Rebuilding Ireland home loan

Evenstevens · 23-05-2019 10:43am

I think I know the answer to this but I'm afraid to ask CoCo. I assume if you are approved for this scheme it is only based on your salary at the current time of application? Like you wouldn't be stopped from going for promotion down the line or getting a better higher paying job?

Milenauno · 23-05-2019 10:52am

Evenstevens wrote: »

I think I know the answer to this but I'm afraid to ask CoCo. I assume if you are approved for this scheme it is only based on your salary at the current time of application? Like you wouldn't be stopped from going for promotion down the line or getting a better higher paying job?

I actually did asked that question as I am expecting to be promoted soon. I am in civil service and I passed selection for promotion. In this case, i will be in probation for another year but for higher position only, not for employment in general as I am there for years now. That’s a bit tricky now. When I asked, they said that I’ll need to submit up to date pay-slips before final approval so that if something changed, I’ll need new salary certificate saying that I am not in probation and amount needs to be recalculated.

xxsammyxx085 · 23-05-2019 11:18am

Hi everyone I'm new to this thread and just had a query I was wondering if anyone might be able to help me with, my husband has a basic salary of 29k and I work part time with a salary of 11k. Now, I'm also a full time carer for my son who has autism and get a carers and domicellery allowance based on this. I know rebuilding Ireland wl not take this as guaranteed income, but does anybody think that they will even note it on the application to help our chances (will also be handing back a local authority house to somebody that needs it)

Evenstevens · 23-05-2019 11:54am

Milenauno wrote: »

I actually did asked that question as I am expecting to be promoted soon. I am in civil service and I passed selection for promotion. In this case, i will be in probation for another year but for higher position only, not for employment in general as I am there for years now. That’s a bit tricky now. When I asked, they said that I’ll need to submit up to date pay-slips before final approval so that if something changed, I’ll need new salary certificate saying that I am not in probation and amount needs to be recalculated.

Ok. For me I've no current prospects of moving up or moving jobs even but just thinking say 5 years down the line if I did change they couldn't come back and have an issue at that stage surely? They can't tie you to a job for the rest of your life as such.

Milenauno · 23-05-2019 12:13pm

Evenstevens wrote: »

Ok. For me I've no current prospects of moving up or moving jobs even but just thinking say 5 years down the line if I did change they couldn't come back and have an issue at that stage surely? They can't tie you to a job for the rest of your life as such.

No, you can change job anytime after you get a keys.

GF2013 · 23-05-2019 1:28pm

Question for anybody who’s already drawn down please??? Is the loan pack they send just the loan offer letter and the acceptance form we need to have signed in presence of solicitor? Our solicitor said there should be other documents sent to him and won’t meet us until he receives them, council not returning our call to clarify and we want to get the ball rolling!

Laurazal · 23-05-2019 3:10pm

GF2013 wrote: »

Question for anybody who’s already drawn down please??? Is the loan pack they send just the loan offer letter and the acceptance form we need to have signed in presence of solicitor? Our solicitor said there should be other documents sent to him and won’t meet us until he receives them, council not returning our call to clarify and we want to get the ball rolling!

Can I just ask - how long was the whole process (I am just starting my application)?

GF2013 · 23-05-2019 3:20pm

Laurazal wrote: »

Can I just ask - how long was the whole process (I am just starting my application)?

It’s a long process! We applied in Jan 2918, took 10 weeks waiting, were refused on grounds of not having shown 12 months savings, even though we had them but not in a dedicated savings account. Appealed and we were refused again, took about six weeks for that refusal letter. Then we reapplied in Jan this yr and got approval letter end of February. Sale agreed since beginning March and from what I’ve heard we’ve about four more wks to go!

Laurazal · 23-05-2019 3:23pm

GF2013 wrote: »

It’s a long process! We applied in Jan 2918, took 10 weeks waiting, were refused on grounds of not having shown 12 months savings, even though we had them but not in a dedicated savings account. Appealed and we were refused again, took about six weeks for that refusal letter. Then we reapplied in Jan this yr and got approval letter end of February. Sale agreed since beginning March and from what I’ve heard we’ve about four more wks to go!

I am glad you are getting there now. I am only still gathering my docs plus applying to banks for mortgages to get that needed letter from them

potepp · 23-05-2019 7:05pm

Hi all.
we have been approved by Cork CoCo, currently stuck with the council who are requesting a report from a Chartered Engineer even though we have already provided Engineers report with Forms 1, 2, 3 (as the report is requested with these forms (or so we believe)).
Unfortunately I didn't make a copy before sending those back so I have no proof that the CoCo has already requested this report.
Would someone here have Form 1, 2, 3 handy and be willing to share those, please?
It would save us a lot of hassle and potentially money if the request for eng report is there.

Thanks a lot,
Peter

Jmk725 · 24-05-2019 9:07am

potepp wrote: »

Hi all.
we have been approved by Cork CoCo, currently stuck with the council who are requesting a report from a Chartered Engineer even though we have already provided Engineers report with Forms 1, 2, 3 (as the report is requested with these forms (or so we believe)).
Unfortunately I didn't make a copy before sending those back so I have no proof that the CoCo has already requested this report.
Would someone here have Form 1, 2, 3 handy and be willing to share those, please?
It would save us a lot of hassle and potentially money if the request for eng report is there.

Thanks a lot,
Peter

Hey Peter, private message me your email address and I will send on a copy of my Forms 1-3 if you want.
I can tell you that Form 3 says to return the engineers report with Form 3 though.

potepp · 24-05-2019 9:11am

Jmk725 wrote: »

Hey Peter, private message me your email address and I will send on a copy of my Forms 1-3 if you want.
I can tell you that Form 3 says to return the engineers report with Form 3 though.

pm sent. thank you!

delkel38 · 24-05-2019 3:49pm

Quick update from me.
After 1 year as of today we have received our first drawdown for our self build. It's been a long hard drawn out process but we persisted.
So anyone thinking of using this so called re-building Ireland Home Loan for self build it's possible. Having taken so long to process my contingency has gone due to cost of construction going up since application.
On the upside were very happy ðŸ˜႒

GF2013 · 24-05-2019 7:16pm

Laurazal wrote: »

I am glad you are getting there now. I am only still gathering my docs plus applying to banks for mortgages to get that needed letter from them

Best of luck! Start meditating! You’ll need it for the patience!!!

GF2013 · 24-05-2019 7:20pm

xxsammyxx085 wrote: »

Hi everyone I'm new to this thread and just had a query I was wondering if anyone might be able to help me with, my husband has a basic salary of 29k and I work part time with a salary of 11k. Now, I'm also a full time carer for my son who has autism and get a carers and domicellery allowance based on this. I know rebuilding Ireland wl not take this as guaranteed income, but does anybody think that they will even note it on the application to help our chances (will also be handing back a local authority house to somebody that needs it)

Have you clarified that they won’t accept it?? You might still be ok on the income you have without it too though!!! Make sure you have the 12 months rent/savings, regularly each month. And make sure your accounts are clean ie no “lavish” spending etc

jjames.mmurphy · 24-05-2019 9:47pm

We have approval in principle. Going down the self build road. Can we opt out of the BCMS? Does anyone know. Want to submit commencement notice ASAP.

delkel38 · 24-05-2019 10:24pm

jjames.mmurphy wrote: »

We have approval in principle. Going down the self build road. Can we opt out of the BCMS? Does anyone know. Want to submit commencement notice ASAP.

Yes no problem with opt out. Be careful though we were approved in principle ,started building only then to be told we're not eligible. Are you within the size limit and other rules?. We appealed and got there only this week.

jjames.mmurphy · 24-05-2019 10:47pm

delkel38 wrote: »

Yes no problem with opt out. Be careful though we were approved in principle ,started building only then to be told we're not eligible. Are you within the size limit and other rules?. We appealed and got there only this week.

Within the size. Yes. So that's not a prob. What are the other rules?? Did you have a contractor or direct labour ? Also, did your engineer submit your commencement order or did you.

delkel38 · 24-05-2019 10:56pm

jjames.mmurphy wrote: »

Within the size. Yes. So that's not a prob. What are the other rules?? Did you have a contractor or direct labour ? Also, did your engineer submit your commencement order or did you.

Just so long as you satisfied all the Ri loan requirements you'll be fine. I went direct labour and submitted commencement myself. Your engineer might do it or guide you through it just take your time and it's not a problem.

jjames.mmurphy · 24-05-2019 11:36pm

delkel38 wrote: »

Just so long as you satisfied all the Ri loan requirements you'll be fine. I went direct labour and submitted commencement myself. Your engineer might do it or guide you through it just take your time and it's not a problem.

Yeah. I'm mad go get the comm order in. Where or how did u do it. Did u have to upload your drawings ?

delkel38 · 24-05-2019 11:47pm

jjames.mmurphy wrote: »

Yeah. I'm mad go get the comm order in. Where or how did u do it. Did u have to upload your drawings ?

Localgov.ie follow instructions. Upload dwgs etc probably better get advice from your engineer to be safe. Best of luck

xxsammyxx085 · 24-05-2019 11:57pm

GF2013 wrote: »

Have you clarified that they won’t accept it?? You might still be ok on the income you have without it too though!!! Make sure you have the 12 months rent/savings, regularly each month. And make sure your accounts are clean ie no “lavish” spending etc

Yeah I have asked them they wont accept it, I think we have everything else in order, just about to start filling the forms out

Jamesiekel · 27-05-2019 10:40am

I'm with South Dublin County Council and have received my reference number and the guy in the office said my application has gone to the underwriters. Any idea when I should hear something back?

DamoNolan · 27-05-2019 8:19pm

I'm waiting for final approval but I'm just wondering what the next step is once I get it.im with fingal coco.thanks

jjames.mmurphy · 27-05-2019 8:51pm

Can you defiantly opt out of BCMS with the RI Loan?

Evenstevens · 28-05-2019 7:55am

DamoNolan wrote: »

I'm waiting for final approval but I'm just wondering what the next step is once I get it.im with fingal coco.thanks

Do you mean final approval as in them saying that they'll give you a loan or are you further on?

DamoNolan · 28-05-2019 8:59am

Evenstevens wrote: »

Do you mean final approval as in them saying that they'll give you a loan or are you further on?

I'm currently waiting on the final approval have mortgage protection sorted.but waiting on them to issue the letter to me but just wondering what's next after that thanks

Evenstevens · 28-05-2019 9:02am

DamoNolan wrote: »

I'm currently waiting on the final approval have mortgage protection sorted.but waiting on them to issue the letter to me but just wondering what's next after that thanks

Have you found a house yet?

DamoNolan · 28-05-2019 9:04am

Evenstevens wrote: »

Have you found a house yet?

Yes sale agreed got valuation and all that done.went for second interview and was told the final approval should be issue in about 2 week

Evenstevens · 28-05-2019 10:07am

DamoNolan wrote: »

Yes sale agreed got valuation and all that done.went for second interview and was told the final approval should be issue in about 2 week

Ah ok sorry can't help you. Just dropped all my docs back to the council-survey etc so I'm kind of at a similar point. My loan pack has to go out to my solicitor now so I think that will take some time.... DCC don't seem to do interviews at all....

Rebuilding Ireland home loan

Comments