Rebuilding Ireland home loan

diceyreilly

Lauren52 wrote: »

They did not take any of my overtime into account even though it was guaranteed and they take no allowence's / non taxable income a bank would not take this either.

Can You submit another salary cert and base it on an average and have that guaranteed.
My contracted hours are 3days however averaged it is 4 so my salary cert was based on 4 days even though I could work 3/4/5 days. This was fine and they accepted this. Also it matched my previous p21/p60 for previous 3 years.

I have guaranteed expenses of 7000 a year this cant be taken into account and I had guaranteed overtime and they would not take a % of this either - whereas a bank would take a % of guaranteed overtime.

He said they would take the overtime into a/c if it was regular. I’ve asked HR to amend it to say it was regular they said they can’t as its not guaranteed. I said that im not looking for it to say its guaranteed for the future even tho it is but can understand them not wanting to say this.
I asked can you not put down that last year it was regular on the salary cert ( which it was ) she is getting back to me tomorrow. So fingers crossed.

I also emailed Fingal COCO before i got anything together to make sure they did take overtime in to account and they said they did. So just hoping HR will re do the salary cert for me.

Lauren52

Fingers crossed for You. Its painful!! Great that they would take it as Kildare wouldnt take it for me. Although happy now as found a home and wont have as high a mortgage.Hope You get sorted and your employers help You out.

diceyreilly

Lauren52 wrote: »

Fingers crossed for You. Its painful!! Great that they would take it as Kildare wouldnt take it for me. Although happy now as found a home and wont have as high a mortgage.Hope You get sorted and your employers help You out.

Cheers Lauren.
Yeah hoping they will to. 1st email was sorry can’t help. And then I explained that i didnt want a guarantee of future overtime just that last years were regular.
She asked to to send her the form again and said she will see what she can do.
So hopefully will have a bit of good news tomorrow.

3283winnie

Jafin wrote: »

It doesn't have to be BOI, I was just giving my experience with them. I got AIP from AIB last year and it doesn't seem like you can do that a second time. The one I got originally ran out last month and there's no option to renew it or anything online. I managed to get one online this evening from Ulster Bank after three days of trying, and I have a meeting on Thursday with PTSB so I should be able to get one easily enough from there.

Oh really did ulster bank give you a letter because I need letters only I'm applying through sdcc they seem to be strict on letters only thanks

Jafin

3283winnie wrote: »

Oh really did ulster bank give you a letter because I need letters only I'm applying through sdcc they seem to be strict on letters only thanks

Yeah you can apply for AIP (they call it Agreement in Principle) online without having to talk to anyone. They offer way less than any other bank though. Like they offered me half of what Bank of Ireland said they could offer me. If you click here it'll bring you to the right page. Tip: put in way less than what you actually want or they'll just ask you to request a call back from the mortgage team. I was looking for 115,000 but I had to write in something like 50k to actually get it to generate a letter for me, and they wouldn't even offer me that much :rolleyes:

The reason it took days for it to work for me is because you need to confirm your account by clicking a link in an email they send you. Problem is I applied on Sunday and it took until this evening for the email to actually arrive to me. :pac:

3283winnie

Jafin wrote: »

Yeah you can apply for AIP (they call it Agreement in Principle) online without having to talk to anyone. They offer way less than any other bank though. Like they offered me half of what Bank of Ireland said they could offer me. If you click here it'll bring you to the right page. Tip: put in way less than what you actually want or they'll just ask you to request a call back from the mortgage team. I was looking for 115,000 but I had to write in something like 50k to actually get it to generate a letter for me, and they wouldn't even offer me that much :rolleyes:

The reason it took days for it to work for me is because you need to confirm your account by clicking a link in an email they send you. Problem is I applied on Sunday and it took until this evening for the email to actually arrive to me. :pac:

Brilliant il give that a try thank you 👌 does the letter say what you asked for or just what they offer you

Benci

Hi there. Can anyone please advise what's the next step after snagging and final valuation is done for a new build house? Also what is form 3?
Thank you

Jafin

3283winnie wrote: »

Brilliant il give that a try thank you �� does the letter say what you asked for or just what they offer you

It lists the property price you put in and what they are willing to offer you. It doesn't put in the mortgage amount you asked for. For example I put in that the property price was €125,000 because that's roughly the property price I'm looking for, but for the amount I wanted I only put in €50,000 because if I asked for €90,000 it wouldn't give me the letter and just asked me to request a call back. It didn't list the €50,000, just the amount they were willing to offer me, which was a pathetic amount.

3283winnie

Jafin wrote: »

It lists the property price you put in and what they are willing to offer you. It doesn't put in the mortgage amount you asked for. For example I put in that the property price was €125,000 because that's roughly the property price I'm looking for, but for the amount I wanted I only put in €50,000 because if I asked for €90,000 it wouldn't give me the letter and just asked me to request a call back. It didn't list the €50,000, just the amount they were willing to offer me, which was a pathetic amount.

When I put in 32000 property price and ask for 235000 they say request a call back nitemare looks like il have to just go into ptsb and get it that way never make things easy do they

Jafin

3283winnie wrote: »

When I put in 32000 property price and ask for 235000 they say request a call back nitemare looks like il have to just go into ptsb and get it that way never make things easy do they

Try again but keep the property price the same and change the amount you want from them. Knock it down to 175k, then go lower again if that doesn't work. Keep putting it lower until it works. They would only offer me half what other banks would offer.

3283winnie

Jafin wrote: »

Try again but keep the property price the same and change the amount you want from them. Knock it down to 175k, then go lower again if that doesn't work. Keep putting it lower until it works. They would only offer me half what other banks would offer.

Ok il give that a try thanks il keep you posted fingers crossed

3283winnie

3283winnie wrote: »

Ok il give that a try thanks il keep you posted fingers crossed

Omg it worked so I had to go as far down as 120000 for them to say they can only offer 118000 for a property valued at 320000 so that letter will do me will it thanks so much for that tip you have saved me a trip to the bank really appreciate it cheers

Jafin

3283winnie wrote: »

Omg it worked so I had to go as far down as 120000 for them to say they can only offer 118000 for a property valued at 320000 so that letter will do me will it thanks so much for that tip you have saved me a trip to the bank really appreciate it cheers

No problem at all! AIB also offer Approval in Principle online so try them if you haven't already. I was able to get a letter very easily last year.

3283winnie

Jafin wrote: »

No problem at all! AIB also offer Approval in Principle online so try them if you haven't already. I was able to get a letter very easily last year.

Brilliant thank you so much great to see so many people helping others hope your application goes well.

Jafin

3283winnie wrote: »

Brilliant thank you so much great to see so many people helping others hope your application goes well.

Having gone through it all once already I know how much of a headache the process can be! We'll all get through it though and hopefully have a happy outcome. Best of luck.:)

diceyreilly

Just got a call saying the maximum i can get is 160k which im a bit disappointed by tbh. I’m capable of paying at least 50k more.

He said he will send it up to the underwriters anyways and they will come back with a decision in 8/12 weeks.

Is there any chance the underwriters will offer more.
Only taking 10 per cent of my overtime into a/c even though i’ve 2 years of payslips and and overtime on every single one of them.
I have nearly 60k in savings so at least i have options in Fingal for a 1/2 bed apartment and the mortgage will be low.
But absolutely no chance of getting a brand new one which i was hoping for.

Lauren52

diceyreilly wrote: »

Just got a call saying the maximum i can get is 160k which im a bit disappointed by tbh. I’m capable of paying at least 50k more.

He said he will send it up to the underwriters anyways and they will come back with a decision in 8/12 weeks.

Is there any chance the underwriters will offer more.
Only taking 10 per cent of my overtime into a/c even though i’ve 2 years of payslips and and overtime on every single one of them.
I have nearly 60k in savings so at least i have options in Fingal for a 1/2 bed apartment and the mortgage will be low.
But absolutely no chance of getting a brand new one which i was hoping for.

When they sent ours to underwriters they were going with 260,000 , after it came back and went to credit comittee the offer was less at 221,000. Why will they only take 10% of the overtime? Did he not say yesterday he would take it all. So frustrating.

diceyreilly

Lauren52 wrote: »

When they sent ours to underwriters they were going with 260,000 , after it came back and went to credit comittee the offer was less at 221,000. Why will they only take 10% of the overtime? Did he not say yesterday he would take it all. So frustrating.

I thought he did say it. But today he said he can only take it all in to account if it was guaranteed.
HR amended the salary cert to say the overtime is regular and the allowances are guaranteed.
So its the allowances that pushed it up really.

Anyway I’m in a better position than i was yesterday. If they offer slightly more ill be delighted. If they offer the 160 ill make do. If it’s any less it’s pointless.

diceyreilly

As per our phone call today, Please submit the following documents.


Employment Detail Summary 2020. Please se attached instruction on how to obtain said form.
As stated we can only included in our loan calculation ,income that is guaranteed or regular. As per your salary certificate supplied it states that your overtime and allowances are irregular therefore we cannot include them in your loan calculation. I Have attached a salary certificate to be completed as you have stated that you fell these payments are regular.


Thats the email he sent me yesterday. I did as he wish but only a fraction of it taken into a/c
Hopefully the underwriters see sense.
A 160k mortgage over 28 years will be less repayments of what I currently pay to rent a room. Never mind the €1000 + a month i save.

Lauren52

diceyreilly wrote: »

As per our phone call today, Please submit the following documents.


Employment Detail Summary 2020. Please se attached instruction on how to obtain said form.
As stated we can only included in our loan calculation ,income that is guaranteed or regular. As per your salary certificate supplied it states that your overtime and allowances are irregular therefore we cannot include them in your loan calculation. I Have attached a salary certificate to be completed as you have stated that you fell these payments are regular.


Thats the email he sent me yesterday. I did as he wish but only a fraction of it taken into a/c
Hopefully the underwriters see sense.
A 160k mortgage over 28 years will be less repayments of what I currently pay to rent a room. Never mind the €1000 + a month i save.

Hopefully it will be same or more for You.
With our rent + savings the minimum saved in a 12 month period was 2700 p/m or Mortgage + MPI is 948 p/m
Now we have also got 2 kids so I am sure this came into it aswel. It all depends from council to council aswel.

newmember2

Is the calculator working? I've tried on two different PCs and nothing happens when I click the 'Calculate' button.

http://rebuildingirelandhomeloan.ie/calculator/

Jafin

newmember? wrote: »

Is the calculator working? I've tried on two different PCs and nothing happens when I click the 'Calculate' button.

http://rebuildingirelandhomeloan.ie/calculator/

Working fine for me. Are you sure you filled out every option and didn't leave anything blank by mistake? Or that you didn't choose the 25 year option and then put in 30 years as your term? That results in 0.

3283winnie

Can I ask when filling in my application form regarding morgage details what figures I use as in loan amount is that the amount the calculator is showing ?? Also for stamp duty and legal fees what do I say in that section thanks in advance

Jafin

3283winnie wrote: »

Can I ask when filling in my application form regarding morgage details what figures I use as in loan amount is that the amount the calculator is showing ?? Also for stamp duty and legal fees what do I say in that section thanks in advance

I put in just under what the calculator was offering me to be on the safe side. That being said, it does vary from council to council. Some people have said that they were advised to just write in "maximum allowed" and see what they were offered, but when I asked my council if I could do that they advised against it and said I was better off putting in a figure. Some people have asked for X amount and been refused outright and some have asked for X amount and been offered less.

Stamp duty and legal fees can be left blank or write in "TBC", same with property address if you don't have one yet. If you're able to get a hold of the people dealing with applications in your local council they may be able to give you clearer answers because every council operates differently.

3283winnie

Jafin wrote: »

I put in just under what the calculator was offering me to be on the safe side. That being said, it does vary from council to council. Some people have said that they were advised to just write in "maximum allowed" and see what they were offered, but when I asked my council if I could do that they advised against it and said I was better off putting in a figure. Some people have asked for X amount and been refused outright and some have asked for X amount and been offered less.

Stamp duty and legal fees can be left blank or write in "TBC", same with property address if you don't have one yet. If you're able to get a hold of the people dealing with applications in your local council they may be able to give you clearer answers because every council operates differently.

That's brilliant thanks il give the office a ring on Monday see what they say il be glad when this application is completed and posted the stress... Tks for your advice

MariaJekiou

Can anyone tell me how long it took for the housing agency to make the decision? Ours is with them since the 17th of February and when I rang yesterday I was told it's still there and no decision has been made yet. She said once it's made you'll get a letter within the one business day. Has this been he case for anyone else?

Thanks.

Lauren52

MariaJekiou wrote: »

Can anyone tell me how long it took for the housing agency to make the decision? Ours is with them since the 17th of February and when I rang yesterday I was told it's still there and no decision has been made yet. She said once it's made you'll get a letter within the one business day. Has this been he case for anyone else?

Thanks.

Hey, All councils are different , all depends on applications at the time etc. For us, it went to housing agency early Sept, we had our answer late Nov.

Once back from housing agency you wont know the decision till it goes to credit comittee we had a bit of a wait on this.

MariaJekiou

Lauren52 wrote: »

Hey, All councils are different , all depends on applications at the time etc. For us, it went to housing agency early Sept, we had our answer late Nov.

Once back from housing agency you wont know the decision till it goes to credit comittee we had a bit of a wait on this.

Thanks what Council were you with if you don't mind me asking? We are with Wexford coco.

Oh I see. Wow that's some wait. I was told it'll be 6-8 weeks by them but we are heading into 6th week and it's still with the housing agency so will probably def be longer.

Lauren52

MariaJekiou wrote: »

Thanks what Council were you with if you don't mind me asking? We are with Wexford coco.

Oh I see. Wow that's some wait. I was told it'll be 6-8 weeks by them but we are heading into 6th week and it's still with the housing agency so will probably def be longer.

Kildare, they are the slowest of the lot.they had a huge backlog for 2019 as the funding had run out. We applied Sept 2019!! Then in June 2020 we were asked to send updated information (was actually a whole new app) then Sept (1year later) it went to underwriters (housing agency) Nov got the AIP , Jan got the Loan Offer... we are just waiting for the house to be ready to go to the next step so still not there yet.

From reading other people's experience it seems to be different all the time. It could be six weeks for You as they could have send a lot. Or it could be back and waiting for the meeting. Hopefully wontbe 2 much longer. Its horrible waiting but you will get your answer soon enough hopefully

MariaJekiou

Lauren52 wrote: »

Kildare, they are the slowest of the lot.they had a huge backlog for 2019 as the funding had run out. We applied Sept 2019!! Then in June 2020 we were asked to send updated information (was actually a whole new app) then Sept (1year later) it went to underwriters (housing agency) Nov got the AIP , Jan got the Loan Offer... we are just waiting for the house to be ready to go to the next step so still not there yet.

From reading other people's experience it seems to be different all the time. It could be six weeks for You as they could have send a lot. Or it could be back and waiting for the meeting. Hopefully wontbe 2 much longer. Its horrible waiting but you will get your answer soon enough hopefully

Thanks so much! It's all such a stressful process with trying to buy a house. I appreciate you sharing your experience so far and best of luck on your journey ☺️