Early mortgage payment

[AileenF]

My mortgage application was approved by the bank and now I am just waiting on the whole solicitor process to be complete ie: changing site to our name, auctioneer valuation....etc.

We have started building our house and its just that the builders are looking for money now and I dont know how long it will take before we actually get to draw down money from the mortgage.

Our mortgage is from NIB and was wondering if there is a facility where they could provide us with an advance payment?

What are your thoughts?

 

[paulocon]

Aileen F,

If I was you, I'd be looking at alternative ways of paying.
The application process could drag on (especially with solicitors etc involved).

I doubt the bank will want to release funds until all the i's are dotted.

I'd advise you call your solicitor and try and get an estimate of how long it will take and get him to explain exactly what is left to be done to you - you may need to get ordanance survey maps etc. once the site is signed across.