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Rebuilding Ireland home loan

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    #4712
    akelly02
    Registered Users Posts: 3,133 ✭✭✭akelly02


    https://www.boards.ie/discussion/comment/118877953#Comment_118877953

    does getting that AIP show up on your credit report with the CCR?



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    #4713
    waterfordgirl
    Registered Users Posts: 292 ✭✭waterfordgirl


    If it does it doesnt matter as far as i'm aware. They require you have applied else where before applying to them



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    #4714
    Iriah251
    Registered Users Posts: 28 ✭Iriah251


    Hi our local authority home loan went to the underwriters on the 28th of March in sdcc any idea how long it takes for them to get back to us? And regarding the health checks do u not just get a report from your gp?

    Thanks 😊



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    #4715
    waterfordgirl
    Registered Users Posts: 292 ✭✭waterfordgirl


    Got approval this morning.


    Fwiwi, @Iriah251 i applied in December



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    #4716
    akelly02
    Registered Users Posts: 3,133 ✭✭✭akelly02


    https://www.boards.ie/discussion/comment/118893957#Comment_118893957

    congratulations!!!



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    #4717
    Thistley
    Registered Users Posts: 49 ✭Thistley


    https://www.boards.ie/discussion/comment/118893957#Comment_118893957

    Congratulations! Hope the next steps go smoothly for you.



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    #4718
    Iriah251
    Registered Users Posts: 28 ✭Iriah251


    Congratulations, wow it took that long , did u apply to sdcc? What's your next step now?



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    #4719
    waterfordgirl
    Registered Users Posts: 292 ✭✭waterfordgirl


    No - Waterford.


    My next step is hope for a house within my budget (the one that was in my budget is currently taking bids, but bids are now over the 250k limit so me bueno)


    I've a salary review in May so will likely reapply then



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    #4720
    sunnyday22
    Registered Users Posts: 2 ✭sunnyday22


    Hi there,

    Does anybody know how long +/- takes to receive mortgage pack? We're at last stage where documents are with the law department and it's nearly 2 weeks now. Our solicitor didn't get it yet. I was hoping to sign the contracts before Easter

    It's Fingal CC



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    #4721
    noelledunne
    Registered Users Posts: 1 ✭noelledunne


    Can i ask for the cork county council loan- rebuilding ireland home did u have to pay the cork county council solicitors fees



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    #4722
    sunnyday22
    Registered Users Posts: 2 ✭sunnyday22



    https://www.boards.ie/discussion/comment/118917155#Comment_118917155

    Ok our solicitor got after 2 weeks

    Happy days!



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    #4723
    iColdFusion
    Registered Users Posts: 995 ✭✭✭iColdFusion


    https://www.boards.ie/discussion/comment/118877897#Comment_118877897

    Sorry if i'm being stupid but ive gone through all the info on the website for these Local authority mortgages and this proof of insufficient offer isn't clear to me, I have previous approvals from banks for 3.5 times income but that buys me very little, is this all they are asking for?

    I don't see how I could meet all the other Local Authority Mortgage criteria if a bank had flatly refused me a mortgage?



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    #4724
    optogirl
    Registered Users Posts: 2,975 ✭✭✭optogirl


    https://www.boards.ie/discussion/comment/118925514#Comment_118925514

    Yes you should be fine with those offers - as long as they are insufficient to buy a home you are good to go



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    #4725
    Jafin
    Registered Users Posts: 769 ✭✭✭Jafin


    https://www.boards.ie/discussion/comment/118925514#Comment_118925514

    As optogirl said above, yep that's fine. Banks don't flat out refuse you (at least I don't think they do), they just show you what you could get based on the information you give them. It's all explained VERY badly by the RIHL scheme because at the beginning I thought a bank literally had to say "no" to you to be eligible, but then found out it just wasn't explained properly by RIHL.

    To put it in simple terms, if a bank offers you a mortgage of €150,000 but you know you'll need €170,00, then that offer of €150,000 counts as an insufficient offer. (Numbers are made up just for use in the example)



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    #4726
    zapex123
    Registered Users Posts: 9 ✭zapex123


    Hi all,

    I applied to 3 councils in March. I got approval from one council yesterday. Will I likely be approved with the others? I'm really nervous because I have to move but the house prices are just soaring. I need as many options as possible. Thanks in advance



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    #4727
    _H80_GHT
    Registered Users Posts: 119 ✭✭_H80_GHT


    https://www.boards.ie/discussion/comment/118934413#Comment_118934413

    Yes, very likely you'll be approved by all 3 councils. I also had approval from 3 separate cc. That was a speedy turnaround for approval you got.

    Hope the 2 other approvals are not too far behind.



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    #4728
    zapex123
    Registered Users Posts: 9 ✭zapex123


    Thank you! Yes they were very quick. I'm so greatful. The banks wouldn't even consider me due to having children so thank goodness for this loan. I'm afraid I may be squeezed out of the market though 😕 There are fewer and fewer houses in my price range.


    Can I ask how long did it take to hear back from the other councils? Was there a big time difference? TIA

    Post edited by zapex123 on


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    #4729
    _H80_GHT
    Registered Users Posts: 119 ✭✭_H80_GHT


    It's a little while ago and I cannot give an exact timeframe. 8-10 weeks for all 3 councils is my guess.

    Yes, the market is getting worse by the month. What I found tough is seeing the kind of house you could afford in the year while saving and getting approval versus the kind of house you can afford by the time you're ready to bid.

    I would also advise reading the Utmost Insurance Group Scheme Document. This will tell you if you qualify for the insurance. It's so much more difficult & time consuming if you don't.



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    #4730
    zapex123
    Registered Users Posts: 9 ✭zapex123


    I'm still waiting on the approval from the council where I currently live. I found the perfect house that would suit my kids for school and sports etc. However, when I asked for an update the council said they gave my application to the housing agency mid April and haven't heard back yet. How long usually does it take once it goes to housing agency? Is that last step? I'm worried about missing out on this house



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    #4731
    optogirl
    Registered Users Posts: 2,975 ✭✭✭optogirl


    Hi guys - with regard to the house insurance - how do you note the council's interest in the home on same? Not sure how I go about that?



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    #4732
    Jemm
    Registered Users Posts: 53 ✭✭Jemm


    Hi there,


    Anyone apply to Galway city council? How long approx?



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    #4733
    zapex123
    Registered Users Posts: 9 ✭zapex123


    10 weeks for Galway city. Credit committee met today.



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    #4734
    jessimirish
    Registered Users Posts: 37 ✭jessimirish


    Hi there,

    Question about what happens after approval - my application is with the underwriters currently, I've applied to Dublin City Council, so fingers crossed I get approved. Hoping it'll come through in the next couple of weeks (LAHL).

    What happens next once approval comes? Can I start looking for a place straight away, or does anything else need to happen to confirm my approval afterwards?

    My big concern is that I am on the border of eligibility, a single applicant earning just under 65k. Will this be assessed again before drawdown? We sometimes have small mid-year bonuses, they are irregular though (we got a small one last year, but I still earned under 65k for the year, and then I didn't get one at all in 2020). My worry is that if I do get a mid-year bonus it could tip me just slightly over the 65k, so I'm wondering if they will check everything again at the drawdown stage.

    What happens once you go sale agreed? Is there any more eligibility assessment after that? What are the next steps? Interested to hear from someone who has been through the whole process.



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    #4735
    Jemm
    Registered Users Posts: 53 ✭✭Jemm


    https://www.boards.ie/discussion/comment/119024529#Comment_119024529

    Fingers crossed 🤞🤞🤞



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    #4736
    zapex123
    Registered Users Posts: 9 ✭zapex123


    https://www.boards.ie/discussion/comment/119038995#Comment_119038995

    Good luck! You will probably get a letter in the mail. I've been waiting at the door every day for the postman, like a dog. First approval letter I got was like winning the lottery 😅



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    #4737
    Jemm
    Registered Users Posts: 53 ✭✭Jemm


    Haha...I've been eyeing the postman every morning in case he has a letter!



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    #4738
    zapex123
    Registered Users Posts: 9 ✭zapex123


    I have a query if anyone can help me. My brother transferred some money to my account (nothing to do with house purchase). I know the council look for updated statements so I have an email from transferwise confirming who sent the money to me and my brother has sent me an email explaining what the money is for. Will this be enough information for the council when i submit updated statements? Or should I get a letter?



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    #4739
    akelly02
    Registered Users Posts: 3,133 ✭✭✭akelly02


    that should be fine once theres an explanation.



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    #4740
    89char9
    Registered Users Posts: 18 ✭89char9


    Hi, after applying i was given some money to help with solicitors fees, moving costs etc. Do I need a deed of confirmation or is a gift letter good enough? Thanks



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    #4741
    Jafin
    Registered Users Posts: 769 ✭✭✭Jafin


    https://www.boards.ie/discussion/comment/119091598#Comment_119091598

    Gift letter should be fine, but it's always best to double check with the council just in case. Quick phone call should give you confirmation one way or the other.



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