Rebuilding Ireland home loan

13-06-2021 12:23pm

deise121 wrote: »

Yeah, that’s how it works. Doesn’t matter if sales fall through. 6 months to buy a home from approval

At what point have you "bought a home"? Is it when you officially go sale agreed with the estate agent? Do you just ring up the Council then and tell them, and the clock stops and such?

Or is it a case that you have 6 months.. but really you only have 3 months because you have to have contracts signed and such before the 6 months elapses?

deise121 · 13-06-2021 7:05pm

Deleted User wrote: »

At what point have you "bought a home"? Is it when you officially go sale agreed with the estate agent? Do you just ring up the Council then and tell them, and the clock stops and such?

Or is it a case that you have 6 months.. but really you only have 3 months because you have to have contracts signed and such before the 6 months elapses?

once you're sale agreed i believe it the clock stops so to speak

Lauren52 · 14-06-2021 7:59am

deise121 wrote: »

once you're sale agreed i believe it the clock stops so to speak

This is not the case.

It's from date of AIP.

Then if you go over and have already found a place you can apply for a 3mt extension.

Jafin · 14-06-2021 10:14am

Lauren52 wrote: »

This is not the case.

It's from date of AIP.

Then if you go over and have already found a place you can apply for a 3mt extension.

That's not what I was told. My council told me that once I've found the property and gone sale agreed the clock essentially stops. Obviously this is within reason and they're not gonna hang around for two years or anything, but you definitely don't have to go from AIP to being in the house all in the same 6 month period. Nobody ever mentioned a 3 month extension to me. Then again all the councils operate differently.

LaurenMcHugh · 14-06-2021 4:39pm

Wondering if anyone could advise to which MPI outside of coco they went with after refusal. I had bad smear results last year and got treatment and am currently awaiting results on follow up smear. My wife also takes medication for anxiety , we’re waiting to see if she has been refused or not. Thanks

Lauren52 · 14-06-2021 9:48pm

We are just moving into our house, we were AIP on 18th of Nov, signed contracts in January, had to apply for extension the week before 18th of May even though we were closing sale the week after.

We are Kildare

15-06-2021 1:19pm

I just sent my application into Louth County Council this morning. Chatted to one of the women from the Council on the phone yesterday.

I've had many, many run ins with Louth County Council, and would regard them as being quite possibly the single biggest waste of space and resources known to this island. Their housing section, and general budget management, is farcically bad.

However, this woman who works there in respect of the Rebuilding Ireland loan (I'm sure she does other stuff, too, so I'm not sure what her actual title would be), was such a breath of fresh air. She rang me back almost immediately after missing my call to her, she answered loads of questions, gave lots of info, and on top of that, much to my shock (especially after hearing how badly Meath CoCo are managing the RI scheme) she informed me that they accept RI applications by post, once you've spoke to someone, and they give you an AIP amount in about 6-8 weeks.

(Whereas Meath, on the other hand, a stones throw away, make you apply in-person, and the next available dates, just to actually apply, are in December!).

So if Louth CoCo can get an AIP to me in 6-8 weeks, I'll be very, very impressed.

(You'd want to see my application though.. it was like a long, boring, book going into them. Must have been about 100 pages).

DonnieCorko · 15-06-2021 1:34pm

Was anyone able to successfully apply for a RI mortgage with less than 1 year continuous savings?

rob316 · 15-06-2021 5:44pm

I was talking to someone randomly about mortgages and they were telling me one developer wouldn't accept them for a new build as they said RI loan takes too long from AIP to drawdown. Anyone else hear something like that?

optogirl · 16-06-2021 9:51am

rob316 wrote: »

I was talking to someone randomly about mortgages and they were telling me one developer wouldn't accept them for a new build as they said RI loan takes too long from AIP to drawdown. Anyone else hear something like that?

yes - one vendor didn't want to go with us because DCC takes too long

rob316 · 16-06-2021 10:52am

optogirl wrote: »

yes - one vendor didn't want to go with us because DCC takes too long

Hoped that wasn't true

It's really not fit for purpose this scheme if that's happening.

GizmoIE · 16-06-2021 3:16pm

I just realize that Singles is garbage for our government.
I am not sure what the salary in average for the Singles in Dublin, but I don't think that it will be more than 35k even probably less? I understand that it is great that they giving such support, but where I can spend those 150k (which they offer at 32k) for the new property? i need to have at least a 30% deposit. maybe somewhere in Donegal county

well for me it is not a problem to move there

but not for my company office:)

Antho12 · 16-06-2021 7:42pm

GizmoIE wrote: »

I just realize that Singles is garbage for our government.
I am not sure what the salary in average for the Singles in Dublin, but I don't think that it will be more than 35k even probably less? I understand that it is great that they giving such support, but where I can spend those 150k (which they offer at 32k) for the new property? i need to have at least a 30% deposit. maybe somewhere in Donegal county well for me it is not a problem to move there but not for my company office:)

I’m single under 35K and DCC offered me 5x my income, I did have about 30% deposit and purchased a 1 bedroom apartment in the city centre, which is exactly what I wanted after 15 years renting in shared accommodations and I wouldn’t have been able to do this the traditional way with banks. So unless you’re looking for a 3 bed semi detached in Dublin, the scheme can work for singles.

jill_valentine · 16-06-2021 8:53pm

Antho12 wrote: »

I’m single under 35K and DCC offered me 5x my income, I did have about 30% deposit and purchased a 1 bedroom apartment in the city centre, which is exactly what I wanted after 15 years renting in shared accommodations and I wouldn’t have been able to do this the traditional way with banks. So unless you’re looking for a 3 bed semi detached in Dublin, the scheme can work for singles.

How long ago, if you don't mind me asking?

Antho12 · 16-06-2021 9:04pm

jill_valentine wrote: »

How long ago, if you don't mind me asking?

I got AIP in November last year and drawdown in January this year.

deise121 · 17-06-2021 8:13am

GizmoIE wrote: »

I just realize that Singles is garbage for our government.
I am not sure what the salary in average for the Singles in Dublin, but I don't think that it will be more than 35k even probably less? I understand that it is great that they giving such support, but where I can spend those 150k (which they offer at 32k) for the new property? i need to have at least a 30% deposit. maybe somewhere in Donegal county well for me it is not a problem to move there but not for my company office:)

Try having 5 children and a wife that can’t work because 2 of them have special needs. Not one bank would look at us and at that, the RIHL doesn’t count her carers allowance as an income yet she’ll be getting it for at least the next 15 years. It’s criminal

Karis · 17-06-2021 9:08am

rob316 wrote: »

I was talking to someone randomly about mortgages and they were telling me one developer wouldn't accept them for a new build as they said RI loan takes too long from AIP to drawdown. Anyone else hear something like that?

Yes, we were refused. The builder said they had two cases with council mortgages and it didn't work, the people didn't get funding in the end. So the builder didn't wanted to pit him self at risk and prefers to go with the bank. Plus Meath Co. Co. gives the formal loan package only after the valuation is done on the house fully build and fitted. And the builder wont let you to sign the contract only with AIP. Other counties are different, you can by of the plans easily.

jill_valentine · 17-06-2021 9:18am

Antho12 wrote: »

I got AIP in November last year and drawdown in January this year.

Blimey. Suppose that's a mark of how quickly things changed, I'm just under 35k a year and was hoping to get a single bed in Tallaght or Finglas when I started RI applications. At this stage I'm probably going to wind up leaving Dublin county and buying with a bank mortgage in the midlands.

Edit - sorry, should have said, congratulations!

Karis · 17-06-2021 9:20am

Deleted User wrote: »

I just sent my application into Louth County Council this morning. Chatted to one of the women from the Council on the phone yesterday.

I've had many, many run ins with Louth County Council, and would regard them as being quite possibly the single biggest waste of space and resources known to this island. Their housing section, and general budget management, is farcically bad.

However, this woman who works there in respect of the Rebuilding Ireland loan (I'm sure she does other stuff, too, so I'm not sure what her actual title would be), was such a breath of fresh air. She rang me back almost immediately after missing my call to her, she answered loads of questions, gave lots of info, and on top of that, much to my shock (especially after hearing how badly Meath CoCo are managing the RI scheme) she informed me that they accept RI applications by post, once you've spoke to someone, and they give you an AIP amount in about 6-8 weeks.

(Whereas Meath, on the other hand, a stones throw away, make you apply in-person, and the next available dates, just to actually apply, are in December!).

So if Louth CoCo can get an AIP to me in 6-8 weeks, I'll be very, very impressed.

(You'd want to see my application though.. it was like a long, boring, book going into them. Must have been about 100 pages).

Not true about Meath Co.Co. We applied by post last November, got AIP in 5-6 weeks, right before Xmas. We will be reapplying again soon since 6 month are over now. We've been told to do it by post, or alternatively you can drop it in their office. Try again, you should be able to apply sooner. Email probably even better, you not always can get them on the phone. They still working partially from home.

GizmoIE · 17-06-2021 9:38am

deise121 wrote: »

Try having 5 children and a wife that can’t work because 2 of them have special needs. Not one bank would look at us and at that, the RIHL doesn’t count her carers allowance as an income yet she’ll be getting it for at least the next 15 years. It’s criminal

i can not imagine how hard it is, but yes in some reason we have @extremes@, looks like only "Classic" Family can afford something with no thinking about some extras and with not meeting any issues. M+F+2childrens.

Antho12 wrote: »

I got AIP in November last year and drawdown in January this year.

And how old was the building? as for the last, I think, 10 months, there was nothing for less than 240k for 1bed. in Dublin area. but anyway gratz man

optogirl · 17-06-2021 9:43am

Preparing our second application and honestly the word deflated doesn't even begin to describe it. First time round we were enthusiastic and hopeful, this time we're doing it, in the full knowledge that even if we are awarded the full amount we just wont be able to buy a house. It's a rotten feeling. Husband says he can't even look at myhome.ie anymore - too depressing.

Karis · 17-06-2021 10:38am

optogirl wrote: »

Preparing our second application and honestly the word deflated doesn't even begin to describe it. First time round we were enthusiastic and hopeful, this time we're doing it, in the full knowledge that even if we are awarded the full amount we just wont be able to buy a house. It's a rotten feeling. Husband says he can't even look at myhome.ie anymore - too depressing.

That's exactly how we feel, we'll be re-applying next week...but there is less and less hope...

Antho12 · 17-06-2021 12:18pm

And how old was the building? as for the last, I think, 10 months, there was nothing for less than 240k for 1bed. in Dublin area. but anyway gratz man

Asking price was 200, I purchased it for less than 240, it needed some work but nothing major. The building is recent enough, early Celtic tiger.

jill_valentine wrote: »

Blimey. Suppose that's a mark of how quickly things changed, I'm just under 35k a year and was hoping to get a single bed in Tallaght or Finglas when I started RI applications. At this stage I'm probably going to wind up leaving Dublin county and buying with a bank mortgage in the midlands.

Edit - sorry, should have said, congratulations!

Thanks, prices did go up for sure but keep looking you never know. Good luck

akelly02 · 17-06-2021 12:21pm

deise121 wrote: »

Try having 5 children and a wife that can’t work because 2 of them have special needs. Not one bank would look at us and at that, the RIHL doesn’t count her carers allowance as an income yet she’ll be getting it for at least the next 15 years. It’s criminal

not allowing carers ,ie a long term payment is a fuucking joke.

deise121 · 17-06-2021 5:51pm

akelly02 wrote: »

not allowing carers ,ie a long term payment is a fuucking joke.

Massive joke. Especially people in circumstances like ours as our children will need care for the rest of their lives so she’ll be getting carers when they’re older

crashbang1 · 18-06-2021 3:36pm

Another question about timelines:

I've submitted the engineers report & valuation docs for the house to Galway CoCo and been told that the building inspector has to sign off on the house and then the credit committee will review.

Can anybody give me a rough idea of what kind of time frame to expect? the person in the council was very nice but wouldn't give any timeframes.

19-06-2021 12:19pm

Karis wrote: »

Not true about Meath Co.Co. We applied by post last November, got AIP in 5-6 weeks, right before Xmas. We will be reapplying again soon since 6 month are over now. We've been told to do it by post, or alternatively you can drop it in their office. Try again, you should be able to apply sooner. Email probably even better, you not always can get them on the phone. They still working partially from home.

Well I'm not in Meath myself, and haven't applied to them.

However, I am a member of a 'first time buyer' page on facebook, and between people posting there, and also posts here on boards, a couple of different people have mentioned contacting Meath CoCo and being told they have to attend a meeting with their application, and they were given dates in mid-December.

What you're describing seems to tally up with my experience (well, what I've been told will be my experience) with Louth CoCo.

DonnieCorko · 19-06-2021 8:38pm

Antho12 wrote: »

I’m single under 35K and DCC offered me 5x my income, I did have about 30% deposit and purchased a 1 bedroom apartment in the city centre, which is exactly what I wanted after 15 years renting in shared accommodations and I wouldn’t have been able to do this the traditional way with banks. So unless you’re looking for a 3 bed semi detached in Dublin, the scheme can work for singles.

I didn't know they would do more than the 4.5 on the calculator. Any other special circumstances besides the 30% deposit? Did you have many years savings records for example? Thanks!

helldesign · 20-06-2021 6:16pm

Does it matter where I send my application and should the Council be near the area where I plan to look for a property?
For example if I apply to the South Dublin County Council, can I look into properties in the north part of the city or even in a different county?

Thanks.

Karis · 21-06-2021 9:04am

helldesign wrote: »

Does it matter where I send my application and should the Council be near the area where I plan to look for a property?
For example if I apply to the South Dublin County Council, can I look into properties in the north part of the city or even in a different county?

Thanks.

Yes, it does. You should apply to where you're going to buy. You can apply to several counties to widen your area. But the property should be the same county you're applying.

Antho12 · 21-06-2021 9:06am

DonnieCorko wrote: »

I didn't know they would do more than the 4.5 on the calculator. Any other special circumstances besides the 30% deposit? Did you have many years savings records for example? Thanks!

I did save for many years but sent them only a year of bank statements. What helped in my opinion is that during the 6 months prior to applying I was on a very strict budget and was spending the exact same amount every month for all my expenses. So by the time I applied, my current account statements showed only 5 debits every month for 6 months: rent (including bills), savings, 2 direct debits and the same lump sum going to revolut for my monthly expenses (groceries, Amazon, etc). It’s a bit drastic but it was during the first lockdown so I was spending a lot less money anyway.

jill_valentine · 21-06-2021 10:16am

helldesign wrote: »

Does it matter where I send my application and should the Council be near the area where I plan to look for a property?
For example if I apply to the South Dublin County Council, can I look into properties in the north part of the city or even in a different county?

Thanks.

No, it's a bit of a pain in the arse for Dublin in particular - you can only buy in the catchment of the council who approves your loan. That means for Dublin you probably have to apply to the three different councils and SDCC in particular takes 6+ months to approve.

You can only apply to four councils at most iirc too

Darkglasses · 21-06-2021 4:04pm

jill_valentine wrote: »

No, it's a bit of a pain in the arse for Dublin in particular - you can only buy in the catchment of the council who approves your loan. That means for Dublin you probably have to apply to the three different councils and SDCC in particular takes 6+ months to approve.

You can only apply to four councils at most iirc too

I don't think there's any limit on the number of councils you can apply to.

helldesign · 21-06-2021 4:47pm

Karis wrote: »

Yes, it does. You should apply to where you're going to buy. You can apply to several counties to widen your area. But the property should be the same county you're applying.

jill_valentine wrote: »

No, it's a bit of a pain in the arse for Dublin in particular - you can only buy in the catchment of the council who approves your loan. That means for Dublin you probably have to apply to the three different councils and SDCC in particular takes 6+ months to approve.

You can only apply to four councils at most iirc too

Hmm that's unfortunate. After long wait I received my salary certificate, but got only one copy. I wonder if the councils will accept certified copies?

Karis · 22-06-2021 8:42am

helldesign wrote: »

Hmm that's unfortunate. After long wait I received my salary certificate, but got only one copy. I wonder if the councils will accept certified copies?

County will accept just a regular copy. We submitted to 3 different counties no problems.

helldesign · 22-06-2021 11:54am

Thanks for your help!

jill_valentine · 22-06-2021 12:18pm

Darkglasses wrote: »

I don't think there's any limit on the number of councils you can apply to.

I stand corrected. Not sure where I got that idea, I was full sure of it

Carrot18 · 22-06-2021 12:55pm

Hi Does anyone know how many days before DCC issue check from solicitors requesting for drawdown till they send in the cheque? TIA

janandbren · 22-06-2021 7:32pm

Antho12 wrote: »

I’m single under 35K and DCC offered me 5x my income, I did have about 30% deposit and purchased a 1 bedroom apartment in the city centre, which is exactly what I wanted after 15 years renting in shared accommodations and I wouldn’t have been able to do this the traditional way with banks. So unless you’re looking for a 3 bed semi detached in Dublin, the scheme can work for singles.

Antho, do you mind me asking did you ask for 5 times your salary, or had you asked for max available? We are applying but looking to buy our landlords house, that we are renting 12 years. However we will need about 5.1 times salary, but we have our deposit, about 20% , showing great affordability and no other loans or outgoings.

Antho12 · 23-06-2021 10:42am

janandbren wrote: »

Antho, do you mind me asking did you ask for 5 times your salary, or had you asked for max available? We are applying but looking to buy our landlords house, that we are renting 12 years. However we will need about 5.1 times salary, but we have our deposit, about 20% , showing great affordability and no other loans or outgoings.

I actually asked for a bit more and they offered 7K less than the figure I entered. Good luck

deise121 · 23-06-2021 10:59am

anyone else who have applied to waterford, how long was the wait for you? about 6 weeks ago i got an email stating the application was with the underwriter and would hear back in a number of weeks. so far, nothing yet

23-06-2021 12:05pm

Does anyone else find it frustrating that the RI website lists a contact number, which tells you to use the online chat on the website, but the website doesn't have a chat function.

Why not just take the contact number down and tell people to contact their councils instead. Irritating.

jill_valentine · 23-06-2021 12:11pm

[Deleted User] wrote: »

Does anyone else find it frustrating that the RI website lists a contact number, which tells you to use the online chat on the website, but the website doesn't have a chat function.

Why not just take the contact number down and tell people to contact their councils instead. Irritating.

This is a weird thing - the website does have a chat function, but it only works on certain browsers/devices etc. I can't get it to work on my laptop at home but for some reason it works on my work PC?!

cgxct · 23-06-2021 12:19pm

Did anyone else’s application take ages at the housing agency? It’s been nearly 6 weeks and Wicklow coco said they will update us when they hear anything but it seems to be dragging? Did anyone have a similar experience?

23-06-2021 1:13pm

jill_valentine wrote: »

This is a weird thing - the website does have a chat function, but it only works on certain browsers/devices etc. I can't get it to work on my laptop at home but for some reason it works on my work PC?!

Can I ask how you've accessed it? On my desktop I've tried chrome and Firefox and on my Samsung phone I've used Samsungs browser and chrome. Hasn't shown up on any of those for me unfortunately.

ED E · 23-06-2021 1:16pm

jill_valentine wrote: »

This is a weird thing - the website does have a chat function, but it only works on certain browsers/devices etc. I can't get it to work on my laptop at home but for some reason it works on my work PC?!

It'll appear during office hours I think you'll find. When you're home they're home.

rachaelf750 · 23-06-2021 4:02pm

ED E wrote: »

It'll appear during office hours I think you'll find. When you're home they're home.

Check the bottom left on the screen, and change the functions to allow chat.

23-06-2021 4:25pm

rachaelf750 wrote: »

Check the bottom left on the screen, and change the functions to allow chat.

That's fixed it. I'm annoyed at them for making that 'off' by default, and annoyed at myself for never noticing it.

janandbren · 24-06-2021 7:25pm

Does anyone know what to include with application if you are getting a gift from parents? We have 12% of purchase price ourselves but we are getting an additional gift of 25k from parents. Can we just include letters from them until drawdown? We may not need the 25 by drawdown as we will have saved more but as for now would just written letters do or is there a template?

Lauren52 · 25-06-2021 7:27am

janandbren wrote: »

Does anyone know what to include with application if you are getting a gift from parents? We have 12% of purchase price ourselves but we are getting an additional gift of 25k from parents. Can we just include letters from them until drawdown? We may not need the 25 by drawdown as we will have saved more but as for now would just written letters do or is there a template?

Hi, I just included a letter from my dad saying he was gifting me money, then I also included a print out of his bank balance.

By the time it came around to approval (16mts - we applied in 2019 for Kildare and there was a huge back log) we did not need the gift there was no issue.

Rebuilding Ireland home loan

Comments