Mortgage Offer Letter - Timeframe

HurlingBoy

I have applied for a mortgage for an house build. I have received a offer letter that I have discussed with my solicitor and am happy to accept. I have signed the offer letter and returned with all supporting documents set out in the conditions salary cert, house valuation etc.

What is the timeframe from returning a mortgage offer letter signed with all the conditions meet to funds being made available to pay the builder?

Bank of Ireland: Linda

Hi HurlingBoy,

It will depend on what documents may be still outstanding. If you contact our customer relationship unit on 01-6113333, an agent can check to see what may still be needed for your mortgage.

Thanks
Linda

HurlingBoy

Hi Linda,
So I know what is outstanding from the offer letter and have sent these now but I want to know how long before funds will be made available?

neverfindaname

Once all conditions precedent are complied with, its your Solicitor who requests the draw down (with the required aib/boi/nib paperwork for a draw down). Once all legals are complied with, the bank is able to release monies, this is a matter for your Solicitor to confirm

Bank of Ireland: Linda

Hi HurlingBoy,

Once all items on the loan offer have been complied with and accepted, your cheque will be printed on the date requested.

To check the status of your loan cheque please contact the Customer Relationship Unit on 01 6113333.

Thanks
Linda