Government Funds Local Authority Housing Scheme

Junadl

Crunchymomma wrote: »

Has anyone got an offer yet?

No decision back yet. Expecting reply end of March as that will be around 6 weeks wait then.

Junadl

https://m.imgur.com/gallery/pIzcJ2z

Not sure if this link will work

lawred2

Junadl wrote: »

Can't believe you can't get a bank mortgage with such a good salary. The country has gone mad. It's obviously set up for failure!!

It's an ok salary

And as long as his credit record is solid, has a deposit and doesn't have a whole stack of pre-existing debts then almost all banks would offer a mortgage.

Whether that mortgage is sufficient to pay the asking for a property in this poster's location is a different story.

Crunchymomma

SNNUS wrote: »

No decision yet.. how about yourself?

Nope nothing here

SNNUS

Crunchymomma wrote: »

Nope nothing here

When did you apply?

Crunchymomma

SNNUS wrote: »

When did you apply?

Like 3 weeks ago but tbh I'm kinda chancing my arm as I'm still on probation at work. Didn't actually think we would be applying for anything for another year!

SNNUS

Crunchymomma wrote: »

Like 3 weeks ago but tbh I'm kinda chancing my arm as I'm still on probation at work. Didn't actually think we would be applying for anything for another year![/QUO

Not sure if that is a deal breaker, were you working before this job?

Crunchymomma

SNNUS wrote: »

Crunchymomma wrote: »

Like 3 weeks ago but tbh I'm kinda chancing my arm as I'm still on probation at work. Didn't actually think we would be applying for anything for another year![/QUO

Not sure if that is a deal breaker, were you working before this job?

Yes I have been in continuous employment, just got a new job in October when on maternity leave so only actually started 2 weeks ago. Still have almost my full probation year to see out. Figure if we don't get approved, we haven't really lost out as this is way ahead of schedule

sarah88

Hi, has anyone applied for this mortgage for a self build? Was it necessary to have planning permission approved prior to submitting the application?
Many thanks

SNNUS

sarah88 wrote: »

Hi, has anyone applied for this mortgage for a self build? Was it necessary to have planning permission approved prior to submitting the application?
Many thanks

Quoted text***

Jackie Cahill (Tipperary, Fianna Fail)
Link to this: Individually | In context

733. To ask the Minister for Housing, Planning, and Local Government if an anomaly will be addressed in view of the fact that this will have the effect of putting a person through unnecessary expense in securing planning permission for a site when the person may not ultimately receive approval for a loan under the scheme; and if he will make a statement on the matter. [9561/18]

Photo of Eoghan MurphyEoghan Murphy (Dublin Bay South, Fine Gael)
Link to this: Individually | In context

It continues to be the case under the Rebuilding Ireland Home Loan, as with the previous local authority housing finance offerings, that applicants applying for loan approval to build their own home are required to have, in respect of the site on which the construction is to occur, full planning permission in place prior to submitting a loan application. Local authorities cannot issue an offer of finance for a self-build project, without planning permission first being in place.

Mark Hamill

voodosheeb wrote: »

I called RI just to be sure and they said you need something in writing from the bank, some banks wont want to give you anything unless you make a full application and even then they might still try and say no,I was told to reference the consumer protection code 2012 section 4.24

Thank you for this, unfortunately Ulsterbank don't seem to think it applies to them. I was in with them last week and they said I only qualify for a mortgage of €33k (:rolleyes:) but that their lower limit was €40k so they couldn't give me their approval in principle. They couldn't give any of this in writing and I didn't challenge because I didn't know about the the section in the code.

Today, after seeing your post, I contact them and quote the code and after some back and forth phone calls, they tell me that they can give me a letter saying they can offer the €33k, but that it's not actually an offer because of their €40k limit. I ask can I get the limit in writing, or is it anywhere in their brochures so I can attached it the offer. They say no, it's only internal, but check the website in case it is there. At this stage I say ok, I'll pick up the letter.

5 minutes later I get a callback, saying that the limit is actually on their paperwork, so they wont now give me the €33k letter!

I quote the code from the central bank again, they say they will get their manager to call me back because "I just don't get what they are saying", I say that they actually don't seem to get what I am saying, they have to give a letter, it's central bank rules and then they accuse me of getting aggressive and hangs up the phone.

SNNUS

Mark Hamill wrote: »

Thank you for this, unfortunately Ulsterbank don't seem to think it applies to them. I was in with them last week and they said I only qualify for a mortgage of €33k (:rolleyes:) but that their lower limit was €40k so they couldn't give me their approval in principle. They couldn't give any of this in writing and I didn't challenge because I didn't know about the the section in the code.

Today, after seeing your post, I contact them and quote the code and after some back and forth phone calls, they tell me that they can give me a letter saying they can offer the €33k, but that it's not actually an offer because of their €40k limit. I ask can I get the limit in writing, or is it anywhere in their brochures so I can attached it the offer. They say no, it's only internal, but check the website in case it is there. At this stage I say ok, I'll pick up the letter.

5 minutes later I get a callback, saying that the limit is actually on their paperwork, so they wont now give me the €33k letter!

I quote the code from the central bank again, they say they will get their manager to call me back because "I just don't get what they are saying", I say that they actually don't seem to get what I am saying, they have to give a letter, it's central bank rules and then they accuse me of getting aggressive and hangs up the phone.

They have to give you a letter advising that they refused you a 40k mortgage.

Applying for this has thought me so much

sarah88

SNNUS wrote: »

Quoted text***

Jackie Cahill (Tipperary, Fianna Fail)
Link to this: Individually | In context

733. To ask the Minister for Housing, Planning, and Local Government if an anomaly will be addressed in view of the fact that this will have the effect of putting a person through unnecessary expense in securing planning permission for a site when the person may not ultimately receive approval for a loan under the scheme; and if he will make a statement on the matter. [9561/18]

Photo of Eoghan MurphyEoghan Murphy (Dublin Bay South, Fine Gael)
Link to this: Individually | In context

It continues to be the case under the Rebuilding Ireland Home Loan, as with the previous local authority housing finance offerings, that applicants applying for loan approval to build their own home are required to have, in respect of the site on which the construction is to occur, full planning permission in place prior to submitting a loan application. Local authorities cannot issue an offer of finance for a self-build project, without planning permission first being in place.

Thanks very much, just unfortunate that so much money needs to be paid out without the security of knowing that a mortgage will.be offered.

bush

Mark Hamill wrote: »

Thank you for this, unfortunately Ulsterbank don't seem to think it applies to them. I was in with them last week and they said I only qualify for a mortgage of €33k (:rolleyes:) but that their lower limit was €40k so they couldn't give me their approval in principle. They couldn't give any of this in writing and I didn't challenge because I didn't know about the the section in the code.

Today, after seeing your post, I contact them and quote the code and after some back and forth phone calls, they tell me that they can give me a letter saying they can offer the €33k, but that it's not actually an offer because of their €40k limit. I ask can I get the limit in writing, or is it anywhere in their brochures so I can attached it the offer. They say no, it's only internal, but check the website in case it is there. At this stage I say ok, I'll pick up the letter.

5 minutes later I get a callback, saying that the limit is actually on their paperwork, so they wont now give me the €33k letter!

I quote the code from the central bank again, they say they will get their manager to call me back because "I just don't get what they are saying", I say that they actually don't seem to get what I am saying, they have to give a letter, it's central bank rules and then they accuse me of getting aggressive and hangs up the phone.

I got a weak offer from ulster bank too and was asking about getting a letter to off them for the government mortgage and they really didnt want to give it to me. I ended up getting 3.5 my salary elsewhere though. Ulster banks stress test is very harsh.

Wheeliebin30

What happens when someone's income magically increases after a year?

Do they still get the 2%?

So unfair.

SNNUS

Wheeliebin30 wrote: »

What happens when someone's income magically increases after a year?

Do they still get the 2%?

So unfair.

Magically increase? Won't say no if that happens

Wheeliebin30

SNNUS wrote: »

Magically increase? Won't say no if that happens

Very easy to start off in a low paid job, get the mortgage then suddenly find a much higher income job.

This country is truly ****ed.

SNNUS

Wheeliebin30 wrote: »

Very easy to start off in a low paid job, get the mortgage then suddenly find a much higher income job.

This country is truly ****ed.

So you would have had to have known about this loan scheme 2 years ago to work in a low income job just to get this loan and then sail off to your dream job afterwards?? I think that may be a very low %, Everyone is entitled to advance in their career.

Mark Hamill

SNNUS wrote: »

They have to give you a letter advising that they refused you a 40k mortgage.

Applying for this has thought me so much

I was talking to the manager today. He said they can only do two letters, an approval one if you qualify for more 40k and go through the whole process, and an outright rejection one, that just says you fall outside their lending criteria. He was sure that this second letter wont actually be of any use to me as he claims that the government mortgage only wants refusal letters with specific amounts on them. I'm going to take the second one to the county council and see what they say (according to your previous post quoting the RI site, it should be sufficient).

He was adamant that they can't just print off a letter with the specific refusal reason on it because their letters are pre-made and have to be arranged (I have to go back this afternoon to actually pick it up) and he was doubly adamant that he is taking a stance on this in his branch because this process is a waste of his employees time :rolleyes:.

SNNUS

Mark Hamill wrote: »

I was talking to the manager today. He said they can only do two letters, an approval one if you qualify for more 40k and go through the whole process, and an outright rejection one, that just says you fall outside their lending criteria. He was sure that this second letter wont actually be of any use to me as he claims that the government mortgage only wants refusal letters with specific amounts on them. I'm going to take the second one to the county council and see what they say (according to your previous post quoting the RI site, it should be sufficient).

He was adamant that they can't just print off a letter with the specific refusal reason on it because their letters are pre-made and have to be arranged (I have to go back this afternoon to actually pick it up) and he was doubly adamant that he is taking a stance on this in his branch because this process is a waste of his employees time :rolleyes:.

My heart bleeds for him, Banks never waste our time , that letter should do, just note on it how much you were looking for.

Mark Hamill

Mark Hamill wrote: »

Guy on the phone said it was somewhere in the midlands that they are all sent and processed. There are already county council based mortgage schemes, that must be processed in the county council you are buying in, but this scheme is country wide, so apparently is different.

So apparently, this has changed (or never was the case and the rebuilding Ireland helpline was wrong last month). Was in Tallaght CC yesterday, hoping to buy in Navan, and was told I will have to go there to do it. Was also told that that it's best to call the CC first and check that they don't have extra requirements, over what the form requires (e.g. apparently Tallaght CC requires a P21 for all applications).

What's dumb about all that is the person I was talking on the phone to in Navan CC was confused as to why any CC would require extra documents. The CC's are only talking in the forms and documents, the requirements are set and assessed by the governments underwriter, not the CC itself. But if it doesn't make sense that extra docs are needed, because they are all assessed by the same underwriter, then why do you have to go to the specific CC? It would be like having to get a mortgage from the specific bank branch in the area you are buying a house in. Its just more busy work ( and trip to navan today for me).


Also, apparently the calculator on the Rebuilding Ireland webpage is not accurate. While on the phone to Meath CC, they put my details through their calculator, which is supposedly more up to date. The amount I could potentially borrow dropped by about 10%. As far as they knew, it's because the online calculator doesn't take account of mortgage protection insurance you have to get.

SNNUS

It seems like no one really is in the know about the whole process which will in turn slow everything down..

Bargain_Hound

Mark Hamill wrote: »

So apparently, this has changed (or never was the case and the rebuilding Ireland helpline was wrong last month). Was in Tallaght CC yesterday, hoping to buy in Navan, and was told I will have to go there to do it. Was also told that that it's best to call the CC first and check that they don't have extra requirements, over what the form requires (e.g. apparently Tallaght CC requires a P21 for all applications).

What's dumb about all that is the person I was talking on the phone to in Navan CC was confused as to why any CC would require extra documents. The CC's are only talking in the forms and documents, the requirements are set and assessed by the governments underwriter, not the CC itself. But if it doesn't make sense that extra docs are needed, because they are all assessed by the same underwriter, then why do you have to go to the specific CC? It would be like having to get a mortgage from the specific bank branch in the area you are buying a house in. Its just more busy work ( and trip to navan today for me).


Also, apparently the calculator on the Rebuilding Ireland webpage is not accurate. While on the phone to Meath CC, they put my details through their calculator, which is supposedly more up to date. The amount I could potentially borrow dropped by about 10%. As far as they knew, it's because the online calculator doesn't take account of mortgage protection insurance you have to get.

Fingal told me the same thing. Indeed I did have to go to navan as I am buying in Navan. Didn't require a P21 but included P60 as per requirements.

SNNUS

I was advised that there is a backlog in the Irish Credit Bureau department, 6 weeks on Friday and no word yet.

Junadl

SNNUS wrote: »

I was advised that there is a backlog in the Irish Credit Bureau department, 6 weeks on Friday and no word yet.

Just give it until the end of March then start panicking 😭 It's such a horrid wait!!!!

Grocery_bag

Anybody hear back about their applications yet ?

syndrome777

were any of you guys able to get decline letter without going to the whole process with all the documentation submitted to the banks?

AIB does that, you give them ruff figures and they provide the decline from there without going to the whole process with underwriters and everything.

Do you know if other banks do the same?

SNNUS

Grocery_bag wrote: »

Anybody hear back about their applications yet ?

Not yet.. when did you apply?

Grocery_bag

SNNUS wrote: »

Not yet.. when did you apply?

I am only about to begin the process of applying now. Hope I'm not too late

Mark Hamill

syndrome777 wrote: »

were any of you guys able to get decline letter without going to the whole process with all the documentation submitted to the banks?

AIB does that, you give them ruff figures and they provide the decline from there without going to the whole process with underwriters and everything.

Do you know if other banks do the same?

PTSB gave me a letter without issue - made an appointment to talk with mortgage advisor a few days in advance, told her what I wanted and went through my finances and she gave me the letter there and then (she actually gave me two letters, one saying what I could get and the other just saying I wasn't able to get the standard 3.5 annual wages).

Ulsterbank started the same (appointment wait was two weeks though) but the advisor seemed to get insulted when I explained what I wanted and wouldn't give a letter. Arguments on the phone and with the manager and 1-2 weeks later I finally got a letter. (whole situation detailed in this post)