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Rebuilding Ireland home loan

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Comments

  • #332
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    DUB924 wrote: »
    DCC.. still waiting on the letter to arrive we rang and looks like its going to be another 3 month wait for us..


    3 months to hear back from credit commitee?:eek:


  • #333
    DUB924
    Registered Users Posts: 16 ✭DUB924


    autumnbelle wrote: »
    3 months to hear back from credit commitee?:eek:

    They want us to show we can save the mortgage amount over 3 months before they will approve us which is what I thought was in our accounts. does anyone know does this savings have to be in the 1 joint account or can it be across both applicant accounts??


  • #334
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    DUB924 wrote: »
    They want us to show we can save the mortgage amount over 3 months before they will approve us which is what I thought was in our accounts. does anyone know does this savings have to be in the 1 joint account or can it be across both applicant accounts??


    Have you been paying rent from your bank? Ours is over both applicants


  • #335
    SNNUS
    Registered Users Posts: 745 ✭✭✭SNNUS


    Dve28 wrote: »
    Soo strange, I've paid my booking deposit three weeks ago and everytime I call it some different person, always get different answers, but they mention they have to arranged their inspection.

    I do have my solicitor and he is also pushing Council for an update, but he told me to better no push with the contracts until we have an answer from Council. I did survey report and valuation of the property, I sent both of them, a letter from agency and a letter with solicitor details.

    Is the draft loan documents same as the Notification of provisional loan approval?

    MPI I have it at home but it says to dont send it to council until they let me know. Also any recommendation for home insurance?

    The draft documents are about 10 pages of terms etc that will be sent to you and official ones to your solicitor one month later. If you provided them with a valuation report I do not know why they need an inspection but as witnessed here the councils seem to differ a lot.

    Allianz were the best quote that I got for home insurance .


  • #336
    DUB924
    Registered Users Posts: 16 ✭DUB924


    autumnbelle wrote: »
    Have you been paying rent from your bank? Ours is over both applicants

    No we are both back living with parents at the minute. Tried to call this morning it looks like it can be across both applicants accounts so will have to see what they say as we have got the required amount every month. Will have to see if not it will be another 3 months of savings for us.


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  • #337
    Dve28
    Registered Users Posts: 6 ✭Dve28


    SNNUS wrote: »
    The draft documents are about 10 pages of terms etc that will be sent to you and official ones to your solicitor one month later. If you provided them with a valuation report I do not know why they need an inspection but as witnessed here the councils seem to differ a lot.

    Allianz were the best quote that I got for home insurance .

    Ok, I havn't get the draft documents. It's what I was thinking, why they asked me to do an inspection/valuation when they will perform another one? :S I just called them again few minutes ago but they told me the same!! So I guess they will send me draft documents once the inspection is done.


  • #338
    Pussyhands
    Registered Users Posts: 8,239 ✭✭✭Pussyhands


    Is there an end date for this scheme?


  • #339
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    DUB924 wrote: »
    No we are both back living with parents at the minute. Tried to call this morning it looks like it can be across both applicants accounts so will have to see what they say as we have got the required amount every month. Will have to see if not it will be another 3 months of savings for us.


    Thats so strange. Have you the six months showing the savings or maybe they look for 12


  • #340
    SNNUS
    Registered Users Posts: 745 ✭✭✭SNNUS


    Pussyhands wrote: »
    Is there an end date for this scheme?

    No end date


  • #341
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    SNNUS wrote: »
    No end date


    SNNUS had you to pay council solicitors?


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  • #342
    SNNUS
    Registered Users Posts: 745 ✭✭✭SNNUS


    autumnbelle wrote: »
    SNNUS had you to pay council solicitors?

    I have not been advised that I need to...


  • #343
    Sukie
    Registered Users Posts: 9 ✭Sukie


    Submitted our application last month and today my partner was told he will be getting a pay rise. I'm worried this will affect our application. Does anyone know if you need to re-submit payslips etc before closing?


  • #344
    Sukie
    Registered Users Posts: 9 ✭Sukie


    After a long rigmarole with brokers and banks (starting last November) we applied to south Dublin coco last month and they've told us we'll have an answer by the end of August.
    Today my partner was told he's getting a pay rise.. Great news! but I'm worried this will affect our application as it might push us over the threshold.

    Has anyone else experienced this?
    Does anyone know if payslips need to be resubmitted at any time?

    Thanks


  • #345
    surrender monkey
    Registered Users Posts: 229 ✭✭surrender monkey


    Yes pay slips and bank statements have to be re submitted in the final stages. I'd ask for a hold on that pay rise if I were you.


  • #346
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    surrender monkey wrote: »
    Yes pay slips and bank statements have to be re submitted in the final stages. I'd ask for a hold on that pay rise if I were you.
    Resubmitted before drawdown is it?


  • #347
    surrender monkey
    Registered Users Posts: 229 ✭✭surrender monkey


    Up dated information will be requested before drawdown


  • #348
    SNNUS
    Registered Users Posts: 745 ✭✭✭SNNUS


    surrender monkey wrote: »
    Up dated information will be requested before drawdown

    I did not have to provide any updated payslips etc..


  • #349
    raheny red
    Registered Users Posts: 2,562 ✭✭✭raheny red


    With DCC I'll have to resubmit before drawdown.


  • #350
    surrender monkey
    Registered Users Posts: 229 ✭✭surrender monkey


    SNNUS wrote: »
    surrender monkey wrote: »
    Up dated information will be requested before drawdown

    I did not have to provide any updated payslips etc..

    Have you completed yet? It's evident from this thread that different councils have different methods. It would be usual enough to have to submit updated pay slips and bank statements before drawdown. An eagle eyed staff member could notice a new loan or reduced earnings , just don't borrow money, keep saving and keep your wages the same certainly don't suddenly start earning over the thresholds cos if you do you may not qualify for the scheme.


  • #351
    Sukie
    Registered Users Posts: 9 ✭Sukie


    SNNUS wrote: »
    I did not have to provide any updated payslips etc..

    What council did you apply to?

    This pay rise will put us over the limit (just about), it's already processed so it should show up in his next month pay slip.


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  • #352
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    Does anyone who has drawn down know- one of the requirements is to show the balance of the funds in your account, we are using the help to buy scheme we dont have this in our account, is it enough to show the balance and then the print off of the help to buy amount


  • #353
    Lee3b
    Registered Users Posts: 42 ✭Lee3b


    Hi I'm back after all the information thank you . So I put all my documents into the council 2 days ago and my stomach has been sick ever since ... I'm terrified . There are new builds going up in our area and we are hoping for one of them... absolutely petrified


  • #354
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    Also it stated in our letter of offer that we will be liable for councils legal fees, does anyone have ball park figure of what this will cost or when it has to be paid


  • #355
    SNNUS
    Registered Users Posts: 745 ✭✭✭SNNUS


    autumnbelle wrote: »
    Does anyone who has drawn down know- one of the requirements is to show the balance of the funds in your account, we are using the help to buy scheme we dont have this in our account, is it enough to show the balance and then the print off of the help to buy amount

    Show the balance to who? The drawdown goes to your solicitor who pass on the funds once completed to sellers solicitor.


  • #356
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    SNNUS wrote: »
    Show the balance to who? The drawdown goes to your solicitor who pass on the funds once completed to sellers solicitor.

    On our letter of approval in principal it asks for the documentation to show the full amount of the balance of remaining funds in our accounts, to the council


  • #357
    redmond08
    Registered Users Posts: 159 ✭✭redmond08


    So after nearly 16 weeks I finally got word back on Friday and we got approved the €288000. I'm so delighted, me and my partner have a booking deposit on a new house already, but it won't be ready till late December. Just waiting for the letter in the post, so what's the next stage?


  • #358
    Laney835
    Registered Users Posts: 9 ✭Laney835


    How long did you wait to hear an answer of if you received the loan after the application went back to your county council. Our Coco received our application back from underwriters a week ago.... How much longer before i hear anything else?


  • #359
    SNNUS
    Registered Users Posts: 745 ✭✭✭SNNUS


    redmond08 wrote: »
    So after nearly 16 weeks I finally got word back on Friday and we got approved the €288000. I'm so delighted, me and my partner have a booking deposit on a new house already, but it won't be ready till late December. Just waiting for the letter in the post, so what's the next stage?

    Finally ! Congratulations , they made you sweat it!

    Next stage is the approval letter , you accept that in writing. Give them the details of the house you have the deposit on and advise them of your solicitor.

    You then get draft loan documents sent to you and they will be sent to your solicitor one month later. You have lots of time with your house so none of this will delay you.

    Sort out your Help to buy application with revenue and start shopping for bits and bobs!

    Drawdown the funds before the 6 months expire but should not be an issue.

    Ask if you can get your own MPI in place and house insurance closer to the time 😊


  • #360
    redmond08
    Registered Users Posts: 159 ✭✭redmond08


    SNNUS wrote: »
    Finally ! Congratulations , they made you sweat it!

    Next stage is the approval letter , you accept that in writing. Give them the details of the house you have the deposit on and advise them of your solicitor.

    You then get draft loan documents sent to you and they will be sent to your solicitor one month later. You have lots of time with your house so none of this will delay you.

    Sort out your Help to buy application with revenue and start shopping for bits and bobs!

    Drawdown the funds before the 6 months expire but should not be an issue.

    Ask if you can get your own MPI in place and house insurance closer to the time 😊

    Yeah I have my code ready for my HTB. So when I get the letter for my approval, I upload that and signed contracts to revenue.ie, or is another letter the council send out that I upload?


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  • #361
    redmond08
    Registered Users Posts: 159 ✭✭redmond08


    Laney835 wrote: »
    How long did you wait to hear an answer of if you received the loan after the application went back to your county council. Our Coco received our application back from underwriters a week ago.... How much longer before i hear anything else?

    We rang on Friday morning and he said that he had a meeting with the credit committee about our application that morning and would ring us in the evening. 4 hours later he rang us and said we got approved. If you reach the credit committee then that's a very good sign that the underwriters/housing agency were happy with your application!


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