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21-11-2019, 06:25   #2086
JJ_2019
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Hi, I signed my loan acceptance 8 days ago, how long do I have to wait for loan draw down and what are the next steps I have to do after that? Can u please write me in detail?

Thanks


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Originally Posted by lauraITT View Post
Aparently KCC are drawing down my loan this Friday 22nd. Does anyone know what happens after that?

Went sale agreed 3 months ago and feeling like I am never going to be in the house.
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21-11-2019, 09:42   #2087
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I wish I could give you detail but honestly the next step is just to wait. I signed loan pack on 8th October, got sent back because my solicitor missed something on 23rd October. The council then asked me yet again for a 12 month history of all my bank accounts and a letter from my solicitor that states my financial situation has not changed. Also at this point I had to arrange house insurance and list KCC as interested party and send all those documents into them. That brings me to today where I am waiting for them to draw down the loan tomorrow. After that I have no clue what happens, never bought a house before and my solicitor is impossible to get through to, have been attempting to contact him since 1st Nov.
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21-11-2019, 10:14   #2088
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Thank u Laura, it's a hectic process ��



Quote:
Originally Posted by lauraITT View Post
I wish I could give you detail but honestly the next step is just to wait. I signed loan pack on 8th October, got sent back because my solicitor missed something on 23rd October. The council then asked me yet again for a 12 month history of all my bank accounts and a letter from my solicitor that states my financial situation has not changed. Also at this point I had to arrange house insurance and list KCC as interested party and send all those documents into them. That brings me to today where I am waiting for them to draw down the loan tomorrow. After that I have no clue what happens, never bought a house before and my solicitor is impossible to get through to, have been attempting to contact him since 1st Nov.

Last edited by Graham; 21-11-2019 at 10:17. Reason: quote fixing
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21-11-2019, 12:14   #2089
Marie2221
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Quote:
Originally Posted by givyjoe View Post
Tell me more, and would you like my debit card details or my savings in an envelope?
why would I need your banking information? I just wanted some information about it, someone told me to give me a loan of 15000 € and I wanted to know if it's possible.
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24-11-2019, 00:24   #2090
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Quote:
Originally Posted by lauraITT View Post
I wish I could give you detail but honestly the next step is just to wait. I signed loan pack on 8th October, got sent back because my solicitor missed something on 23rd October. The council then asked me yet again for a 12 month history of all my bank accounts and a letter from my solicitor that states my financial situation has not changed. Also at this point I had to arrange house insurance and list KCC as interested party and send all those documents into them. That brings me to today where I am waiting for them to draw down the loan tomorrow. After that I have no clue what happens, never bought a house before and my solicitor is impossible to get through to, have been attempting to contact him since 1st Nov.
Hi, do you know when is closing date?
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26-11-2019, 12:45   #2091
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Quote:
Originally Posted by DanyTargaryen View Post
Hi Evie,

I think the requirements differ slightly for different councils. I got approval in principle and have just recently got to the sale agreed phase on a place.

When I got my approval in principle, the letter said I needed to submit my booking deposit receipt, final sale agreed price, solicitor details and a valuation fee of 150 euro.

So for me the process was:
Received approval in principle which gives 6 month timeframe to find a property
Bid on a property and eventually win a bid
Pay a booking deposit to the estate agent (refundable until you sign sale contract)
Find a solicitor
Go to county council and submit documentation mentioned above
get a surveyor to look at property

And that's as far as I've gotten, I should have an answer next week from the council on whether or not my loan is approved. I mentioned to the estate agent when I was bidding that I was using this loan and it didn't seem to be a problem.

I saw another thread where people mentioned that council legal fees were 1700 euro and there was a lot of annoyed people and understandably so. Not all councils do this though, my one hasn't mentioned this.

Hi Danny, did you get any updates from the Council?
Can I ask you about the process of getting a valuation - did you have to find who would do the valuation and pay them and supply valuation report to the council? i find this part in council's letter a bit vague and want to be ready when it comes to this stage (we are about to pay a booking fee on a new built). Thanks!!!
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26-11-2019, 12:46   #2092
nate1984
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Hi All,

We received our provisional approval a little over5 weeks ago. We then applied for final approval as we have placed a reserve on a house.

We were told that there were a few more hoops to jump through such as Mortgage protection and legal amongst others.

4 weeks later we are still stuck at mortgage approval awaiting a response from the provider Utmost. We chase the county council daily but they simply reply stating they are still awaiting feedback. We fear we are going to lose our house now. Has anybody experienced anything similar or able to give a rough outline of how long we should be waiting. The estate agents / builders are losing patience more and more as the days go on
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26-11-2019, 13:07   #2093
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Hey all,

Just updating again.
I have gone through all the hoops.
New build property, surveyed and valued. Gone from mortgage approval in principle to actual approval letter.
Signed all documents, Paid Council legal fee of 1k. Home insurance and MPI approved. Paid full deposit. Requested funds to be draw down. They said I'll have it before the 6th of December (wexford Coco don't do drawdown from 6th of December to 10th of January apparently, christmas break or something).
Also worth noting that the council issues a cheque which you'll need to allow 5 days to clear, so its another small delay.
So looks like I should have keys before Christmas.

If you have any questions on my experience feel free to ask, I'll try to help.
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26-11-2019, 14:41   #2094
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Quote:
Originally Posted by Tumbleweed2 View Post
Hey all,

Just updating again.
I have gone through all the hoops.
New build property, surveyed and valued. Gone from mortgage approval in principle to actual approval letter.
Signed all documents, Paid Council legal fee of 1k. Home insurance and MPI approved. Paid full deposit. Requested funds to be draw down. They said I'll have it before the 6th of December (wexford Coco don't do drawdown from 6th of December to 10th of January apparently, christmas break or something).
Also worth noting that the council issues a cheque which you'll need to allow 5 days to clear, so its another small delay.
So looks like I should have keys before Christmas.

If you have any questions on my experience feel free to ask, I'll try to help.
First of all - Congratulations and well done!
Do you mind me asking if you need to supply more documents for final approval? We are about to pay the booking deposit and get valuation done, but I would like to know if there is anything I can prepare in advance for final mortgage approval? Will we need to get our credit rating?
Thanks!

Last edited by Laurazal; 26-11-2019 at 15:00.
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26-11-2019, 15:57   #2095
Tumbleweed2
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Quote:
Originally Posted by Laurazal View Post
First of all - Congratulations and well done!
Do you mind me asking if you need to supply more documents for final approval? We are about to pay the booking deposit and get valuation done, but I would like to know if there is anything I can prepare in advance for final mortgage approval? Will we need to get our credit rating?
Thanks!
Thank you, it was a battle sometimes but Wexford sound a lot better than other councils from stories I've heard.

So after approved in principle and I picked a house and had my booking deposit paid, I had to attend a mortgage meeting, where I provided:
1. Confirmation of address and purchase price of property, official document from the vendor was required
2. A copy of my valuation report with colour picture included
3. A copy of my surveyor report with colour picture (as it was new build)
4. My filled out MPI form if eligible they'll take it there and then, side note:turns out I may not have been eligible for this due to having asthma and my inhalers being considering "Long term medication" so I had a teleinterview with the provider of the MPI and got approved a week later.
5. My solicitor details
6. Revenue access number, available on Revenue online ( I forgot this but was allowed to email it to them the following day.)

I'm led to believe that some counties do the mortgage meeting before you even have the mortgage approval in principle, a friend of mine had her meeting before she was approved at all, where they discussed the product and she actually submitted her application form there and then. She applied in Louth and she was just able to post the above to the council.

Nothing required from the Irish Credit Bureau, they seem to have access to that. If you and a non national or worked abroad, UK, OZ, USA etc you may be required to provide a credit check from that country, normally an experian check or equivalent. That being said if you are applying for this you've been working here for at least 3 year, so I dont see how that would even come up.

I hope this helps. Best of luck with your application, it can be long and stressful, believe me, but it will be worth it when you are in your new home
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26-11-2019, 16:54   #2096
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Overpayments on fixed rate

Hi, in regards to the fixed rate option, can an overpayment of 10% be made, such as with regular lenders fixed rate overpayments policies? Thanks

Eg. "Fixed rates the maximum monthly overpayment is 10% of the monthly mortgage repayment, or €65, whichever is greater." ~ From BOI
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26-11-2019, 17:28   #2097
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Quote:
Originally Posted by coolio83 View Post
Hi, in regards to the fixed rate option, can an overpayment of 10% be made, such as with regular lenders fixed rate overpayments policies? Thanks

Eg. "Fixed rates the maximum monthly overpayment is 10% of the monthly mortgage repayment, or €65, whichever is greater." ~ From BOI
I asked about overpayment, adhoc payments and clearing your loan early. I was advised that overpayment and adhocs cannot be made. You are entitled to clear your loan early which is subject to breakage fees.

To be honest, it's not something I am looking at right now, so I wasn't questioning this too much in depth, so I'd recommend contacting the mortgage dept of your council to confirm.
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26-11-2019, 23:45   #2098
Purplejess27
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Hi all
Just discovered this! Applied in August, approval in principal October. Sale agreed 10 Nov. Booking deposit paid, survey and valuation completed. Just waiting on MPI Tele interview😱. Just wondered if anyone would mind sharing experience of this? Anyone been refused council MPI? A bit worried about it to be honest. I'm awaiting a procedure which will mean taking a couple of weeks off work and OH on long-term medication.
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27-11-2019, 07:54   #2099
nate1984
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Rebuilding Ireland Home Loan wait time

Hi All,

We received our provisional approval a little over5 weeks ago. We then applied for final approval as we have placed a reserve on a house.

We were told that there were a few more hoops to jump through such as Mortgage protection and legal amongst others.

4 weeks later we are still stuck at mortgage approval awaiting a response from the provider Utmost. We chase the county council daily but they simply reply stating they are still awaiting feedback. We fear we are going to lose our house now. Has anybody experienced anything similar or able to give a rough outline of how long we should be waiting. The estate agents / builders are losing patience more and more as the days go on
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27-11-2019, 09:13   #2100
deedee26
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Quote:
Originally Posted by Purplejess27 View Post
Hi all
Just discovered this! Applied in August, approval in principal October. Sale agreed 10 Nov. Booking deposit paid, survey and valuation completed. Just waiting on MPI Tele interview😱. Just wondered if anyone would mind sharing experience of this? Anyone been refused council MPI? A bit worried about it to be honest. I'm awaiting a procedure which will mean taking a couple of weeks off work and OH on long-term medication.
I had my Tele Interview the other day. 17 min phone call. Went something like:
Have you ever had stroke, heart problems, ect.
Has a doctor ever recommended that you take long term medication for any problems. What is the name of the medication and dose. How long have you been diagnosed with it.
How many times a year do you see your doctor regarding this issue. Have you had any tests in the last few years what was the outcome. Have you had any operations in the past? Are you currently awaiting treatment, do you have any issues you have not yet discussed with your doctor? Any long term periods of sick leave.
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