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Rebuilding Ireland home loan

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    #3272
    ABCD_1234
    Registered Users Posts: 56 ✭✭ABCD_1234


    Hi,

    When it comes to the loan amount you are approved for. Has anyone had any experience with RIHL and guaranteed bonuses? I read a post yesterday stating RIHL only apply an addition 10% of your basic salary rather than the full guaranteed bonus?

    Thank you.


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    #3273
    delkel38
    Registered Users Posts: 28 ✭delkel38


    navan21 wrote: »
    Has anyone gotten this loan for a self build recently? Finding it so difficult to find experiences from anyone who has! Thanks

    Yeah I have. Just PM you


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    #3274
    jill_valentine
    Registered Users Posts: 7,090 ✭✭✭jill_valentine


    jill_valentine wrote: »
    I strongly suspect they'll probably ask me for the payslips, salary cert and letter again :pac: but I don't know for sure yet.

    I'll give you a full timeline so far -

    07/08/20 - Posted Application to Dublin City Council (note that this was a Friday, so bear in mind two days of weekend to follow)
    12/08/20 - Got a follow up query requesting a Gift Letter, scanned and returned this by email same day. Was advised all else was in order and it would go to the Underwriters, and this would take 6-8 weeks.
    18/09/20 - Emailed for update, advised app was back from Underwriters and would go on to the Credit Committee, which was to meet mid October.
    08/10/20 - Emailed for update, was advised it was just back from Credit Committee and that I'd been approved, that there was a declaration of Continuity of Employment on the way out to me to be signed, and that I'd be required to submit proofs to this effect (2 Payslips, a Salary Cert and a letter from my employer to say I would not be on the Covid subsidy and my circumstances of employment had not changed since my initial application)
    12/10/20 - Received Declaration in post, signed and returned along with requested 2 payslips. Could not get a non-standard letter from my employer in a timely fashion, so I phoned DCC to ask what else might suffice. Was assured the Salary Cert was all that was required for this (NB - This was NOT the case, see below) and sent Declaration, Payslips and Salary Cert off that day.
    21/10/20 - Emailed for update after not receiving documents. DCC phoned me to tell me Salary Cert was actually not sufficient to demonstrate continuity of employment, I would require a signed letter from my company on headed paper to this effect.
    23/10/20 - Obtained above letter from employer in digital format, emailed it in.
    27/10/20 - DCC queried the e-sign signature on the letter as they thought it looked like it was cut and pasted. After a very stressed out back and forth, I CC'd my HR Department rep who confirmed it was legit, this was then accepted.

    Recieved my Approval in Principle docs today, 02/11/20 :)


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    #3275
    jessimirish
    Registered Users Posts: 37 ✭jessimirish


    jill_valentine wrote: »
    Recieved my Approval in Principle docs today, 02/11/20 :)

    Yaaaaaaay! congrats! good luck with the search :)


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    #3276
    KH1591
    Registered Users Posts: 104 ✭✭KH1591


    jill_valentine wrote: »
    Recieved my Approval in Principle docs today, 02/11/20 :)

    Congratulations!! Best of luck with your house hunt!!


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    #3277
    Lauren52
    Registered Users Posts: 144 ✭✭Lauren52


    jill_valentine wrote: »
    Recieved my Approval in Principle docs today, 02/11/20 :)

    Happy Days, Congrats, enjoy the house hunting :)


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    #3278
    Scr88
    Registered Users Posts: 12 ✭Scr88


    So I'm at the final stages. The house is to be inspected by my engineer next Tuesday. However the council are now saying it may take 4 to 8 weeks to get their own engineer out to inspect the house. This sounds mad that they could hold up the closing of the sale by up to 8 weeks. Its a new house and will be finished on Friday. Anyone experience anything similar? Thanks


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    #3279
    Jafin
    Registered Users Posts: 769 ✭✭✭Jafin


    Scr88 wrote: »
    So I'm at the final stages. The house is to be inspected by my engineer next Tuesday. However the council are now saying it may take 4 to 8 weeks to get their own engineer out to inspect the house. This sounds mad that they could hold up the closing of the sale by up to 8 weeks. Its a new house and will be finished on Friday. Anyone experience anything similar? Thanks

    I don't have anything to say that will help you, but I just find it so bizarre how different it's run from council to council. I had to get the engineer's report done myself and then the council just reviewed it. They never said anything about having their own engineer go inspect the property. What's the point of getting you to sort out an engineer if they're just going to send their own one anyway? Makes no sense. Don't get me wrong, all the people I've dealt with in the council have been absolutely lovely and very helpful, but the whole scheme seems like it has no consistency from council to council.


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    #3280
    Nexus26
    Registered Users Posts: 4 ✭Nexus26


    Stekell wrote: »
    yes you have get MPI through your council subject to approval from Utmost(the MPI company) but if you get refused you can get it yourself once it meets the councils approval

    Hi Stekell, I have also been declined cover by Utmost and had to look for a private life insurance. I am paying though, the same amount for the MPI (as if I was covered) plus the private.
    When I mentioned this to my lawyer he said it was unlawful because I was refused and was not given a discount for it. I am paying for something that they are refusing to offer.
    At the end of the 25 years I will spend 15,000 Euro on top of the MPI.
    Your post is dated a year ago so I assume that by now you have already finished your process. Do you pay the full amount of the MPI plus the private insurance?
    Thank you in advance


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    #3281
    BKWDR
    Registered Users Posts: 2,172 ✭✭✭BKWDR


    Nexus26 wrote: »
    Hi Stekell, I have also been declined cover by Utmost and had to look for a private life insurance. I am paying though, the same amount for the MPI (as if I was covered) plus the private.
    When I mentioned this to my lawyer he said it was unlawful because I was refused and was not given a discount for it. I am paying for something that they are refusing to offer.
    At the end of the 25 years I will spend 15,000 Euro on top of the MPI.
    Your post is dated a year ago so I assume that by now you have already finished your process. Do you pay the full amount of the MPI plus the private insurance?
    Thank you in advance

    Presume you are part of a joint application and the remaining person / partner was approved by utmost?


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    #3282
    Lauren52
    Registered Users Posts: 144 ✭✭Lauren52


    KH1591 wrote: »
    Application is currently with the underwriters, during this level 5 lockdown I have been laid off of work but my partner has not. Would this affect anything during this stage? We've our full deposit saved and everything is in order. I've heard it shouldn't affect anything until you go to drawdown the mortgage but just want to be certain!

    Hey have You heard anything from them yet? Is it back from underwriters?

    I am getting so fed up looking at the phone every five mins of every day to see if there is an email.

    Can I ask You when You put your application In?


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    #3283
    Scr88
    Registered Users Posts: 12 ✭Scr88


    Jafin wrote: »
    I don't have anything to say that will help you, but I just find it so bizarre how different it's run from council to council. I had to get the engineer's report done myself and then the council just reviewed it. They never said anything about having their own engineer go inspect the property. What's the point of getting you to sort out an engineer if they're just going to send their own one anyway? Makes no sense. Don't get me wrong, all the people I've dealt with in the council have been absolutely lovely and very helpful, but the whole scheme seems like it has no consistency from council to council.
    Thanks for your reply. Yes really doesn't make sense when I'm forking out for my own inspection, surely you would think its enough. All I can do is hope that they will inspect it sooner than that. So frustrating when finally at the end to be held up now. It's a long process... Exhausting. Thanks again for your reply


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    #3284
    KH1591
    Registered Users Posts: 104 ✭✭KH1591


    Lauren52 wrote: »
    Hey have You heard anything from them yet? Is it back from underwriters?

    I am getting so fed up looking at the phone every five mins of every day to see if there is an email.

    Can I ask You when You put your application In?

    PM Sent


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    #3285
    Nexus26
    Registered Users Posts: 4 ✭Nexus26


    That's correct. My partner was approved.
    Then I had to look for cover for myself but still pay 100% of the amount of the MPI even though I am not covered by Utmost.


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    #3286
    Nexus26
    Registered Users Posts: 4 ✭Nexus26


    BKWDR wrote: »
    Presume you are part of a joint application and the remaining person / partner was approved by utmost?

    That's correct. I was refused but my partner was approved. I then had to look for a private insurance and still pay for 100% of the MPI even though I am not covered by Utmost.
    Therefore I am paying for 2 life insurances.


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    #3287
    KH1591
    Registered Users Posts: 104 ✭✭KH1591


    Has anyone in Kildare had any update on their application yet?


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    #3288
    BKWDR
    Registered Users Posts: 2,172 ✭✭✭BKWDR


    Nexus26 wrote: »
    That's correct. I was refused but my partner was approved. I then had to look for a private insurance and still pay for 100% of the MPI even though I am not covered by Utmost.
    Therefore I am paying for 2 life insurances.

    And have they accepted your private insurance?

    In essence, if it was a single application , the price would be the same, it just covers both parties. The individual borrowers need to have the cover in place is all, i dont think its illegal.

    I think someone said on this thread that if you dont get covered by the coucnils mpi they dont have to lend to you so at least they are accepting your private quote


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    #3289
    Sarahedel1991
    Registered Users Posts: 13 ✭Sarahedel1991


    Hi there I'm new to this thread, it's so helpful!

    I just received an email saying "Your application came back from the Housing Agency this morning. The next step is the Credit Committee meeting which is next week."

    Does this mean they make a decision then after the meeting? Does anybody know what this meeting entails?

    Also, does it go to the underwriters after this meeting?

    Any help or advice is much appreciated.


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    #3290
    KH1591
    Registered Users Posts: 104 ✭✭KH1591


    Sarahedel1991 wrote: »
    Hi there I'm new to this thread, it's so helpful! So I submitted my application to cork county council 3 weeks ago.

    I just received an email saying "Your application came back from the Housing Agency this morning. The next step is the Credit Committee meeting which is next week."

    Does this mean they make a decision then after the meeting? Does anybody know what this meeting entails?

    Also, does it go to the underwriters after this meeting?

    Any help or advice is much appreciated.

    Hey! The Housing Agency is the underwriters so the next step is the credit committee who give you the full approval!
    Thats extremely fast.. is that 3 weeks since you sent the first application or 3 weeks since you sent updated paperwork?
    Best of luck with everything!!


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    #3291
    Lauren52
    Registered Users Posts: 144 ✭✭Lauren52


    Sarahedel1991 wrote: »
    Hi there I'm new to this thread, it's so helpful! So I submitted my application to cork county council 3 weeks ago.

    I just received an email saying "Your application came back from the Housing Agency this morning. The next step is the Credit Committee meeting which is next week."

    Does this mean they make a decision then after the meeting? Does anybody know what this meeting entails?

    Also, does it go to the underwriters after this meeting?

    Any help or advice is much appreciated.

    This is Brilliant News,
    59 weeks faster than mine , Ours still with the housing agency , Best of Luck, sounds promising.


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    #3292
    Dankarl
    Registered Users Posts: 38 ✭Dankarl


    Sarahedel1991 wrote: »
    Hi there I'm new to this thread, it's so helpful! So I submitted my application to cork county council 3 weeks ago.

    I just received an email saying "Your application came back from the Housing Agency this morning. The next step is the Credit Committee meeting which is next week."

    Does this mean they make a decision then after the meeting? Does anybody know what this meeting entails?

    Also, does it go to the underwriters after this meeting?

    Any help or advice is much appreciated.



    Hi,

    We hope to get our keys this week with Cork County Council. Feel free to PM me any questions.


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    #3293
    Sarahedel1991
    Registered Users Posts: 13 ✭Sarahedel1991


    That's great! Good luck with getting your keys, so exciting!


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    #3294
    Sarahedel1991
    Registered Users Posts: 13 ✭Sarahedel1991


    Lauren52 wrote: »
    This is Brilliant News,
    59 weeks faster than mine , Ours still with the housing agency , Best of Luck, sounds promising.

    I hope yours gets sorted soon! I hope we have some luck, I will let you know!


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    #3295
    Sarahedel1991
    Registered Users Posts: 13 ✭Sarahedel1991


    KH1591 wrote: »
    Hey! The Housing Agency is the underwriters so the next step is the credit committee who give you the full approval!
    Thats extremely fast.. is that 3 weeks since you sent the first application or 3 weeks since you sent updated paperwork?
    Best of luck with everything!!

    Three weeks since we sent everything in! It does seem very fast! I don't know if this is a good thing or bad thing that its been so quick! 🀔 Do you think we have been half approved maybe? What do the credit comitee look at for approval do you know? Thanks for your help!


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    #3296
    Nexus26
    Registered Users Posts: 4 ✭Nexus26


    BKWDR wrote: »
    And have they accepted your private insurance?

    In essence, if it was a single application , the price would be the same, it just covers both parties. The individual borrowers need to have the cover in place is all, i dont think its illegal.

    I think someone said on this thread that if you dont get covered by the coucnils mpi they dont have to lend to you so at least they are accepting your private quote

    I don't know where they got this information but I was told the opposite by different CCs.
    If you are refused you can go on and get a private.
    Unfortunately each CC gives a different information.
    I was even told by one of them that if both applicants are refused MPI then both can go on private and they would not have to pay the MPI with the CC.


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    #3297
    BKWDR
    Registered Users Posts: 2,172 ✭✭✭BKWDR


    Nexus26 wrote: »
    I don't know where they got this information but I was told the opposite by different CCs.
    If you are refused you can go on and get a private.
    Unfortunately each CC gives a different information.
    I was even told by one of them that if both applicants are refused MPI then both can go on private and they would not have to pay the MPI with the CC.

    It's in the credit policy that you need to take the insurance from the government scheme to get the loan. That's across all councils.
    If they decide to let you get equivilant cover elsewhere it sounds like it's at their discretion. If both applicants can't get cover by councils scheme you don't have to pay it but it's up to the council if they let you advance to getting the loan


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    #3298
    SCLW89
    Registered Users Posts: 9 ✭SCLW89


    Sarahedel1991 wrote: »
    Hi there I'm new to this thread, it's so helpful! So I submitted my application to cork county council 3 weeks ago.

    I just received an email saying "Your application came back from the Housing Agency this morning. The next step is the Credit Committee meeting which is next week."

    Does this mean they make a decision then after the meeting? Does anybody know what this meeting entails?

    Also, does it go to the underwriters after this meeting?

    Any help or advice is much appreciated.

    Just sent in my application to Cork co co yesterday! So really great to hear you were only waiting 3 weeks to hear something! Best of luck with it!


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    #3299
    Salanky
    Registered Users Posts: 86 ✭✭Salanky


    Signed the last bit of paperwork this morning, council solicitor has the money in their account just waiting on three bits of info from the sellers solicitor and its all done and dusted.


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    #3300
    phobia2011
    Registered Users Posts: 1,291 ✭✭✭phobia2011


    Salanky wrote: »
    Signed the last bit of paperwork this morning, council solicitor has the money in their account just waiting on three bits of info from the sellers solicitor and its all done and dusted.

    Brilliant stuff, how long have you been waiting for the solicitors To get sorted, we are 3 weeks and still nothing from him. Have been told money is with council solicitors. The waiting/ check for emails would drive you nuts.


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    #3301
    Salanky
    Registered Users Posts: 86 ✭✭Salanky


    phobia2011 wrote: »
    Brilliant stuff, how long have you been waiting for the solicitors To get sorted, we are 3 weeks and still nothing from him. Have been told money is with council solicitors. The waiting/ check for emails would drive you nuts.

    My solicitors have been on at them since contracts were sent to them in the middle of August. Im sale agreed 15 weeks tomorrow and the contracts had been already drawn up as the house was sale agreed twice before I came along. They have sent the letters again today by courier and email and are gonna ring them again tomorrow to get it. They are waiting on the sellers pps number, the letter to say the council look after roads and services not a management company and the sellers solicitors PI number. Its three simple things that would take all of 10 seconds to send across.


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