Hi all,
Are any of you familiar with AIB's Deferred Start Moratorium? Basically you can defer your mortgage repayments for the first 6 months. I spoke to AIB about it but am still none the wiser. It seems that the interest still accrues and is added on to the total cost of the mortgage but my question is:
I own a property which I do not need to sell to buy the current house we're after. If we are successful and get the house, and avail of the deferred start, and then sell my existing property in the first 6 months and pay off a significant portion of the capital of the new mortgage with the proceeds, have I saved any money on interest in that time? The guy in AIB either didn't know what I was asking (maybe none of you do either) or didn't want to say.
Are any of you familiar with AIB's Deferred Start Moratorium? Basically you can defer your mortgage repayments for the first 6 months. I spoke to AIB about it but am still none the wiser. It seems that the interest still accrues and is added on to the total cost of the mortgage but my question is:
I own a property which I do not need to sell to buy the current house we're after. If we are successful and get the house, and avail of the deferred start, and then sell my existing property in the first 6 months and pay off a significant portion of the capital of the new mortgage with the proceeds, have I saved any money on interest in that time? The guy in AIB either didn't know what I was asking (maybe none of you do either) or didn't want to say.