After jumping through many hoops I finally got my letter of offer from AIB today for a self build mortgage. Although I haven't yet had a chance to go through it with my solicitor and architect, one thing that jumps off the page is that there is an expiry date for the final draw down of 31/12/2013 and any extension is at the banks discretion.
This is a completely unrealistic expiry date for a self build which in all likelihood won't even start until August or later. Given the difficulties I've had getting this letter of offer, I don't relish the possibility of having to re-apply mid build.
Has anyone else experienced this issue in the past and if so how did you overcome it?
This is a completely unrealistic expiry date for a self build which in all likelihood won't even start until August or later. Given the difficulties I've had getting this letter of offer, I don't relish the possibility of having to re-apply mid build.
Has anyone else experienced this issue in the past and if so how did you overcome it?