Rebuilding Ireland home loan

I would just like to throw my 2c in here as a seller.

I have finally come to the end of the most tortuous experience ever. I would recommend anyone that is going through the process with Mayo County Council to look elsewhere for finance or risk losing out on your purchase.

The entire process from start to finish took over 20 months - no seller is likely to wait that long. There was no accountability from anyone in the Co Co, all documentation was originally submitted in Nov/Dec 2020. Everything that was requested was returned within 24/48 hours max. The only saving grace for my purchasers was that I had a longstanding relationship with them as tenants for past 12 years or so - I would be suggesting to any other seller to have walked away a long time ago.

My former tenants have made €40k for themselves (on paper) this week and the best of luck to them

I honestly don't mean to put people off and I am sure it is a great product when the application is dealt with by someone who actually knows what they are doing. My rant was more specifically aimed at the local authority that both I and my purchasers had the misfortune of dealing with😏

Very hard and fast - i had 8 weeks of a gap - no bueno - had to wait the 2 years

Hi, does anyone know are interest rates going up again?

Did you get an answer to this? Similar position here.

Afraid not!

Hi there, I applied to Cork City Council in April 2022, I've tried calling numerous times for a status update but generally get a secretary who takes my name and number and tells me someone will call me back, then I generally don't hear back. Anyway, I got an email today (5 months after my initial application) saying they wanted additional documents before sending my application for the credit committee. So am I correct in thinking they are still not finished the first step of the process after 5 months? Just wondering if this is the timeline in other county councils? This seems particularly slow.

"The average interest rate on a new mortgage in Ireland has fallen for the fourth month in a row.

The interest rate in July stood at 2.63 per cent, down from 2.68 per cent in June."

Submitted my application to wrong county council, can the applicatiin be transferred to the right one . Only submitted two weeks ago

Thanks @slay55 - i've been told an extension will only be given where i am sale agreed so will gather the will to re-apply.

Heartening to hear the savings withdrawal may not be an issue though!

Applied with cork city council in Feb .

Didn't hear back until end of June with refusal ( even though me and my partner knew we should not have been refused) appealed the decision straight away and coming into October still waiting on a decision

My partner and I have a combined savings of just over €50,000, not private renting ,both working , savings in both credit unions and banks , just non stop savings with money only coming in and saving possible over €2,000 or more each month but still refused the first time . Have been into them on more than 10 occasions since August and back in again tomorrow because the appeals team was " supposed" to have meet 20days ago but of course no letter from them . Also been into tds and even a TD said they are an absolute embarrassment and are trying to contact about it too.

7months on and still waiting for them, absolute shambles of a council . They are very unprofessional in cork city council

Wanted to come back with some good news! Finally got the keys to my house on as a single first time buyer on Friday after buying with the LAHL scheme with Dublin City Council! After being rejected for RIHL in October I was really losing faith, but reapplied in April, got AIP at end of June, and I was very lucky in that I went sale agreed on the first house I bid on in July. The sale closed a couple of weeks ago, and it was honestly all worth it!

After having such a hard time getting approval for this mortgage I thought I might never be able to buy, but I got so lucky once I actually got my approval. Just wanted to drop this note here so others can know it is possible and keep the faith!

Cork city council are a disgrace to deal with . You would nesly have to go in everyday to get some sort of response . Even sinn Finn's Thomas Gould have criticized the local authority home loan in cork as a failure .

Our application was supposed to be looked at today by the committee and then got a phone call this morning saying " the committee met today but didn't get around to your application because the meeting was cut short " absolutely shambles . 8 months we are waiting yet seeing people from other places being approved with 2 months . Sorry this wasn't helpful but felt like you needed to know the sort of unprofessionalism In that city council

Same with me - I also got my approval June 28th (and was sale agreed Jul 14th!), we must have been in the same batch! I just closed on my house 10 days ago (quick sale as was unoccupied) - I have to agree, I found DCC tricky to deal with at the application stage but then much easier to deal with in the closing process. Best of luck with the closing process now!

I closed a week earlier than scheduled as DCC had the loan over to my solicitor in no time. Now have my keys and I’m moving in. Happy days.