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02-11-2018, 14:20   #826
Sam2904
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Originally Posted by Jellapino15 View Post
Similar issue here, CC won't send anything on their side till house is built and solicitor doesn't think builders will accept just the AIP letter as no guarantee of extension and house will take up to 10 months. Sick with the nerves over it all

We have the same issue with a new build, was told we would have submit new application to get another 6 months. Dont see why stage payments cant be made to builder.
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03-11-2018, 11:50   #827
Jellapino15
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We have the same issue with a new build, was told we would have submit new application to get another 6 months. Dont see why stage payments cant be made to builder.
Do you mind me asking what ye decided to do? Did ye go ahead and sign contracts with clause subject to funds and reapply then?

I'd just be happier if I could secure house with current letter of offer, worried now I'll lose it because council won't send loan pack.
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08-11-2018, 08:00   #828
DUB924
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Just wondering did anyone share their Structural survey with the Estate Agent?
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08-11-2018, 12:41   #829
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Hi, I'm looking to build a house in leitrim hopefully, but I'm from roscommon. Could I go to leitrim co co for one of these loans, thanks.
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08-11-2018, 14:14   #830
Darkglasses
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Originally Posted by Househunter16 View Post
Hi, I'm looking to build a house in leitrim hopefully, but I'm from roscommon. Could I go to leitrim co co for one of these loans, thanks.
You must apply to the county council in which you will be building/buying the property. So if you are building in Leitrim, you should be applying to Leitrim Co Co.
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08-11-2018, 20:10   #831
Jellapino15
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Hi Guys,

Just wondering should I appeal the refusal for this scheme, they have just issued me with the following reasons on why I was refused -

- Repayment Capacity Not Demonstrated - (Passed both AIB and BOI capacity with no bother at all, between savings and household contribution I set aside €700 every single month)

- Unsatisfactory Savings Record/Source of Equity - (I had €25,000 saved at time of application and now have €30,000, how can they not class this as a savings record?)

Very down about being totally refused .. is it worth appealing?

Thanks in advance.
Of the 30k you have in savings has it been a regular amount each month over a period of time? I think this may be something they look at. So while you have great savings they need to see can you sustain it over time? I know that's what a bank told a friend before, she had to go back nearly a year later to show she could as before it had been sporadic amounts going in.

Also the repayment capacity could be to do with your net income and the amount you applied for. The repayment plus the mortgage protection insurance needs to not be over 1/3 of your net income. I was initially refused because I had applied for the amount the online calculator told me but it doesn't factor in the mpi or your net so it's too high. I ended up appealing after ringing and the council person told me send appeal letter and ask for the maximum amount allowed. Could you try this? Phone them first and see.
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08-11-2018, 20:12   #832
Wheeliebin30
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If your salary changes does your repayments change?
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08-11-2018, 22:46   #833
Darkglasses
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If your salary changes does your repayments change?
No, it's a normal mortgage.
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09-11-2018, 10:54   #834
Wheeliebin30
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And interest stays the same?

Is it 1.5%?
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09-11-2018, 12:35   #835
AlmightyCushion
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And interest stays the same?

Is it 1.5%?
This information is available on the website.

http://rebuildingirelandhomeloan.ie/interestrates/

Quote:
A Rebuilding Ireland Home Loan offers three rate products:

2% fixed for up to 25 years (APR 2.02%)*
2.25% fixed for up to 30 years (APR 2.27%)*
2.30% variable (subject to fluctuation) for up to 30 years (APR 2.32%)*
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09-11-2018, 21:48   #836
Darkglasses
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And interest stays the same?

Is it 1.5%?
Yes, interest has nothing to do with your income. It will either be fixed for the whole lifetime of the mortgage, or you can choose a variable interest rate. Interest rates are dictated by the market, nothing to do with the individual customer.
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10-11-2018, 19:53   #837
Wheeliebin30
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Wow they are some unbelievably low rates.

Especially for life.
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11-11-2018, 19:38   #838
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Hi all,
Did anyone else who has completed purchase of a property get charged an extra €1000 on top of solicitors fees to "complete after drawdown of mortgage". This had not been previously mentioned to us by our solicitor.
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11-11-2018, 20:30   #839
ad1234
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Hi all,
Did anyone else who has completed purchase of a property get charged an extra €1000 on top of solicitors fees to "complete after drawdown of mortgage". This had not been previously mentioned to us by our solicitor.
What council are you with, did they charge it? Or was this from your own solicitor who charged this?
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11-11-2018, 21:07   #840
Huntline
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What council are you with, did they charge it? Or was this from your own solicitor who charged this?
It was from our solicitor.
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