In this case, the rebuilding Ireland scheme works in your favour. The reason it's normally more expensive is everyone pays the same regardless of age or medical history.I have been advised by some providers that I may not be eligible for mortgage protection insurance due to a medical condition I have so I might need to look into that one
I don't think you'd actually be eligible for the scheme after trading up, as it's only for 1st time buyers. So a break fee should apply.You were to trade up whch is quite likely, would that be classed as a break or could you carry the mortgage with you?
By the way, have you applied for the scheme? I know the last time I looked at it, there were no funds available to meet demand, but that was a while ago.
If I was a betting man, I'd bet either the uptake was high, or the funds available were low...They had no funds available too meet demand.the uptake must of being high ???
was The amount you got close to what the online calculator suggested?I bought a house through the scheme last year. Couldn't have afforded a house otherwise so consider myself very fortunate.
Yeah from I what I recall. I think in the end I was offered slightly less than I was expecting but it wasn't a huge difference.was The amount you got close to what the online calculator suggested?
Hi, just want to ask, the rebuild ireland loan, applicans have to be refused 2 time by other lenders is it?Yeah from I what I recall. I think in the end I was offered slightly less than I was expecting but it wasn't a huge difference.
Hi, just want to ask, the rebuild ireland loan, applicans have to be refused 2 time by other lenders is it?
Exactly. The banks are used to this and will oblige readily enough. Daughter got hers sorted out just before the pandemic hit last year.Yes. For me, it was just a case of getting a statement from two banks of what I would qualify for in terms of a mortgage. It's not a refusal as such but you're showing that the banks would give you less than the council. I used the AIB online one for one and then KBC was a bit fiddlier. Had to submit documents.
What evidence did you include to demonstrate repayment capacity?"repayment capacity not demonstrated"
What evidence did you include to demonstrate repayment capacity?
Thanks @EvenStevens. I'd be quite interested to know how to estimate the MPI - I asked DCC several months before my application and they were vague. I seem to recall a ballpark of about 10% of the monthly payment would comprise MPI. Does this sound about right?Did you factor in the MPI that you'll have to pay? The calculator on their site is exclusive of that. I'm paying almost 100 a month for the MPI so I'm not sure but maybe they are looking to see you could comfortably repay the mortgage and MPI together. that whatever you're saving each month would cover that. It's always worth going back to them to enquire.