Should I wait for a few weeks.

A

Ash 22

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Loan approval through today with aib but as first year tracker discount is gone today also, means cant avail of that now. Deposit paid on house, nothing signed yet. Just wondering should I at least hold tight for a few weeks or go ahead now. Closing date on house sale not until end of May.
 
Ifyou mean you want to delay to get a better mortgage deal - don't hang about.
If anything- good tracker rates will proably become harder to find in the coming months. If you are borrowing over 80% of the house value , don't delay. If you are borrowing over 90% - sign asap before they change their mind . Look what happened to some BAnk of Scotland customers last week when they withdrew 100% mortgages.
 
Sign now and courier it over to them. Discounted tracker is only being discontinued from COB today the 22nd.
 
But that means the OP would be paying a mortgage on a house that they don't own for a month. Is the discount worth that much?
 
Thanks for all your advice. Was'nt in a position to sign today and there were a few extra queries to be sorted out but will go ahead with the purchase.
 
I was given a tidbit of info that helped me out no end when buying my first home.

The buyers solicitor can hold onto the contract WITHOUT signing for up to 9 months. After that you might get sued.

With things the way they are now, you may end up better off as a result.
 

I was in a similar situation yesterday as was getting worried about our loan offer from AIB. After talking to our broker he assured me that he had spoke with AIB and since we had our loan offer (and in fact signed it) we were okay. My understanding from him was that once at loan offer stage you are fine, it's any new business from the COB today that won't be offered the discount. Check with AIB/your broker.
 
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