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Rebuilding Ireland home loan

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    #1382
    kellsbells86
    Registered Users Posts: 7 ✭kellsbells86


    VW08 wrote: »
    Hi,

    How long has everyone waited between getting approval and to your solicitor getting the mortgage pack?

    Got approved on the 21st March, and had the MPI forms etc sent back within a week. Just looking to set my expectations.

    Hi there,

    After waiting 10 weeks from submitting our application forms, we got provisional approval at the start of August 2018, we found a house and went sale agreed on 11th December, we got our keys on 1st of April.

    The longest part of the process was waiting for the cheque - that bit alone took 5 weeks

    Hope that helps


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    #1383
    KeithChicken
    Registered Users Posts: 2 ✭KeithChicken


    Sale agreed end of January. Signing contracts on Tuesday. I have sent the survey, valuation etc. to the council and they issued the loan pack to my solicitor last month. I asked the council how long from sending in contracts would it be until I received funds. Below is the response.

    "Once we receive the contracts and everything is in order along with your House Insurance, we send the cheque requisition up to the financial department. If the cheque requisition is sent on or before the Wednesday, the cheque will go out to your Solicitor that coming Monday, if it is after the Wednesday it be sent out the following Monday."

    With regard to the cooling off period. Is the three weeks from the time I sign the letter of loan or three weeks from when the cheque is issue?


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    #1384
    Quinnciara
    Registered Users Posts: 44 ✭Quinnciara


    KeithChicken wrote: »
    Sale agreed end of January. Signing contracts on Tuesday. I have sent the survey, valuation etc. to the council and they issued the loan pack to my solicitor last month. I asked the council how long from sending in contracts would it be until I received funds. Below is the response.

    "Once we receive the contracts and everything is in order along with your House Insurance, we send the cheque requisition up to the financial department. If the cheque requisition is sent on or before the Wednesday, the cheque will go out to your Solicitor that coming Monday, if it is after the Wednesday it be sent out the following Monday."

    With regard to the cooling off period. Is the three weeks from the time I sign the letter of loan or three weeks from when the cheque is issue?

    I'm in the exact same boat as you, the cooling off period is from when the solicitor received the loan pack as far as I'm.aware


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    #1385
    Ukelele!
    Registered Users Posts: 34 ✭Ukelele!


    KeithChicken wrote: »
    Sale agreed end of January. Signing contracts on Tuesday. I have sent the survey, valuation etc. to the council and they issued the loan pack to my solicitor last month. I asked the council how long from sending in contracts would it be until I received funds. Below is the response.

    "Once we receive the contracts and everything is in order along with your House Insurance, we send the cheque requisition up to the financial department. If the cheque requisition is sent on or before the Wednesday, the cheque will go out to your Solicitor that coming Monday, if it is after the Wednesday it be sent out the following Monday."

    With regard to the cooling off period. Is the three weeks from the time I sign the letter of loan or three weeks from when the cheque is issue?

    For me, I was told the cooling off period was 1 month from the day i received the draft loan documents. They wouldn't send my loan pack to my solicitor until i went sale agreed, so the cooling off period was well over by then.

    Maybe it's because my council isn't in Dublin, but my loan cheque was requisitioned on Monday April 1st, and my solicitor still hasn't received the cheque. And the next day for cheques to be issued is April 26th, so I'll freak if I don't get my cheque that day either!


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    #1386
    Quinnciara
    Registered Users Posts: 44 ✭Quinnciara


    Ukelele! wrote: »
    For me, I was told the cooling off period was 1 month from the day i received the draft loan documents. They wouldn't send my loan pack to my solicitor until i went sale agreed, so the cooling off period was well over by then.

    Maybe it's because my council isn't in Dublin, but my loan cheque was requisitioned on Monday April 1st, and my solicitor still hasn't received the cheque. And the next day for cheques to be issued is April 26th, so I'll freak if I don't get my cheque that day either!

    I am with dublin city council and I was told it can take upto ten days once the cheque is requesitioned for the council's finance department to release it to your solicitor


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    #1387
    Ukelele!
    Registered Users Posts: 34 ✭Ukelele!


    Quinnciara wrote: »
    I am with dublin city council and I was told it can take upto ten days once the cheque is requesitioned for the council's finance department to release it to your solicitor

    I'm being told there's a 3-4 week wait for funds to issue... I wouldn't mind if they just gave me a date, even if it's 4 weeks from now. Then it'd put my mind at ease and the vendor's!


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    #1388
    swalsh86
    Registered Users Posts: 17 ✭swalsh86


    After 7 months of waiting we finally got our approval letter in the post last Friday from Cork City Council. Can anybody tell me what are the next steps in the process after this??? Do we need to ring or write to accept the offer.


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    #1389
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    swalsh86 wrote: »
    After 7 months of waiting we finally got our approval letter in the post last Friday from Cork City Council. Can anybody tell me what are the next steps in the process after this??? Do we need to ring or write to accept the offer.

    Write back to confirm acceptance of offer.
    Now to find a house, good luck


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    #1390
    VW08
    Registered Users Posts: 61 ✭✭VW08


    swalsh86 wrote: »
    After 7 months of waiting we finally got our approval letter in the post last Friday from Cork City Council. Can anybody tell me what are the next steps in the process after this??? Do we need to ring or write to accept the offer.

    If this is approval for the mortgage in principle you received, then you should have also received a list of further information you’ll need to provide and send back in.

    If it’s the final approval, you should have received 4 forms (or maybe it’s 3, can’t remember) with the letter, one of them is the MP form. Fill it all out and post them back in.


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    #1391
    Milenauno
    Closed Accounts Posts: 96 ✭✭Milenauno


    I am a bit confused in relation to boundaries between south dublin co and Dublin city co. Does anyone us a link to the map showing clearly which parts are working Dublin city co? Thanks


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    #1392
    swalsh86
    Registered Users Posts: 17 ✭swalsh86


    VW08 wrote: »
    If this is approval for the mortgage in principle you received, then you should have also received a list of further information you’ll need to provide and send back in.

    If it’s the final approval, you should have received 4 forms (or maybe it’s 3, can’t remember) with the letter, one of them is the MP form. Fill it all out and post them back in.

    We rang Cork City Council to confirm we received our approval in principle and they said that we didn't need to send anything back in. They sent us a valuation report form with the letter and said that when we find a suitable house to just send in the engineers report, valuation report, drains report and up to date bank statements.


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    #1393
    L1011
    Registered Users Posts: 68,779 ✭✭✭✭L1011


    Milenauno wrote: »
    I am a bit confused in relation to boundaries between south dublin co and Dublin city co. Does anyone us a link to the map showing clearly which parts are working Dublin city co? Thanks

    http://www.dublincity.ie/sites/default/files/content/YourCouncil/LocalAreaServices/Documents/new%20boundaries%20map.pdf


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    #1394
    bubbles46
    Registered Users Posts: 34 ✭bubbles46


    Its almost 3 months since going sale agreed,still waiting for mortgage to be drawn down..Typically how long have people waited from going sale agreed to getting keys?


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    #1395
    L1011
    Registered Users Posts: 68,779 ✭✭✭✭L1011


    Impossible to answer that as every sale is different. Is there a chain, is there probate to come through, etc etc


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    #1396
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    bubbles46 wrote: »
    Its almost 3 months since going sale agreed,still waiting for mortgage to be drawn down..Typically how long have people waited from going sale agreed to getting keys?

    Went sale agreed on the 6th Feb.
    Currently waiting on home owners to finish paperwork on their new house before they will sign the contract. Could be another 2 months.
    Everything with council solicitors too, no request for funds from council yet though.


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    #1397
    bubbles46
    Registered Users Posts: 34 ✭bubbles46


    Jmk725 wrote: »
    Went sale agreed on the 6th Feb.
    Currently waiting on home owners to finish paperwork on their new house before they will sign the contract. Could be another 2 months.
    Everything with council solicitors too, no request for funds from council yet though.
    Ok thanks. We went sale agreed 5 days apart so. April 18th was meant to be my close of sale day but its been extended by another 2 weeks. Mine is shorter as the vendors of my house dont actually live in the house I bought. Hope yours comes around quick.


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    #1398
    bubbles46
    Registered Users Posts: 34 ✭bubbles46


    Ukelele! wrote: »
    For me, I was told the cooling off period was 1 month from the day i received the draft loan documents. They wouldn't send my loan pack to my solicitor until i went sale agreed, so the cooling off period was well over by then.

    Maybe it's because my council isn't in Dublin, but my loan cheque was requisitioned on Monday April 1st, and my solicitor still hasn't received the cheque. And the next day for cheques to be issued is April 26th, so I'll freak if I don't get my cheque that day either!
    What do ye mean by cooling off period please?


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    #1399
    Ukelele!
    Registered Users Posts: 34 ✭Ukelele!


    bubbles46 wrote: »
    What do ye mean by cooling off period please?

    I can't remember exactly now, cos it was so long ago. But I got my approval on October 1st. I then had 1 month to accept the mortgage approval and had to advise the council in writing that i accepted their loan offer. This was the cooling off period. In that month, i could've changed my mind and not taken their loan offer. Once i accepted it, the council then sent me out a pack in the post which had a draft copy of my loan documents. It showed the terms and conditions of the loan, the monthly repayments, etc. I had to to hold these documents for 1 month before i could take another step, if that makes sense.


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    #1400
    Quinnciara
    Registered Users Posts: 44 ✭Quinnciara


    bubbles46 wrote: »
    Its almost 3 months since going sale agreed,still waiting for mortgage to be drawn down..Typically how long have people waited from going sale agreed to getting keys?

    I'm 2 months waiting to draw down .. is it the council or solicitors thats delaying it for you ?


  • Options
    #1401
    Quinnciara
    Registered Users Posts: 44 ✭Quinnciara


    Quinnciara wrote: »
    I'm 2 months waiting to draw down .. is it the council or solicitors thats delaying it for you ?
    Sorry I meant I'm 2 months sale agreed


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    #1402
    Milenauno
    Closed Accounts Posts: 96 ✭✭Milenauno


    Does anyone have to recommend a property solicitor in Dublin who already delt with Rebuilding Ireland? Thanks!


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    #1403
    Quinnciara
    Registered Users Posts: 44 ✭Quinnciara


    Has anyone any update on their process thus far?


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    #1404
    jonny_b1
    Registered Users Posts: 129 ✭✭jonny_b1


    Quinnciara wrote: »
    Has anyone any update on their process thus far?
    Submitting paperwork today for a property we have found. Called beforehand to confirm what's needed to be sure. Cork Coco


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    #1405
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    Quinnciara wrote: »
    Has anyone any update on their process thus far?

    Still waiting on Council solicitor to request the funds from the council.
    Seller currently finalising purchase of their new house so they are waiting to sign the contract once that is finished.


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    #1406
    Ukelele!
    Registered Users Posts: 34 ✭Ukelele!


    Quinnciara wrote: »
    Has anyone any update on their process thus far?

    Been told officially my funds will be with my solicitor Friday. Paid off the remaining amount with my own solicitor, hoping to get keys next week!


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    #1407
    DianeMc2018
    Registered Users Posts: 21 ✭DianeMc2018


    Can someone clarify for me a question around eligibility for this homeloan. The 75K threshold for couples is stated on the website as 'cannot exceed 75K (gross)'. We're self-employed and while our gross would exceed this amount, by the time we deduct expenses it is significantly less. Is eligibility based on taxable income or is it really the full gross amount earned by couple - despite the fact that we wouldn't pay tax on the full amount ever.


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    #1408
    Jmk725
    Registered Users Posts: 95 ✭✭Jmk725


    DianeMc2018 wrote: »
    Can someone clarify for me a question around eligibility for this homeloan. The 75K threshold for couples is stated on the website as 'cannot exceed 75K (gross)'. We're self-employed and while our gross would exceed this amount, by the time we deduct expenses it is significantly less. Is eligibility based on taxable income or is it really the full gross amount earned by couple - despite the fact that we wouldn't pay tax on the full amount ever.

    As far as I am aware, it would be based on your taxable income, take the income from your Form 11 return.


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    #1409
    autumnbelle
    Registered Users Posts: 1,162 ✭✭✭autumnbelle


    DianeMc2018 wrote: »
    Can someone clarify for me a question around eligibility for this homeloan. The 75K threshold for couples is stated on the website as 'cannot exceed 75K (gross)'. We're self-employed and while our gross would exceed this amount, by the time we deduct expenses it is significantly less. Is eligibility based on taxable income or is it really the full gross amount earned by couple - despite the fact that we wouldn't pay tax on the full amount ever.


    Definiitely your taxable income (after the expenses)


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    #1410
    sarah88
    Registered Users Posts: 502 ✭✭✭sarah88


    Has anyone successfully appealed a decision? I'm going through this at the moment and wondering how long it usually takes. Thanks in advance.


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    #1411
    Ukelele!
    Registered Users Posts: 34 ✭Ukelele!


    sarah88 wrote: »
    Has anyone successfully appealed a decision? I'm going through this at the moment and wondering how long it usually takes. Thanks in advance.

    I did. My application was denied and they gave the reasons why they were denying it. And i just sent them a letter and evidence showing that their argument basically made no sense, and about 4 weeks later, I got a letter to say my appeal was successful


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