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Home purchase loan/ home choice loan

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  • 30-12-2012 7:14pm
    #1
    Millem
    Registered Users Posts: 7,729 ✭✭✭


    Hi guys,
    I am wondering are the council still offering mortgages to people to purchase private houses or has this scheme ceased. I am finding conflicting info online as to the eligibility and criteria. Any info would be greatly appreciated. Thanks in advance.


Comments

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    #2
    Victor
    Registered Users Posts: 78,411 ✭✭✭✭Victor


    I suspect there are no loans available at this time and the websites simply haven't been updated. A phone call or a face-to-face conversation might get clarity.


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    #3
    Jojoteach
    Closed Accounts Posts: 6 ✭Jojoteach


    Hi there,

    Yes they are. The maximum is 220K with a very low rate of interest 2.5 or 2.7% but you are stress tested at 5.5%.
    It's a long process - 4 weeks minimum.


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    #4
    Millem
    Registered Users Posts: 7,729 ✭✭✭Millem


    Jojoteach wrote: »
    Hi there,

    Yes they are. The maximum is 220K with a very low rate of interest 2.5 or 2.7% but you are stress tested at 5.5%.
    It's a long process - 4 weeks minimum.


    Hi jojo teach, since posting I actually rang up but unfortunately they wanted half of my deposit as savings! Mine is a gift so it ruled me out!


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    #5
    Jojoteach
    Closed Accounts Posts: 6 ✭Jojoteach


    They did say you needed 12 months savings allright but didn't mention deposit.
    If the money has been in your bank account for 6 months then usually they don't query it.
    Have you tried home choice loans ?


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    #6
    Millem
    Registered Users Posts: 7,729 ✭✭✭Millem


    Jojoteach wrote: »
    They did say you needed 12 months savings allright but didn't mention deposit.
    If the money has been in your bank account for 6 months then usually they don't query it.
    Have you tried home choice loans ?

    Yes I rang them. The man wasn't very nice on the phone either! My gift is in my dad's account. He said come back when I had saved €10,000! To be honest it is a non issue as I feel it is not the right time for me to buy now and am just going to save more money so we can buy our second house as our first house! The lack of houses is something else now.


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