Rebuilding Ireland home loan

Stekell · 17-09-2019 9:23pm

alwx777 wrote: »

Hey Stekell, have you heard from them yet? Do you know do they contact you directly?

The loan pack goes directly to your solicitor, we are still waiting unfortunately!!

alwx777 · 17-09-2019 9:26pm

Stekell wrote: »

The loan pack goes directly to your solicitor, we are still waiting unfortunately!!

I'm in the same boat. Have DCC given you any indication as to when you can expect the loan pack to be sent to your solicitor? Interested to know about the 3 week cooling off period.

Stekell · 17-09-2019 10:12pm

Hey,

Has anyone been refused the council's MPI and found suitable cover elsewhere? Looking for recommendations on where to start,.. everything is ready to go and this is going to hold us up. Feels like we've mountains to climb now!! TIA

Milenauno · 18-09-2019 7:59am

Stekell wrote: »

Hello,

Just a quick question, when you receive the loan pack is there a 3 week period to think over the decision before accepting the loan?

There are 3 weeks to accept since your solicitor receive the final loan offer.

Stekell · 18-09-2019 9:30am

alwx777 wrote: »

I'm in the same boat. Have DCC given you any indication as to when you can expect the loan pack to be sent to your solicitor? Interested to know about the 3 week cooling off period.

We have been declined for the MPI so we have to source our own MPI so its on hold until we sort it so no indication

kbman · 18-09-2019 11:09am

You can get the MPI from elsewhere?
in an approval letter I received it indicates that you must have the approval for the local authority mpi group scheme.

Surprised to hear you can get it elsewhere, maybe this is different from CC to CC.

Good luck with that Stekell, we all need luck for this scheme i think

Stekell · 18-09-2019 1:14pm

kbman wrote: »

You can get the MPI from elsewhere?
in an approval letter I received it indicates that you must have the approval for the local authority mpi group scheme.

Surprised to hear you can get it elsewhere, maybe this is different from CC to CC.

Good luck with that Stekell, we all need luck for this scheme i think

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

kbman · 18-09-2019 1:48pm

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

ah ok, i wonder how difficult it is to get approval for and what they accept, that's curious. I'd be interested to know how they're screening differs from other providers.

Thanks for update and info.

Zoeziggy123! · 18-09-2019 2:41pm

Hi All,

Just wondering what is the next step after signing Utmost Policy Docs? I have sent mine off but dont have much correspondence with CC.

What happens next?

lauraITT · 18-09-2019 3:26pm

3 weeks ago I was told valuation and engineers report were approved and that my solicitor would receive a loan pack in 'due course'. I got my solicitor to ring kcc legal department and they said nothing had been sent to them. She kindly looked into it and says that it is still awaiting 'sign off' which 'may' happen early next week.

Has anyone else dealt with that, it has been 3 weeks and still not even with legal. I keep ringing and emailing and nobody will take ownership and are constantly out of the office. I am at boiling point, feel like maybe I should go to the council and sit there till someone actually does something.

Milenauno · 19-09-2019 7:21am

alwx777 wrote: »

I'm in the same boat. Have DCC given you any indication as to when you can expect the loan pack to be sent to your solicitor? Interested to know about the 3 week cooling off period.

In my case it took 2 weeks since we brought all requested documents ( payslips, employee and GP letters) to DCC. I never heard about 3 week cooling off period. Once your solicitor receive the loan pack, the you have 3 weeks to accept, is that what you are talking about?

Zoeziggy123! · 20-09-2019 4:58pm

lauraITT wrote: »

3 weeks ago I was told valuation and engineers report were approved and that my solicitor would receive a loan pack in 'due course'. I got my solicitor to ring kcc legal department and they said nothing had been sent to them. She kindly looked into it and says that it is still awaiting 'sign off' which 'may' happen early next week.

Has anyone else dealt with that, it has been 3 weeks and still not even with legal. I keep ringing and emailing and nobody will take ownership and are constantly out of the office. I am at boiling point, feel like maybe I should go to the council and sit there till someone actually does something.

I feel the same, sick of it at this stage

kbman · 20-09-2019 5:28pm

Wow, sounds like I have a long way to go.
My application's still with Housing Agency last I heard and they're expecting it back to Wicklow CC.
I spent all day today calling and didn't get through to WCC, left one VM. More chance of a phone being answered than an email being replied to.

I'm hoping this comes back soon so I can get to the next stage, as it's a new build from plans i'm not sure what the process is.

Anybody else going through this process for a new build from plans, any complications you've come up against?

worlds goodest teecher · 20-09-2019 9:54pm

Met Council today re RIHL. They told me I needed life insurance. I have twice applied for life insurance but been denied. Ulster Bank will accept the refusal from life insurers but will not give us the amount we need (few grand short and way higher interest rate). AIB and BOI would not accept my Invalidity Pension payment as income. We have the means to make repayments and a deposit on a house. Gutted.

Milenauno · 21-09-2019 9:34am

worlds goodest teecher wrote: »

Met Council today re RIHL. They told me I needed life insurance. I have twice applied for life insurance but been denied. Ulster Bank will accept the refusal from life insurers but will not give us the amount we need (few grand short and way higher interest rate). AIB and BOI would not accept my Invalidity Pension payment as income. We have the means to make repayments and a deposit on a house. Gutted.

I would suggest to apply for RIHL adding all supporting proofs of savings, regular savings, ability to repay. We have been refused for 2 years from all banks and now we are nearly there with RIFL, signed sales contracts on Wednesday and waiting to close.

worlds goodest teecher · 21-09-2019 12:01pm

Milenauno wrote: »

I would suggest to apply for RIHL adding all supporting proofs of savings, regular savings, ability to repay. We have been refused for 2 years from all banks and now we are nearly there with RIFL, signed sales contracts on Wednesday and waiting to close.

It’s on the medical side of things that we are likely to fail. My consultants all tell me that in their medical opinion my illness will not get the better of me but they won’t put that in writing. Insurers won’t give me life insurance without confirmation from a Consultant and even if they did it would most likely result in a highly weighted premium. I have a physical disability and must live in a bungalow, meaning higher house price. No win situation.

Milenauno · 21-09-2019 7:06pm

worlds goodest teecher wrote: »

It’s on the medical side of things that we are likely to fail. My consultants all tell me that in their medical opinion my illness will not get the better of me but they won’t put that in writing. Insurers won’t give me life insurance without confirmation from a Consultant and even if they did it would most likely result in a highly weighted premium. I have a physical disability and must live in a bungalow, meaning higher house price. No win situation.

Sure that your situation is not easy, I just wanted to tell you what happened to us. My husband has two medical conditions, that will never go away, he’s in treatment for years and will be for the rest of his life. We told the truth to the insurance ( not that we had much choice) they said to bring Gp letter confirming the last two years situation and then that he will eventually have to go through an video interview with the nurse form Utmost. GP wrote that he haven’t had any acute situation or recovery in the last two years, without going into detail, but that was true. They accepted to insure us. In the worst case, They would accept me only and he would look somewhere else. That would be expensive sure, but the only way to get the Mortagage. I hope that you will have success as well. good luck!

worlds goodest teecher · 22-09-2019 9:00pm

It’s a real pain. My consultants express their confidence to me that this illness (benign growth) will not comeback and I have had no reoccurrence in ten years, it is effectively dead but still present. If I had had cancer and been clear for the same length of time I am lead to believe that I would be able to obtain insurance.

I think that if you don’t have life insurance when applying for RIHL you have to use their insurer, cannot remember the name of the insurer the Council mentioned.

I had a deposit on a house 15 years ago and applied through Permanent TSB, was refused life insurance but they accepted the refusal. Sale didn’t go through in the end so didn’t draw down mortgage.

Niallfarrell11 · 23-09-2019 6:19pm

Has anyone had an issue with offering extra on the purchase over €320,000? As in offering an extra €5,000 for contents?

kbman · 23-09-2019 7:32pm

Niallfarrell11 wrote: »

Has anyone had an issue with offering extra on the purchase over €320,000? As in offering an extra €5,000 for contents?

Is this a second hand house for 325k where you're trying to split the costs in 2 so it meets the criteria?
Or a new build of 320k where you'll an need an extra 5k for flooring etc?

scabo33 · 24-09-2019 5:37pm

Has anyone here been rejected and appealed? We have been told that the committee meeting may reject ours based on ability to repay. We handed in statement showing savings of 1500 a month and are looking for a 800 euro a month mortgage. Not really fair is it?

Shanvp · 24-09-2019 6:04pm

Niallfarrell11 wrote: »

Has anyone had an issue with offering extra on the purchase over €320,000? As in offering an extra €5,000 for contents?

We did this, not had a problem as of yet. As long as the house value (when you get your house valuation done) doesn't exceed 320,000. We just asked the estate agent to invoice us seperately for the extra €5,000, they didn't have a problem with this.

Shanvp · 24-09-2019 6:11pm

Hi all,

We are in the final stages of drawing down and closing sale. However our solicitor was told by Fingal co. Council that they needed a 3 week notice period before they can release the cheque. Has anyone else gone through this? The waiting is never ending ðŸ˜©

Laurazal · 24-09-2019 6:21pm

Shanvp wrote: »

We did this, not had a problem as of yet. As long as the house value (when you get your house valuation done) doesn't exceed 320,000. We just asked the estate agent to invoice us seperately for the extra €5,000, they didn't have a problem with this.

Did you buy newly built house? Were you able to sort everything out within the 6 month mortgage approval term?

Shanvp · 24-09-2019 6:33pm

Laurazal wrote: »

Did you buy newly built house? Were you able to sort everything out within the 6 month mortgage approval term?

Yes it's a new build, we are now in the closing stage, just been told by Fingal Co. Council that they need a 3 week notice period before drawdown, which is crazy. But to answer your question, as long as you go sale agreed within the 6 month period, you don't need to worry about getting the keys within that time frame.

Laurazal · 24-09-2019 8:12pm

Shanvp wrote: »

Yes it's a new build, we are now in the closing stage, just been told by Fingal Co. Council that they need a 3 week notice period before drawdown, which is crazy. But to answer your question, as long as you go sale agreed within the 6 month period, you don't need to worry about getting the keys within that time frame.

Thank you. That's re-assuring. 6 months is a very short time to buy a house. I was worried if buying a new built that has not been finished yet is feasible with RI mortgage.

kbman · 24-09-2019 9:13pm

Shanvp wrote: »

We did this, not had a problem as of yet. As long as the house value (when you get your house valuation done) doesn't exceed 320,000. We just asked the estate agent to invoice us seperately for the extra €5,000, they didn't have a problem with this.

That's great news, thanks for quick response to this. I was half expecting that we could do this, but wasn't sure what it was based off.

kbman · 24-09-2019 9:19pm

Shanvp wrote: »

Yes it's a new build, we are now in the closing stage, just been told by Fingal Co. Council that they need a 3 week notice period before drawdown, which is crazy. But to answer your question, as long as you go sale agreed within the 6 month period, you don't need to worry about getting the keys within that time frame.

Wow, i'm in the same position and was expecting we'd have to request an extension to something like 9 months. Already went sale agreed and haven't got the approval in Wicklow CC. And it's a new build too like yourself

How long did it take to get your approval in Fingal out of curiousity?

mtoutlemonde · 24-09-2019 9:42pm

Hi, I'm a self builder who has just submitted an application but after reading this thread, I probably won't be eligible as my house will be greater than 175 sq ft. Is there a case by case/appeal for this? There will be no problem with repayments and have deposit. Am I wasting my time? Anyone self build bigger than 175?

As an aside - my house was planned to be similar sized houses in my area whether that makes a difference or not. I also hadn't heard of rebuilding Ireland prior to planning and don't want to have to reduce house size and start planning process again.

Thanks

kbman · 24-09-2019 9:55pm

I presume you mean 175 sq metres and not 175 square foot.

I see this was asked in Dec 2018 and then same user asked why it was limited:
Have a search of the thread and you'll find the below conversation and more by brianmax88, i'd maybe contact him by PM if you can't see the answers.

brianmax88 wrote: »

Any one know why they are limiting the size of the house to 175m2? Like if a bigger house can be bought or built for less than 250000 what difference does it make?

Graham wrote: »

My guess, the scheme is designed to help people that otherwise wouldn't be able to afford a home. It's not designed to subsidise those that would prefer a larger home than they could otherwise afford/finance.

Rebuilding Ireland home loan

Comments