Rebuilding Ireland home loan

delkel38 · 24-05-2019 11:47pm

jjames.mmurphy wrote: »

Yeah. I'm mad go get the comm order in. Where or how did u do it. Did u have to upload your drawings ?

Localgov.ie follow instructions. Upload dwgs etc probably better get advice from your engineer to be safe. Best of luck

xxsammyxx085 · 24-05-2019 11:57pm

GF2013 wrote: »

Have you clarified that they won’t accept it?? You might still be ok on the income you have without it too though!!! Make sure you have the 12 months rent/savings, regularly each month. And make sure your accounts are clean ie no “lavish” spending etc

Yeah I have asked them they wont accept it, I think we have everything else in order, just about to start filling the forms out

Jamesiekel · 27-05-2019 10:40am

I'm with South Dublin County Council and have received my reference number and the guy in the office said my application has gone to the underwriters. Any idea when I should hear something back?

DamoNolan · 27-05-2019 8:19pm

I'm waiting for final approval but I'm just wondering what the next step is once I get it.im with fingal coco.thanks

jjames.mmurphy · 27-05-2019 8:51pm

Can you defiantly opt out of BCMS with the RI Loan?

Evenstevens · 28-05-2019 7:55am

DamoNolan wrote: »

I'm waiting for final approval but I'm just wondering what the next step is once I get it.im with fingal coco.thanks

Do you mean final approval as in them saying that they'll give you a loan or are you further on?

DamoNolan · 28-05-2019 8:59am

Evenstevens wrote: »

Do you mean final approval as in them saying that they'll give you a loan or are you further on?

I'm currently waiting on the final approval have mortgage protection sorted.but waiting on them to issue the letter to me but just wondering what's next after that thanks

Evenstevens · 28-05-2019 9:02am

DamoNolan wrote: »

I'm currently waiting on the final approval have mortgage protection sorted.but waiting on them to issue the letter to me but just wondering what's next after that thanks

Have you found a house yet?

DamoNolan · 28-05-2019 9:04am

Evenstevens wrote: »

Have you found a house yet?

Yes sale agreed got valuation and all that done.went for second interview and was told the final approval should be issue in about 2 week

Evenstevens · 28-05-2019 10:07am

DamoNolan wrote: »

Yes sale agreed got valuation and all that done.went for second interview and was told the final approval should be issue in about 2 week

Ah ok sorry can't help you. Just dropped all my docs back to the council-survey etc so I'm kind of at a similar point. My loan pack has to go out to my solicitor now so I think that will take some time.... DCC don't seem to do interviews at all....

DamoNolan · 28-05-2019 11:57am

Evenstevens wrote: »

Ah ok sorry can't help you. Just dropped all my docs back to the council-survey etc so I'm kind of at a similar point. My loan pack has to go out to my solicitor now so I think that will take some time.... DCC don't seem to do interviews at all....

When did u get the loan pack..did you get full approval yet??

Evenstevens · 28-05-2019 12:12pm

DamoNolan wrote: »

When did u get the loan pack..did you get full approval yet??

Well the loan pack goes directly to my solicitor as I understand it and then it's between me and my solicitor to see if any issues etc. They have advised it should be by the end of the week but I'm not holding my breath but I think I am fully approved at this stage. I don't think they'd issue the loan pack without that...?

Jmk725 · 28-05-2019 12:14pm

Evenstevens wrote: »

Well the loan pack goes directly to my solicitor as I understand it and then it's between me and my solicitor to see if any issues etc. They have advised it should be by the end of the week but I'm not holding my breath but I think I am fully approved at this stage. I don't think they'd issue the loan pack without that...?

Correct on both accounts.
Loan pack goes to solicitor, it means the council are happy with the property bought and your ability to repay.
Loan pack is then signed and returned to councils solicitor.
You will then need to get insurance for the property and note councils interest.
Once that is done they will then request the funds.

DamoNolan · 28-05-2019 1:02pm

Evenstevens wrote: »

Well the loan pack goes directly to my solicitor as I understand it and then it's between me and my solicitor to see if any issues etc. They have advised it should be by the end of the week but I'm not holding my breath but I think I am fully approved at this stage. I don't think they'd issue the loan pack without that...?

I understand it now..I think your a step ahead of me but at least now I have an idea of what's happening cheers

Laurazal · 28-05-2019 11:11pm

Could anyone advice if Bank's Sanction in Principle Letter (basically, approval in principle for a certain amount) is OK for the Council? Still gathering the documents for main application and these letters from banks seem to be the headache...

Amary · 29-05-2019 8:53am

Laurazal wrote: »

Could anyone advice if Bank's Sanction in Principle Letter (basically, approval in principle for a certain amount) is OK for the Council? Still gathering the documents for main application and these letters from banks seem to be the headache...

I just got approval in principal from AIB and BOI did both over the phone and printed the letters. It didn’t say in the letters that it was the maximum I could get so I wasn’t sure if it would be ok. That was fine with Louth CC.

Evenstevens · 29-05-2019 8:54am

Laurazal wrote: »

Could anyone advice if Bank's Sanction in Principle Letter (basically, approval in principle for a certain amount) is OK for the Council? Still gathering the documents for main application and these letters from banks seem to be the headache...

Yes they should be fine. I'm with DCC and used the online AIB approval in principle and had to do full application to KBC. They were accepted.

Laurazal · 29-05-2019 12:03pm

Hi, guys. I find this tread to be so useful and reassuring. A quick question: when you fill in the application form but do not have a property in mind yet, do you just enter the maximum amount that you hope to be approved of? And if approved, do you have to go with the maximum amount then or is there any flexibility in this?

Jmk725 · 29-05-2019 12:12pm

Laurazal wrote: »

Hi, guys. I find this tread to be so useful and reassuring. A quick question: when you fill in the application form but do not have a property in mind yet, do you just enter the maximum amount that you hope to be approved of? And if approved, do you have to go with the maximum amount then or is there any flexibility in this?

Correct, enter in the amount you hope to be approved for.
If approved, you do not have to take the full amount.
You will only get 90% of the sale price as mortgage.
For example, imagine you get approved for €150,000.
You go sale agreed for €160,000, you have to pay 10% yourself, €16,000, that means your mortgage can be a maximum of €144,000.

Hope this helps.

Amary · 29-05-2019 1:55pm

Laurazal wrote: »

Hi, guys. I find this tread to be so useful and reassuring. A quick question: when you fill in the application form but do not have a property in mind yet, do you just enter the maximum amount that you hope to be approved of? And if approved, do you have to go with the maximum amount then or is there any flexibility in this?

When I went for the meeting I was told to just write in Maximum available on it. I was afraid of putting down too much and getting refused.

conbob · 29-05-2019 8:51pm

Where did ye get the appendix 1A - HPL1 form signed, I’m finding it difficult to see where this form needs to be brought. Can it be brought to any regional tax office or posted to one?

Evenstevens · 29-05-2019 9:41pm

conbob wrote: »

Where did ye get the appendix 1A - HPL1 form signed, I’m finding it difficult to see where this form needs to be brought. Can it be brought to any regional tax office or posted to one?

I filled it out and sent it to the Revenue email address below. I included all my contact details address phone etc and asked if they could direct it to the appropriate place and post it back to me. They rang me back in a couple of days and posted it to me
custform@revenue.ie

BelleO · 29-05-2019 10:29pm

conbob wrote: »

Where did ye get the appendix 1A - HPL1 form signed, I’m finding it difficult to see where this form needs to be brought. Can it be brought to any regional tax office or posted to one?

You can go into your local revenue office and they do it there and then for you so eliminates any delays.

BelleO · 29-05-2019 10:35pm

DamoNolan wrote: »

I'm waiting for final approval but I'm just wondering what the next step is once I get it.im with fingal coco.thanks

Fingal will send you your final approval and you just need to sign it and send it back to them. The law department in fingal will then issue a loan pack to your solicitor and then you will be ready to sign contracts with your solicitor. I am signing contracts next week and it all seems very straight forward from this point on.
Once you sign contracts the solicitor will look after everything with fingal from here on in.

BelleO · 29-05-2019 10:44pm

GF2013 wrote: »

Question for anybody who’s already drawn down please??? Is the loan pack they send just the loan offer letter and the acceptance form we need to have signed in presence of solicitor? Our solicitor said there should be other documents sent to him and won’t meet us until he receives them, council not returning our call to clarify and we want to get the ball rolling!

Did you already receive your sale agreed pack and meet for your final interview?

We made an offer on house, received out sale agreed pack & went back for final interview with updated salary certs, savings etc and signed the MPI agreement. Then two weeks later received out final approval and repayment information, we had to sign it and return it and then 1 week later our solicitor received the contracts from Fingal and now we are due to meet with solicitor next week to sign contracts and finalise everything.
Hope that helps.

BelleO · 29-05-2019 10:49pm

Laurazal wrote: »

Could anyone advice if Bank's Sanction in Principle Letter (basically, approval in principle for a certain amount) is OK for the Council? Still gathering the documents for main application and these letters from banks seem to be the headache...

You don’t actually need an official letter of offer/refusal from banks anymore. You can use the online mortgage calculator and take a print screen of the amount you are offered and this will suffice.
A year ago I applied and had to get the two letters of mortgage approval:refusal from banks and it was tedious to get them. My circumstances changed so submitted a new application late last year and the council advised that a screenshot of online mortgage calculator will be enough as most banks are making it difficult for people to get these letters from them.

DamoNolan · 30-05-2019 8:31am

BelleO wrote: »

Fingal will send you your final approval and you just need to sign it and send it back to them. The law department in fingal will then issue a loan pack to your solicitor and then you will be ready to sign contracts with your solicitor. I am signing contracts next week and it all seems very straight forward from this point on.
Once you sign contracts the solicitor will look after everything with fingal from here on in.

Once I sign it and send it back how long does it take fingal laws department to send out the loan pack??thanks

BelleO · 30-05-2019 12:01pm

DamoNolan wrote: »

Once I sign it and send it back how long does it take fingal laws department to send out the loan pack??thanks

Our solicitor had the loan pack back from Fingal in about 7 working days so not too long at all.

Ukelele! · 30-05-2019 3:22pm

Laurazal wrote: »

Hi, guys. I find this tread to be so useful and reassuring. A quick question: when you fill in the application form but do not have a property in mind yet, do you just enter the maximum amount that you hope to be approved of? And if approved, do you have to go with the maximum amount then or is there any flexibility in this?

For me, when i put my salary into the calculator, it said I'd get around 120,000. This wasn't really enough, so I decided to apply for 160,000 and the coco told me to apply for the higher amount and then they'd come back to me with a lower amount, if needed. It took 6 weeks for them to come back to me and say "you applied for too much" and made me start the application all over again. So just bear that in mind. It wasted 6 weeks. When i reapplied for the 120,000, i had to submit screenshots of the calculator showing my salary giving me 120,000.

Amary · 31-05-2019 12:11am

BelleO wrote: »

You don’t actually need an official letter of offer/refusal from banks anymore. You can use the online mortgage calculator and take a print screen of the amount you are offered and this will suffice.
A year ago I applied and had to get the two letters of mortgage approval:refusal from banks and it was tedious to get them. My circumstances changed so submitted a new application late last year and the council advised that a screenshot of online mortgage calculator will be enough as most banks are making it difficult for people to get these letters from them.

It just depends on what council you are applying to. I had to have letters from the bank a screenshot wasn’t good enough. Maybe phone and ask before putting in your application.

massy086 · 31-05-2019 11:35am

Hi has anyone self employed got approved on this sceme

blahbaba · 01-06-2019 7:07pm

does anyone know how strict they are with house size?? if inside the price range?

Shaun__90 · 02-06-2019 8:45am

Hi, I was refused on friday based on my last 12 months savings which was €16,000!!? Can someone please tell me why they said that I had insufficient savings, or has anyone else had this problem? I have the full 10% deposit for the house and a little bit more. They don't explain themselves very well.

Amary · 02-06-2019 2:38pm

Shaun__90 wrote: »

Hi, I was refused on friday based on my last 12 months savings which was €16,000!!? Can someone please tell me why they said that I had insufficient savings, or has anyone else had this problem? I have the full 10% deposit for the house and a little bit more. They don't explain themselves very well.

Do you have enough saved to cover stamp duty and solicitors fees? I was told I needed that too. Did you have any break in savings over the 12 months it needs to be continuous savings. They should explain to you what the problem is. Hopefully someone else on here will know more.

Shaun__90 · 02-06-2019 4:44pm

Amary wrote: »

Do you have enough saved to cover stamp duty and solicitors fees? I was told I needed that too. Did you have any break in savings over the 12 months it needs to be continuous savings. They should explain to you what the problem is. Hopefully someone else on here will know more.

Yeah I have all of that and I am also eligible for the Help to Buy grant also, they never explained in any detail, they just stated insufficient savings over a 12 month period, and i save every month with no breaks.

GF2013 · 03-06-2019 4:53pm

BelleO wrote: »

Did you already receive your sale agreed pack and meet for your final interview?

We made an offer on house, received out sale agreed pack & went back for final interview with updated salary certs, savings etc and signed the MPI agreement. Then two weeks later received out final approval and repayment information, we had to sign it and return it and then 1 week later our solicitor received the contracts from Fingal and now we are due to meet with solicitor next week to sign contracts and finalise everything.
Hope that helps.

Thanks for that!!! We received the final loan offer letter and have our meeting tomorrow with the council. Our solicitor was contacted by council solicitor on Friday to say he’d receive the loan pack shortly so hopefully things will get moving quicker from this week. Our vendors solicitor sent a letter last week to say he’s quite ill so to hurry things along quickly. My nerves are shattered!

delkel38 · 03-06-2019 5:15pm

blahbaba wrote: »

does anyone know how strict they are with house size?? if inside the price range?

They are strict with 175sqm max size unfortunately.

03-06-2019 6:17pm

The scheme back in news for all the wrong reasons.

Jmk725 · 04-06-2019 9:19am

Shaun__90 wrote: »

Yeah I have all of that and I am also eligible for the Help to Buy grant also, they never explained in any detail, they just stated insufficient savings over a 12 month period, and i save every month with no breaks.

Ask them for more details, what you have to show, get it in writing.
I was rejected first time too as I didn't "demonstrate ability to repay".
Had to get more details off them as to what this meant.
I appealed their decision and won so I got offered what I requested.

JessC1987 · 04-06-2019 12:44pm

Quick query to anyone who has been fully approved with DCC:

Called DCC today and was advised we've been fully approved by underwriters and credit committee and we are to expect an official letter of offer over the coming days. I understand we're to sign this and send it back, can we start to look immediately at houses or do we need to wait until they receive our acceptance of the offer? Thanks in advance

04-06-2019 12:46pm

State home loan scheme could be oversubscribed by almost 100%

https://www.rte.ie/news/ireland/2019/0603/1053181-rebuilding-ireland-scheme/

"On the basis of ministerial assurances that the scheme was not on hold, Mr Harpur put a deposit down on a new-build house. However, six months on from his application he is yet to receive any confirmation that he has been approved for the State-backed mortgage that makes the purchase possible."

Whatever about the scheme being a shambles,this lad has made a very foolish decision.

Sweet.Science · 04-06-2019 1:17pm

BrownFinger wrote: »

State home loan scheme could be oversubscribed by almost 100%

https://www.rte.ie/news/ireland/2019/0603/1053181-rebuilding-ireland-scheme/

"On the basis of ministerial assurances that the scheme was not on hold, Mr Harpur put a deposit down on a new-build house. However, six months on from his application he is yet to receive any confirmation that he has been approved for the State-backed mortgage that makes the purchase possible."

Whatever about the scheme being a shambles,this lad has made a very foolish decision.

I wonder the % of people who actually draw down.

Jmk725 · 04-06-2019 1:22pm

JessC1987 wrote: »

Quick query to anyone who has been fully approved with DCC:

Called DCC today and was advised we've been fully approved by underwriters and credit committee and we are to expect an official letter of offer over the coming days. I understand we're to sign this and send it back, can we start to look immediately at houses or do we need to wait until they receive our acceptance of the offer? Thanks in advance

You can start looking now but don't go sale agreed until you get the official letter from them confirming you have gotten the mortgage.
Best safe than sorry.

Jmk725 · 04-06-2019 1:23pm

Sweet.Science wrote: »

I wonder the % of people who actually draw down.

I am drawing mine down this week and I know a number who have drawn down theirs already.

Darkglasses · 04-06-2019 1:27pm

BrownFinger wrote: »

State home loan scheme could be oversubscribed by almost 100%

https://www.rte.ie/news/ireland/2019/0603/1053181-rebuilding-ireland-scheme/

"On the basis of ministerial assurances that the scheme was not on hold, Mr Harpur put a deposit down on a new-build house. However, six months on from his application he is yet to receive any confirmation that he has been approved for the State-backed mortgage that makes the purchase possible."

Whatever about the scheme being a shambles,this lad has made a very foolish decision.

Mental to put down a deposit while there actually isn't any funding in place for your loan.

Edgware · 04-06-2019 1:53pm

Darkglasses wrote: »

Mental to put down a deposit while there actually isn't any funding in place for your loan.

He is a hard working man who is trying to do the best for his family.

Graham · 04-06-2019 2:01pm

I'm surprised the EA accepted an offer (never mind a deposit) without proof of funds.

Jmk725 · 04-06-2019 2:11pm

Yea, the EA wanted proof of funds from me before my offer was accepted.

JessC1987 · 04-06-2019 2:41pm

Jmk725 wrote: »

You can start looking now but don't go sale agreed until you get the official letter from them confirming you have gotten the mortgage.
Best safe than sorry.

Thank you, that makes perfect sense with all that is going on at the minute with the scheme. Really appreciate your reply!

Jmk725 · 04-06-2019 3:02pm

JessC1987 wrote: »

Thank you, that makes perfect sense with all that is going on at the minute with the scheme. Really appreciate your reply!

No problem.
The Estate Agent would probably want proof of funds as well before accepting offer anyway. Mine had to talk to the person in the council to confirm I had the funds.

Rebuilding Ireland home loan

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