what do you need to provide there? any help or advice be appreciated.

Realistically with the time frames for approval, many properties would be off the market by the time the offer comes through from the council, we also left it blank.

Best of luck

jill_valentine · 10-12-2020 2:52pm

jill_valentine wrote: »

So, as some folks might remember I have AIP from Dublin City Council. There's nothing in my bracket at the moment, so it looks like it'll be well after Christmas (and possibly an extension) before anything comes into view.

In the meantime, I've submitted an application for both South Dublin County Council and Fingal County Council via post on Tuesday, 01/12/20. I'll come back to document dates etc here as I did before to give people an idea of the different stages, but it'll probably be a lot less usefully indicative of anything because the cycle will include Christmas this time.

All the best to folks here at any stage in the process.

Fingal County Council called me today, 10/12/20, to say all was okay with my application and it's heading off to the Underwriters. I don't expect to hear back re Approval etc until Feb/March.

I will warn, Fingal's expected offer is about 8k lower than DCC's.

Rebuilding Ireland home loan

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