David_Dublin
Registered User
- Messages
- 857
Hi All. Thanks for the AIB Tracker Redress, we're in a position to refurb the house, but will need to borrow to do so. Our SVR balance is less than 30k. We're going to need to borrow between 30k and 130k, depending on lots of things. Most likely somewhere in the middle.
Are we better off looking at topping up the SVR? Or is topping up even possible when more than doubling the existing principal of the loan? Is it worth shopping around, hassle, legals costs etc? We will still have a tracker with AIB.
The other question I have is about drawing down the loan/funds. Probably we just need to borrow the "full" amount, draw it down in full when we first need it, and pay the unused amount back as early as possible. Is there any way to draw it down in parts? It's obviously not a typical stage payment type scenario.
Are we better off looking at topping up the SVR? Or is topping up even possible when more than doubling the existing principal of the loan? Is it worth shopping around, hassle, legals costs etc? We will still have a tracker with AIB.
The other question I have is about drawing down the loan/funds. Probably we just need to borrow the "full" amount, draw it down in full when we first need it, and pay the unused amount back as early as possible. Is there any way to draw it down in parts? It's obviously not a typical stage payment type scenario.