Kilkenny Co. Council mortgage/loan

Philip82

Hi, does anybody know of any succesful loans handed out?? My partner is trying to get a mortgage in her name. The story is she is a secondary school teacher in her 3rd rpt year and under new proposals coming in hopes to obtain a CID next year. We have a one acre site which got granted planning a few years back. We started the house and put around 20k into it so its all dug out with the house itself up to first floor level. We are hoping we only need a small mortgage of around 100-120k. I am currently unemployed and seeking work so it would have to be in her name.
We also have savings and we are currently in rented accommodation for the past two years at 650 month.
Question is I have heard Co. Council may look at us and you need to provide them with letters of decline from other banks along with everything else. Has anybody here heard of such a case accepted or maybe have gone through the whole process personally???

chris85

Without CID no one will consider a mortgage for your partner, far too risky. You may have to wait till CID comes through.

Philip82

chris85 wrote: »

Without CID no one will consider a mortgage for your partner, far too risky. You may have to wait till CID comes through.

Ye thats basically what the banks were saying aswell, somebody just suggested it as they look at people who have been refused through their own bank.
I wonder in say a years time if she is lucky enough to get a cid would she be considered for a loan or would I need to be working aswell?? I totally understand having the cid contract though it makes good sense even for our sake for security.

eirewhite

Philip82 wrote: »

Ye thats basically what the banks were saying aswell, somebody just suggested it as they look at people who have been refused through their own bank.
I wonder in say a years time if she is lucky enough to get a cid would she be considered for a loan or would I need to be working aswell?? I totally understand having the cid contract though it makes good sense even for our sake for security.

Im at the same crack at the minute in laois. Id love to hear how anyone else got on. Myself and my partner have got to the stage of having all necessary paperwork together and are sending the application away friday. To the OP in my experience so far you need to go for a joint mortgage especialy if you and ur partner have kids? Also you need to letters of refusal from banks for a mortgague and as long as your partner is in employment for 2 years + you will be considered. As for getting 100 - 120k they give loans of upto 220k I think but your borrowing capacity will be down to how much your partner earns gross per year minus any loans you both have. My advice would be call the county council get an application form and gather up all the paper work ie. Refusals, p60, payslips, bank/loan statements etc and then call back and ask for a meeting with who ever works in housing. They will run through it with you and give you a fair idea where you stand and how much you MAY be able to borrow. After that your where I am now, send it all up to dublin and cross fingers, toes and anything else you can cross ;-).

good luck and if anyone else has been approved or refused could they please post?? Id love to know if im in a good place or not as regards meeting the criterea

Philip82

Thanks Tom can you keep me posted on how you get on that would be great. What are your circumstances are you working??I just started back working only last week. Again if anybody in the same boat has gone through the whole experience maybe they could share their opinions with us. Thanks.

eirewhite

I will indeed update. My story is I am working for exactly 2 years in my current job, never really had a large gap in my c.v. though. Im on 32k per year gross. My partner is unemployed but seeking work. We have 2 kids under 3 a small car loan, and we have some savings.
Im not exactly sure how I am with that, but the lady in housing put it all through the mortgague calculator and said if we DID get accepted best case would be that we would get 87k at most.

user37

Hi, i am also interested in applying for this. My husband is on long tern illness benfit, does this matter? i know with banks you cannot apply for a joint mortage if one is on social welfare. Or can i apply on my own eventhough were married?? we have no kids.
i am in permanent full time emplyment, in he same job 5 years and on 26k.
would be looking about 100k.
Would i have a chance or is it worth trying?

eirewhite

user37 wrote: »

Hi, i am also interested in applying for this. My husband is on long tern illness benfit, does this matter? i know with banks you cannot apply for a joint mortage if one is on social welfare. Or can i apply on my own eventhough were married?? we have no kids.
i am in permanent full time emplyment, in he same job 5 years and on 26k.
would be looking about 100k.
Would i have a chance or is it worth trying?

As far as I was aware you could apply for a joint mortgague, but the thing was that your husband was seen as not earning, therefore essentially a dependant. This will decrease your borrowing capacity, 1 wage 2 people. Thats the way its working for me any way with the council, and I have 3 dependants 2 kids and my partner. I would say go for it, you have as much a chance as me or anyone. As long as u have a steady job and no huge debts I think your in with a shout.