Government Funds Local Authority Housing Scheme

SNNUS

You did not have 3% of the property price in your own savings?

Save save save and then apply when you are past the 3%

Carlyd wrote: »

Just want to share my expierence with this scheme.
There seems to have been very little training provided in the County Councils. Everybody you speak to has a different answer.
I applied according to the criteria set out in the requirements list.
My first attempt to sumbit:
1)My rejection letters from the bank were not " rejectful" enough. They wanted more than just how much we had been declined on, they wanted to see how much we would be eligable for.
2) Despite the checklist stating p60 OR p21 I was turned away from not having my P21.
Both easily rectified
Returned a week later
Documents accepted.
5 weeks later.
Letter stating we were not eligable for the ammount we applied for 265,000 which I got from the calculator on their website!
Infact based on their calculations we could apply for 216,000.
They asked for a Gift Letter (we were recieving gift of deposit off both of our parents to get us out of the misery that is renting)
They asked for a letter from our landlord stating our monthly rent . Despite our rent being clear in bank statements.
Provided both of these documents.
Resubmitted.
6 weeks later we recieve a rejection letter based on the following:
1)Our earnings were outside of the loan criteria (we earn a combined 47k so well within the 75k limit)
2)We have to be seen to show unbroken savings of 3% of the property price. (A criteria that is not stated anywhere!! Nor mentioned at any previous stage of communication

our rent is nearly 3/4 of our combined wage a month and we have never missed a payment. This scheme was aimed at people just like us.
Paying an incredible ammount rent due to the shambolic private rental system so unable to save a considerable ammount a month for a mortgage.
If i met the criteria they rejected me on I would have been able to get a regular mortgage.

I was so excited when this scheme was announced. Finally an intellegent solution to the housing crisis that helps those in the middle! but alas just another pile of propaganda.

rachieqtpie

SNNUS wrote: »

There is a months cooling off period after acceptance of the loan, after this month the loan details will go to your solicitor for signing and drawdown of the funds would after then.

Hi, we’re are awaiting to hear back hopefully this week or next on our approval. We have already gone sale agreed on a property today hoping this goes through. Do you mean we are unable to give our solicitor loan details in this month? Is there anything else we could be doing to move the process along in this month?

SNNUS

rachieqtpie wrote: »

Hi, we’re are awaiting to hear back hopefully this week or next on our approval. We have already gone sale agreed on a property today hoping this goes through. Do you mean we are unable to give our solicitor loan details in this month? Is there anything else we could be doing to move the process along in this month?

It will take time for contracts to go out anyway so you will have an acceptance letter and and amount verified , this will suffice as proof of funds until the solicitor formally receives the loan offer, this will take 4-7 weeks after first hearing of approval.

SNNUS

The online maximum mortgage calculator has been updated and the amounts reduced in regards to the extra MPI charge.

foodiewarrior

@SNNUS: yes. it was updated and is now correct.
now the only thing is they train their staff in the county councils so that you don't get rejected every time you apply because they had no idea which documents you need to supply.

people, who ever is applying for this just equip yourself with a lot of patients and time, because your in for a very bumpy ride.

Sammylok1977

I went to O'Connel street revenue office, the lady on the desk sign for me just 2 minutes, she only ask me if I have a mortgage and I said no !! Then give her my PPS number only and without checking any documents!! So I got my HPL-1 form signed. Recommended going to O'Connel street, very fast and easy .

Sammylok1977

Hi everyone! Would anyone know if they considered the bonus, overtime and commissions? My gross salary is €30,900 , commissions regularl €7550, overtime regular € 3,775 and irregular bonus €2,250. All together is €13,575. I m dying to know if they considerations. Thanks everyone if you can give me advice

raheny red

Anyone got email addresses for Dublin City and Fingal cocos? Hoping to arrange interviews for applying in the next couple of weeks? Can you pick your own time and day Mon-Fri or have they got set times? Thanks.

stryker mcqueen

raheny red wrote: »

Anyone got email addresses for Dublin City and Fingal cocos? Hoping to arrange interviews for applying in the next couple of weeks? Can you pick your own time and day Mon-Fri or have they got set times? Thanks.

customerservices@dublincity.ie

customercareunit@fingal.ie

I had to make an appointment with DCC ,I then rang South Dublin CC to make an appointment and they told me no need and just to come into them so it seems to differ from council to council

irishfeen

For anyone looking to self build please realise you have to have full planning permission granted before applying to this scheme and the bank letters must be within 4 weeks of this date of application to the council.

Sammylok1977

My gross is €30,900.
P60 is €43K
Commission +bonus+ overtime is €13k
Single application
Saving deposit €25k
I went to broker , they give me €151,00 from PTSB. But still no enough to buy property in Dublin 😭I m dying to know what council can give me.

irishfeen

Sammylok1977 wrote: »

My gross is €30,900.
P60 is €43K
Commission +bonus+ overtime is €13k
Single application
Saving deposit €25k
I went to broker , they give me €151,00 from PTSB. But still no enough to buy property in Dublin 😭I m dying to know what council can give me.

Going on your P60 the max you can apply for is about 215k ... but with 13k of overtime or whatever is added onto your gross I’d be amazed if any institution would take 100% of this unless your employer can guarantee it 100% every single year in writing.

Sammylok1977

It will be like a winning Lottery if they can give me €215K . I m 41 years old so I don't think they give me 29 years mortgage:(

irishfeen

Sammylok1977 wrote: »

It will be like a winning Lottery if they can give me €215K . I m 41 years old so I don't think they give me 29 years mortgage:(

I think it’s safe to say they won’t give you the full 215k, unless you can prove your P60 wage is absolutely guaranteed.

Sammylok1977

My last 4 years P60 is almost €42K. May I ask if you have any ideal how much they may give me ? As I m 41 years old just 6 days

Floricwil

Hi guys,

Wondering if anyone can help me out on this.

I’ve applied for the RIHL and am still waiting on a response. However my brother got approved during the week. I cannot get over the cost of the MPI!! The total repayment each month is comparable to what a bank would offer!!

It says he has to get his MPI with the insurer approved by the Co Co [cant think of the name of the company.) It says if he doesn’t get approved by them, he can source his own MPI. Am I right in thinking that it his in his interest then to get turned by the Co Cos insurer then. Is it possible to set it up so this would happen? If he gets turned down by then he could source his own MPI and save himself a lot of money!!

Secondly, he has been approved a fixed rate loan. I thought with a fixed rate mortage you could not pay off any of the mortgage early. However it says in the notes he got that he can make a “special repayment”at any time off the capital sum once it is over €1000. Can anyone shed any light on this?

Thanks

Lolle06

Sammylok1977 wrote: »

My last 4 years P60 is almost €42K. May I ask if you have any ideal how much they may give me ? As I m 41 years old just 6 days

I am afraid, they wouldn’t be able to give you a 29yr mortgage if you are over 40yrs old.
Possibly only a 24yr mortgage.

Did you put your numbers into the Rebuilding Ireland calculator?

Bear in mind, that the calculator result is often not completely accurate.

Can your employer guarantee your extra- income in writing, as the annual 13k extra does make a difference to your monthly repayment capacity.

You might be better off asking for a personal meeting with your CoCo.

Good luck!

Sammylok1977

I didn't put anything, as your advice I contact rebuilding home helpline, they give me an answer said I maybe can apply 29 years mortgage and they said the scheme age limit is until 70. Did you get an approval? Thanks so much for your advice again

foodiewarrior

@Sammylok1977: it's best to ask Rebuilding Ireland Home loan hotline. but i think they will only look at your guaranteed income, no bonus or overtime.

@Floricwil: You can pay off fixed loan earlier, but you will need to pay a breakage fee.

@stryker mcqueen: South Dublin CoCo are so laid back. They say: No need to book an appointment, just drop in any time. They are cool, hip and laid back. You will go there, they are gonna go through your application and papers. They will most probably take your application in. But 99.9% you will get rejected by SoDu CoCo. And the reason they will say you forgot to bring a paper in. So good luck.

I applied in 6 Counties just to see are there any differences. And boy oh boy, are there! In some counties they asked me for such things that when I called Rebuilding Ireland Home loan hotline they said it is absolutely not required, but that person in the county council just want's to see my personal documents.

Sammylok1977

I did called and email to rebuilding home ireland and have a chat with them. Both gave me the answers is use the P60 as the calculation!! My P60 is included all the over time and bonus! I wonder any applicant know if the calculation is it included bonus and commmission ? I read few comments some applicants got decline by the council because base on P60 included all the not guaranteed bonus And over time. Is very confusing!!

stryker mcqueen

Holy smokes Batman you were spot on lol......So south Dublin council have their own acceptance criteria and checklist ....Didn't want to know, also 2 rejection letters with amounts specified so my online calculator and one letter from BOI was no good , which restarts the pain of getting these poxy letters.

Just to add their attitude absolutely stank, first thing she said was " I presume you both have your p21 ? Oh dont mind the rebuilding Ireland checklist , we have our own checklist here " and they expect this done at the public counter which is ludicrous , such a serious conversation surely deserves at least being at eye level with the person who your dealing with?

Sammylok1977

Did anyone know how many percent rebuilding home scheme take from the commission, bonus and commission??

Whodat19

Sammylok1977 wrote: »

Did anyone know how many percent rebuilding home scheme take from the commission, bonus and commission??

Have no idea. You should call Rebuilding Ireland tomorrow and they can tell you as the co co don't seem to know much compared to them

Whodat19

Sammylok1977 wrote: »

Did anyone know how many percent rebuilding home scheme take from the commission, bonus and commission??

Have no idea. You should call Rebuilding Ireland tomorrow and they can tell you as the co co don't seem to know much compared to them

Sammylok1977

Yeah! They did told me they will take the commission but didn't tell me how many percentage! Thank for your advice

Whodat19

Sammylok1977 wrote: »

Yeah! They did told me they will take the commission but didn't tell me how many percentage! Thank for your advice

I called them so many times to go through everything. I'm just glad it was a different person that answered the majority of the time haha.

rachieqtpie

We got our approval today from Meath county council. Just short of 5 weeks. Delighted is an understatement!
We have been dealing with Joe there and he has been an absolute gent and so helpful all the way through.

raheny red

stryker mcqueen wrote: »

customerservices@dublincity.ie

customercareunit@fingal.ie

I had to make an appointment with DCC ,I then rang South Dublin CC to make an appointment and they told me no need and just to come into them so it seems to differ from council to council

Appreciated, thanks.

stryker mcqueen

rachieqtpie wrote:

We got our approval today from Meath county council. Just short of 5 weeks. Delighted is an understatement! We have been dealing with Joe there and he has been an absolute gent and so helpful all the way through.

Congratulations , best of luck with the house hunting

Whodat19

rachieqtpie wrote: »

We got our approval today from Meath county council. Just short of 5 weeks. Delighted is an understatement!
We have been dealing with Joe there and he has been an absolute gent and so helpful all the way through.

Congratulations delighted for ye!