Rebuilding Ireland home loan

My 9 month long saga continues with now the latest update being that instead of being able to progress this week as I was told we would, there will now be another 28 day wait until the certificate we need to proceed can issue.

DCC have been on looking for an update, and now my fear is that I may need to reapply all over again and in the process, lose the old interest rates and not be able to borrow as much as I have agreed to pay for the place. Hopefully it won't come to that but it is a stress I don't need.

My solicitor continues to be next to useless.

Maybe I'll finally get keys sometime in 2025.

Hello. How much guys you have to earn as a couple if you ask at least for 240.000?

Len_007 wrote: »

After handing in the application forms way back in April 2019, we closed on the house and received the keys today.
Both myself and my wife are delighted.
With a single income, getting a mortgage on the high street for somewhere near my place of work is impossible. So I'm very grateful for the RIHL initiative.

I encourage anyone engaged in the process to not give up, it may be a long road, but you'll get there in the end!

Take that 2020!

Fantastic news, we're not far behind.
Looking like Monday/Tuesday at this stage to close and get keys.

It was a long road starting in October last year when we signed building and loan contracts.

Extensions held up just fine with original loan rates which was a concern whole way through.

We're in exact sane situation and getting a loan from the bank wouldn't be near enough to have the same options, likewise we're also grateful to have RIHL.

It is a long road but gets you there

Gael23 wrote: »

I have a medical issue and have been refused MPI.
Where does that leave things?

You don’t have to go with the mpi through the council. You can source your own (but only if you have been refused through rihl). Sourcing your own is cheaper too. Royal London, Irish life etc

BKWDR wrote: »

A scan of this thread will throw up people who have failed to get the council mpi who didn't get the loan.
It's part of the scheme that you have to be on the group scheme otherwise they can not advance the loan.

I would be careful in suggesting otherwise

No not necessarily. Further back on the thread people got exempt from it so I looked into it. Firstly I spoke on the chat feature on their website - see attached. They gave me a phone number for the housing dept in my local co co. I rang them. If/when I will be turned down for their mpi she said I could source my own but they need to approve it. Royal London were happy to proceed but I had an issue with my savings last December (paid off a loan and saved little) so my savings were not consistent for 12 months so I’m waiting until January.

I had not had an unplanned admission to hospital for 2 years but that doesn’t seem good enough

dave98 wrote: »

What stage are you at? Did you get refused from council and the 6 insurance companies that offer it?

No haven’t applied yet but I’ve been refused by high street insurers going through ordinary banks

Maz2016 wrote: »

No not necessarily. Further back on the thread people got exempt from it so I looked into it. Firstly I spoke on the chat feature on their website - see attached. They gave me a phone number for the housing dept in my local co co. I rang them. If/when I will be turned down for their mpi she said I could source my own but they need to approve it. Royal London were happy to proceed but I had an issue with my savings last December (paid off a loan and saved little) so my savings were not consistent for 12 months so I’m waiting until January.

Yeah the council need to approve it though. I would be careful in that context.
Either here or on the mortgage forum someone said they gave their cover to council and it wasn't accepted because it wasn't equivalent to the cover that they offer
Doesnt it say in the credit policy? I can't find the link for it here

Is it works it works. But I would be careful about thinking its as straight forward as that and I would take the rihl chat person with a pinch of salt tbh

Is a larger deposit required under this scheme for 1 bed apartments?

beanyb wrote: »

My 9 month long saga continues with now the latest update being that instead of being able to progress this week as I was told we would, there will now be another 28 day wait until the certificate we need to proceed can issue.

DCC have been on looking for an update, and now my fear is that I may need to reapply all over again and in the process, lose the old interest rates and not be able to borrow as much as I have agreed to pay for the place. Hopefully it won't come to that but it is a stress I don't need.

My solicitor continues to be next to useless.

Maybe I'll finally get keys sometime in 2025.

Contracts and loan pack are finally signed on on the way back to DCC. We can't close until the 28 days elapses for this certificate, but we should be good to go in mid-January. Hopefully no more drama from this point on. Old interest rates have held for me thank god.

Hi Guys,

We will be leaving this forum after completing the process with Cork County Council. If anyone has any questions, please mail me and I can try to help you.

DK

Hi everyone. Ive just received mortgage approval from Kildare council. Could you help me with details on mortgage solicitor you have used

Thank you

SDCC sent me back my app with a laundry list of stuff they want done differently. It's exactly the same app that was already approved by DCC and I've been told was "perfect" and will be approved by Fingal.

So, a word of warning. Looking through this makes them look like a bit of a nightmare and it makes me think they're looking for reasons not to accept applications.

Hi,

Has done a self build with RIHL and if so how did you get on? I’m hoping to buy land and build as the house prices in my area have increased I’m no longer hopeful that I can afford a second hand home.

Thank you.

janandbren wrote: »

Does anyone think you will be able to avail of the RIHL and the new shared equity scheme announced together? One public sector salary and one part time salary with three children doesn't leave us much options in Cork atm!

The shared equity scheme will only increase house prices and cause more problems than it creates.