Affordable Housing with Fingal Co Co

Re: Affordable Housing with Fingal

HI all,

Did anyone who has an affordable property with Fingal get their mortgage through a bank?? I thought this wasnt an option..........would be great if you can get it though a bank tho
 
Re: Affordable Housing with Fingal

mlouisa said:
HI all,

Did anyone who has an affordable property with Fingal get their mortgage through a bank?? I thought this wasnt an option..........would be great if you can get it though a bank tho
Click to expand...

there seems to be a lot of confusion on this - there are 2 seperate schemes - the affordable housing scheme and the affordable housing initiative

the AHI has a cap of 55k for a single person and the council just approve you (and let the Affordable housing partnership take over) then you go get your mortgage through one of the three banks (BOI / IIB / EBS) while the AHS has the 40k cap and you buy the house directly from the council and your mortgage is with the council

hope this clears it up a little
 
Re: Affordable Housing with Fingal



Nope the AHS (Scheme) is the one with the 40K cap. The initiative (depending on the development) you can earn up to 60K, and the AHP get involved.
 
Re: Affordable Housing with Fingal

my fault - getting confused by all this - just corrected it - thanks eimsRV
 
Re: Affordable Housing with Fingal


yeah your rite Kara... i like your way of thinking!! Im not %100 so theres no point taking it. I was going to get someone to come up and view it again with me to tell what i could do to make the most of the SMALL loungeroom come kitchen, but now i don't know whether or not to bother... Im not usually a picky person but, when i finally buy a house i want to be happy to live in it, and see myself living in it for the forseable future!! everyhting else i love accept for that.. I suppose when i view again, ill find something different wrong with that place!! I dont think you can win!!
 
Re: Affordable Housing with Fingal

Did she go through your bank statment and did you find out straight away if you got it?
 
Re: Affordable Housing with Fingal

Hi Guys,

I had my interview last week for Martello and it was grand. The lady was really nice and went through everything with me. Going there I thought I was going to have to put nearly 20K deposit down but instead they were able to up my loan approval so I am very happy.

My loan repayments are even less than my current rent so that is a bonus.

Even better news is that Fingal called me and had a cancellation and now I have been offered a 3 bed. Its great. I originally had a 2bed end of terrace (with a side entrance) so that may now be offered to someone else that is a terrace house.
 
Re: Affordable Housing with Fingal

abi2007 said:
Did she go through your bank statment and did you find out straight away if you got it?
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Hi,

The woman went through all my bank statements to see if I had any large withdrawls or lodgements...I had a large withdrawl cause I went to New York in May but she was fine with that...She told me everything was in order but then I got a call on Wednesday saying my application was denied due to my repayments being more than 35% of my monthly wage. She said the only way I could get around this was to give an extra E10,000 deposit...I was gutted to say the least as I was giving a big deposit in the first place.I couldn't even cry when I got off the phone.Next thing the phone rings again to say that I only need E5,000 extra, she did her calculations wrong. There's a big difference between 5 and 10 grand!!!I can manage the extra 5,000 so I'm ok there.It was a bit of a shock to say the least!
 
Re: Affordable Housing with Fingal

Their customer relations leave a lot to be desired! It doesn't exactly inspire confidence. They don't seem to realise that they are dealing with real people here.
 
Re: Affordable Housing with Fingal

Chan,
That sounds terribe, if you did need the 10k could you not do the shared option? so worried was only approved for 121k and house is 156500. no way on earth would i have 35k to put towards it. I'm about 25k short i'm hoping to do the shared ownership. After all this wait there is still a chance i might not get it. so worried.
 
Re: Affordable Housing with Fingal

It's nerve wrecking - I can't wait to get it over and done with and know for once and for all.
 
Re: Affordable Housing with Fingal

hi guys, was just wondering if anyone who viewed martello last week had been called yet to confirm?? Just want to know how long i have left to make my final decision!! Still torn as to what to do!!!
 
Re: Affordable Housing with Fingal


I didn't really want to go down the road of the Shared option...I had my interview last Tuesday and I came out so happy after being told everything was in order...I have to admit I'm very nervous about the whole thing too...I'm giving 30k deposit now...
 
Re: Affordable Housing with Fingal

Do you mean the mortgage repayments were more than 35% of your salary or all your outgoings ?
Seems silly they didn't factor this in when you were at the interview ?
 
Re: Affordable Housing with Fingal

Your repayments can be no more than 35% of your net monthly wage.The woman that rang me said she thought from what she worked out on the day that I'd be fine but she said her 'superiors' are being really really strict about the repayments being no more than 35%.So in order to bring my repayments down I have to give more of a deposit.
 
Re: Affordable Housing with Fingal

Ok must have a calculate so
They gave the figures of the re-payments with the brochures so will go from there.
I am assuming that any other loans don't have to be factored into this 35% - say a car loan ?
 
Re: Affordable Housing with Fingal

Suzys1972 said:
Ok must have a calculate so
They gave the figures of the re-payments with the brochures so will go from there.
I am assuming that any other loans don't have to be factored into this 35% - say a car loan ?
Click to expand...

I dont know about loans to be honest...I was lucky enough not to have a loan going in...The figures that they gave with the brouchure were alot more than what I'll be paying back.
 
Re: Affordable Housing with Fingal

Loans are factored in. When I had my interview, they were very thorough. Since I had it, and got approved for the list, I've had a significant pay rise (though still under the threshold), I'm hoping they'll take it into account when I get to the final interview stage.
 
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