Hi,
I got a 100% mortgage from PTSB and 2 weeks past they gave me a term loan for the 10% deposit. Interest will have to be paid on this. The solicitor then requested the cheque but the cheque issue drew down the whole 100% mortgage. What I am confused about now is why did I need the 10% term loan when this wasn't drawn down alone but as part of the 100%?
I am waiting on the bank to get back to me but surely I shouldn't be caught for the interest on the term loan? The vendors still haven't signed the contract so t shouldn't have been drawn down yet anyways....
Any advise on this?
I got a 100% mortgage from PTSB and 2 weeks past they gave me a term loan for the 10% deposit. Interest will have to be paid on this. The solicitor then requested the cheque but the cheque issue drew down the whole 100% mortgage. What I am confused about now is why did I need the 10% term loan when this wasn't drawn down alone but as part of the 100%?
I am waiting on the bank to get back to me but surely I shouldn't be caught for the interest on the term loan? The vendors still haven't signed the contract so t shouldn't have been drawn down yet anyways....
Any advise on this?