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buying a property not yet built query

frankythefish · 2016-01-16 17:31:12

Lets say i get mortgage approval tomorrow. Aib. 12 months. Next week i put couple thousand deposit on phase 2 of a new development for instance. Phase 1 unfortunately all sold already and occupied a while now. Expected completion re phase 2 say mid 2017. I am concerned that by mid 17 i may not be entitled to mortgage…

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16-01-2016 6:31pm

#1

frankythefish

Closed Accounts Posts: 339 ✭✭

Join Date: May 2009

Posts: 257

Lets say i get mortgage approval tomorrow. Aib. 12 months. Next week i put couple thousand deposit on phase 2 of a new development for instance. Phase 1 unfortunately all sold already and occupied a while now. Expected completion re phase 2 say mid 2017. I am concerned that by mid 17 i may not be entitled to mortgage approval at that stage, perhaps due to birth of child or change of job. Should i be concerned? Is this how it operates?

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