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14-05-2018, 19:28   #61
bkelly7
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Originally Posted by Carlyd View Post
Just want to share my expierence with this scheme.
There seems to have been very little training provided in the County Councils. Everybody you speak to has a different answer.
I applied according to the criteria set out in the requirements list.
My first attempt to sumbit:
1)My rejection letters from the bank were not " rejectful" enough. They wanted more than just how much we had been declined on, they wanted to see how much we would be eligable for.
2) Despite the checklist stating p60 OR p21 I was turned away from not having my P21.
Both easily rectified
Returned a week later
Documents accepted.
5 weeks later.
Letter stating we were not eligable for the ammount we applied for 265,000 which I got from the calculator on their website!
Infact based on their calculations we could apply for 216,000.
They asked for a Gift Letter (we were recieving gift of deposit off both of our parents to get us out of the misery that is renting)
They asked for a letter from our landlord stating our monthly rent . Despite our rent being clear in bank statements.
Provided both of these documents.
Resubmitted.
6 weeks later we recieve a rejection letter based on the following:
1)Our earnings were outside of the loan criteria (we earn a combined 47k so well within the 75k limit)
2)We have to be seen to show unbroken savings of 3% of the property price. (A criteria that is not stated anywhere!! Nor mentioned at any previous stage of communication

our rent is nearly 3/4 of our combined wage a month and we have never missed a payment. This scheme was aimed at people just like us.
Paying an incredible ammount rent due to the shambolic private rental system so unable to save a considerable ammount a month for a mortgage.
If i met the criteria they rejected me on I would have been able to get a regular mortgage.

I was so excited when this scheme was announced. Finally an intellegent solution to the housing crisis that helps those in the middle! but alas just another pile of propaganda.


Hi Carlyd,

Sorry to hear about your experience, their reasons for rejection are ridiculous... Can I ask what county council it was that you submitted your application to?

Like yourself, I was delighted when I initially heard about this scheme, but the more I read about people's experiences, the more pessimistic I've become.

I applied through Kildare County Council five weeks ago and yet to hear anything. In the last week, they've actually stopped answering their phone when I call hoping to get some sort of update.

I wonder if you would have any grounds to appeal the council's decision, given that you fit clearly fit the required criteria.
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14-05-2018, 20:51   #62
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Rebuild Ireland Home Loan

Hello has anyone received an offer of a loan yet? If so how long did it take for your application to come back from the underwriters? How long are other applicants waiting? I am waiting 5 weeks and can’t get an answer for a time frame. Any information would be great. Has anyone has any complications with the process? Thanks in advance!
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14-05-2018, 20:52   #63
Stheno
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read this thread

https://touch.boards.ie/thread/2057847716/6
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14-05-2018, 22:08   #64
Cazzums
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Thank you
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15-05-2018, 20:23   #65
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May I ask your experience , do they including all the bonus and over time ?
My gross salary is €30,900 but my P60 is €43K which includes the bonus , commission and over times, does the calculation base on the gross salary or P60? I contact rebuilding Ireland and they told me to use the P60 amount !! But most of the comments here said the calculation not include over time and bonus !! I m very confused! Hope you able to give me advice! Thank you in advance
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15-05-2018, 20:57   #66
Lolle06
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Originally Posted by Sammylok1977 View Post
May I ask your experience , do they including all the bonus and over time ?
My gross salary is €30,900 but my P60 is €43K which includes the bonus , commission and over times, does the calculation base on the gross salary or P60? I contact rebuilding Ireland and they told me to use the P60 amount !! But most of the comments here said the calculation not include over time and bonus !! I m very confused! Hope you able to give me advice! Thank you in advance
As far as I know, the Local Authority you apply to will have the final say, so you are better off talking to them - especially when it comes to your extra income.

And to answer your earlier question: I did not apply for this loan scheme - I am more familiar with the former one.
That‘s why I thought they would have a mortgage cut-off of 65 years - but they might have extended that now, although you are better off asking your Local Authority as well. Just to be sure.
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15-05-2018, 23:32   #67
Sammylok1977
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Thanks so much for your advice! I did ring two different council they both said will consider use the extra income and may be apply the 29 years mortgage!!
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16-05-2018, 07:42   #68
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Originally Posted by Sammylok1977 View Post
Thanks so much for your advice! I did ring two different council they both said will consider use the extra income and may be apply the 29 years mortgage!!
That sounds great!

Best of luck with your application, Sammylok.
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16-05-2018, 13:16   #69
Sammylok1977
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Thanks so much !! Prayed !!
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17-05-2018, 11:55   #70
LauraAaron
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So glad I found this thread myself and my husband have been renting in Donegal for 7 years now our rent is €630 a month. I'll be keeping an eye on what every one is saying you need to do and making a checklist. We won't be applying for at least a year but I hope by then we have everything in order to do so x because let's face it all we are doing is paying someone else's mortgage when we can easily afford our own
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17-05-2018, 18:13   #71
unclejoe89
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Hi does anyone know if the primary earner must be in the SAME job for 2 years, or can you change to a different job?

Primary earner must have at least 2 years continuous employment
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17-05-2018, 21:14   #72
autumnbelle
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Hi does anyone know if the primary earner must be in the SAME job for 2 years, or can you change to a different job?

Primary earner must have at least 2 years continuous employment
Not the same job just continuous employment, ok to change jobs
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18-05-2018, 17:00   #73
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Hi I am waiting over 8 weeks and no response or updates and I am close to loosing a house that I have a holding deposit put down on - the delays and lack of updates is very frustrating. A high street bank can give you approval in principle in less than 24 hours and full approval ina round two weeks. How can we compete with other buyers who get answers quicker. I’m beyond frustrated
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18-05-2018, 17:04   #74
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Hi Sue, is that 8 weeks with the underwriters or 8 weeks since you handed in your application? I gave my application in at the start of February and it was only sent to the underwriters mid April and still no joy. I was told initially 2-3 weeks then 4-5 weeks but god knows how much longer! I am the same have a house secured but can’t do anything more!!
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18-05-2018, 17:44   #75
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Oh my god!!! That’s shocking!! I handed mine into council 8 weeks ago and they sent it to housing agency to be assessed as far as I know! I have the pooor guy at the council driven mad ringing for updates but he has heard nothing! I have painters and carpenters waiting and I can’t give go ahead. If I loose this house I can’t afford the prices of anything else north of Wexford
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