Rebuilding Ireland home loan

Hi all.
Just an update really. I got approval from DCC yesterday and that they will post out loan offer letter. They never said anything about funds not available? I rang last week to see what was happening and they said there still going ahead with new applications.

Does anyone know whats the next step I need to take (is there forms I need to be getting) I just want to be one step ahead and move things along on my end because as iv been reading they are slow.

Hi delboy08,
From the date your application went to DCC to notification of approval...how many weeks/months were you waiting? And did they just ring you to let you know you have been approved?

Quinnciara wrote: »

I'm with DCC they just emailed today to say that I needed to send in a draft family home declaration form, I thought I didn't need to do that until the signing of the contracts..hopefully my solicitor gets it to me today and I can email it over to the council. They said they person who was processing my application is out sick.

You send in the draft one now and sign the official one when signing contract.

Looking for any and all advise here! I've had my paperwork returned by SDCC, claiming my letters of insufficient offers were old, both were from early last year. It doesn't say anywhere that the letters should be within a time frame does it?
Also, I put down I was looking for the maximum, Eur288,000 and they've said that that was too high. They didn't indicate WHAT would be a number for consideration.
Has anyone had any dealing with SDCC that could steer me in the right direction?

Ukelele! wrote: »

Clare Coco 🙄 they've been extremely helpful, but it seems it's their solicitor that's busy and I'm just not a priority maybe.

Has anyone actually drawn down for 2019 yet?

I found Clare co co to be good but it is very slow plus their solicitors can slow it further!

Hi all

I have gone sale agreed on a house and am just waiting for the sale agreed pack to be sent out.I am with Fingal coco does anybody know what information they look for in this pack as i've read every council seems to be looking for different things.

harmarsuperstar wrote: »

I assume the caps on this scheme is pretty strict right? We've been outbid on a place but I think a bid of €255k would bring it home for us but we can't make that bid under the rules.

Is it possible to make side deals, like say €5k for contents? Is that something that happens in ordinary property sales?

You can bid 255k if you want, but you won't get any extra of a mortgage.
They will only give you 90% of the value up to the max limit.
Hope this makes sense.

harmarsuperstar wrote: »

Unfortunately I don't think that is correct, my understanding was that the value of the property was capped at €250k (€320k in Dublin and certain other countries) under the scheme, irrespective of how much finance you can provide yourself.

Perhaps im wrong, I took it to mean the max mortgage you could get was 90% of the 250k or the 320k.
You should contact Rebuilding Ireland to make sure, wouldn't want you missing out on the house if possible.

Has anyone had any issues going sale agreed on a property because sellers/agents don’t feel secure with the Rebuilding Ireland scheme?

We were approved in January & recently made an offer on a property. We were highest offer but seller accepted a lower offer from a first time buyer who was bank approved as they didn’t know enough about the Rebuilding Ireland process and the time line in terms of how quickly they could close the deal. The agent didn’t know much about it either & couldn’t get much info from the council. I got all the information I could in terms of the process and gave it to the agent but there was no clear time line. The sellers solicitor advised them to go with bank approved offer.
So frustrating as this is supposed to help first time buyers and improve the housing crisis yet sellers/agents don’t seem to have any faith in the scheme.

Has anyone been approved since it was announced in the media that funding had run out? We are waiting to hear back... very long stressful wait

BelleO wrote: »

Has anyone had any issues going sale agreed on a property because sellers/agents don’t feel secure with the Rebuilding Ireland scheme?

We were approved in January & recently made an offer on a property. We were highest offer but seller accepted a lower offer from a first time buyer who was bank approved as they didn’t know enough about the Rebuilding Ireland process and the time line in terms of how quickly they could close the deal. The agent didn’t know much about it either & couldn’t get much info from the council. I got all the information I could in terms of the process and gave it to the agent but there was no clear time line. The sellers solicitor advised them to go with bank approved offer.
So frustrating as this is supposed to help first time buyers and improve the housing crisis yet sellers/agents don’t seem to have any faith in the scheme.

Can I ask what CoCo you are with?That's really upsetting after getting approved. I would have thought a loan from a county council was viewed as a secure thing though I know with public services that urgency is not their forte.
I've been approved too and it's disheartning to hear that might go against you.

Jmk725 wrote: »

I was sale agreed a month and a half ago and the seller/agent had no problem with it being a mortgage from the council.
They just went with the highest offer.
Heading in tomorrow to solicitor to sign all contracts and will be requesting money then.

In fairness that was before it was all over the media that the scheme was out of money etc. If I was selling and read the comments from the government I wouldn't be that keen on accepting a bid either given they still haven't clarified if there will be more funds for new applicants and what is the story going forward.

Evenstevens wrote: »

Can I ask what CoCo you are with?That's really upsetting after getting approved. I would have thought a loan from a county council was viewed as a secure thing though I know with public services that urgency is not their forte.
I've been approved too and it's disheartning to hear that might go against you.

We are approved with Fingal CoCo. Agent seemed happy with our proof of mortgage initially but wanted more information on the process and a rough time frame as the sellers were keen to close the sale. Fingal couldn’t provide me with much information other than it was a very similar process to the banks and generally takes 4-8 weeks. Agent just said the sellers weren’t confident that it would be as quick a process as the banks and therefore accepted a lower offer. Perhaps it was a once off with this particular seller but very disheartening if a bank approved mortgage is seen as the safer option. I really think the government should be providing agents with more information about the process and indeed agents should be researching the whole scheme to reassure their clients that it’s a safe option.

BelleO wrote: »

Has anyone had any issues going sale agreed on a property because sellers/agents don’t feel secure with the Rebuilding Ireland scheme?

We were approved in January & recently made an offer on a property. We were highest offer but seller accepted a lower offer from a first time buyer who was bank approved as they didn’t know enough about the Rebuilding Ireland process and the time line in terms of how quickly they could close the deal. The agent didn’t know much about it either & couldn’t get much info from the council. I got all the information I could in terms of the process and gave it to the agent but there was no clear time line. The sellers solicitor advised them to go with bank approved offer.
So frustrating as this is supposed to help first time buyers and improve the housing crisis yet sellers/agents don’t seem to have any faith in the scheme.

I've had agency's definately suddenly come uninterested and unresponsive after I had told them it was the rebuild ireland mortgage, they new very little about it and just kept calling it a 'council mortgage then I've had agents be nothing but helpful. One in particular actually told me not to mention when viewing a property that it's this scheme because agents look at it as lengthy. But i am sale agreed and my estate agent and others were more than helpful. There's more helpful ones than unhelpful.

if this is the case then dont be afraid to name and shame them on this. the agents are having it all good now but that can come to a halt anytime. I just think your best off saying nothing about having a RBI loan.