Rebuilding Ireland home loan

3283winnie wrote: »

Oh brilliant il give it a few days then email once I know they have it il be a little happier can I ask how long you waited

I waited about 6 months, it’s a long wait but hopefully it will all be worth it. SDCC and Kildare Coco seen to take the longest, you could apply fo a couple of other Dublin CoCo’s while you wait on SDCC just to keep your options open

I know I seen a timeline of how things go on this site but I can’t for the life of me find it. Can anybody link me to it please ? Thanks

thegreatescape wrote: »

I don't have a loan, I bought the car outright with savings. My post is about whether this will affect my chances of being approved.

Why would you wait. Apply. Worst that will happen you’ll get knocked back. And then apply again at a later stage.

Hi there. Am trying to secure loan for house renovation. Am planning on purchasing old house from family at low price but it needs alot of work. Does anyone know if this is possible under this scheme or has anyone had any success going down this road. Banks will not touch me. Single parent working PT with very little options.

Batattackrat wrote: »

Do you need to give a solicitors details and valuator when applying? I was just going to put max allowed for the loan amount as have no property in mind as of yet.

Also one section it asks "Have you ever had a loan or made a previous
application to any other lending agency? If yes please give details"
Do i have to put things like old car loans here. I'm not entirely sure what they need here.

I was told by my council you can put "To be confirmed" for solicitor,valuator details .For the loan amount I was told to put "maximum amount" .
The question regarding previous loan details,I thought they are asking about previous housing loans ? .But correct me I am wrong.

Batattackrat wrote: »

Do you need to give a solicitors details and valuator when applying? I was just going to put max allowed for the loan amount as have no property in mind as of yet.

Also one section it asks "Have you ever had a loan or made a previous
application to any other lending agency? If yes please give details"
Do i have to put things like old car loans here. I'm not entirely sure what they need here.

I recently applied to sdcc and put maximum amount for the loan they sent my pack back out and told me I had to use the online calculator and put a figure in the box some people were ok putting maximum but of course mine was arkward .

Hello All,

I believe that after 5 years you have the option of selling the property that you purchased.

I don't see myself having to do this, however can anyone confirm this and provide a link or say where/what document this fact is stated for reference please?

Many Thanks,
Jim

Does anyone know if they take social welfare into account for income, in particular carers allowance?

Unfortunately they don't take carers allowance into account.

rob316 wrote: »

Does anyone know if they take social welfare into account for income, in particular carers allowance?

pearsebhoy wrote: »

We have a very large deposit sorted anyway, so I don’t see it being an issue without us getting a gift. The issue I do see is they don’t accept carers allowance, which is a long term social welfare payment even though they say it’s not, so we’ll only be going off my salary. I’ve used to calculator on their website and it comes to €132k. That’s using my base salary without overtime. That’s best case scenario as well, which is not enough to purchase a house in our area. Not even close.

Hi all, I have a couple of questions it'd be great to get help with;



First question;

I'm self employed, and was talking to an advisor from PTSB who told me that;

a) they look at 2 years worth of accounts, I had thought banks looked at 3 years.

and

b) If you own 100% of the company, which I do, then they consider the business's annual profit as available salary. This was a brilliant surprise as I did not think this was the case at all.

I pay myself 50k/year so just on the line for the scheme. Do my profits push me beyond that, and if so can I qualify for Rebuilding Ireland at a higher mortgage amount if PTSB are allowing me to use the profits as part of my total earnings? e.g if the profits were 10k and salary 50k, and PTSB will assess my earnings as 60k.


Second question;

At what point is it better to earn more and rule yourself out of the scheme? If I had the opportunity to earn 55k for example, am I better off keeping the salary lower so that I can qualify or should I just go ahead and look at the HTB instead?

Thanks very much

nice1guy wrote: »

I have recently seen a comment in another thread claiming that you have to pay legal fees for the council's solicitor. Does anyone know if this is true, as we are in the final stage of purchasing a house and have not been informed of this by our council?

I read this too and checked with Meath co co and they confirmed I do have to pay for their solicitors fees. I think it depends on the council though.

123VOTF500 wrote: »

Hi Everyone

Just looking for some guidance on our mortgage journey

Myself and my fiancé have a large deposit saved (over 10% roughly) but stupidly only recently decided to open a savings account (the savings are in our current account).

Will we have to have 12 months of savings in our savings account, or would 6 months suffice? I read something about having to have 3% in savings, which would be about 6 months for us.

We will also be gifted a sum of money, kindly. Again I read that gifts can be around 7%. Anyone had any experience of this? I know its best to declare this and have paper work to say it's a gift.

Finally, both myself and my partner work in public sector jobs. He has passed his probation period and is permanent. I have recently accepted a permanent job but will be on probation for a year. I have 2-3 years work experience in the public sector in a temporary capacity but work in a very employable area at present. I imagine this will still be an issue?

Any advice appreciated.

Friend of mine was on a probation for 9 months in a new job, he and his partner applied about 4 months in and he was shot down, as soon as it was over he got approved. I don't think you'll be successful in a probation period.

Hi all,

Just wondering if anyone has tried to draw down or drawn down with Dublin City Council and had issues with EWSS? With the council looking for confirmation that your employer is not on it or anything like that?

We have AIP from DCC but my wife works in childcare and so we're worried about this coming up as a final (crushing) blow if/when we get to the last step