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House hunter mortgage approval in principle - change to self build mortgage?

  • 12-05-2016 4:30pm
    #1
    coll89
    Registered Users Posts: 4 ✭


    Hi

    I have been approved in principle for a house hunter mortgage with BOI and have been for a few weeks, however myself and my boyfriend are now thinking of building as we can find nothing suitable for us to buy.

    Does anyone know if I will have to reapply for a self build mortgage or if I will keep my approval in principle subject to the bank okaying the plans etc..?

    Thanks


Comments

  • #2
    iainBB
    Registered Users Posts: 460 ✭✭iainBB


    coll89 wrote: »
    Hi

    I have been approved in principle for a house hunter mortgage with BOI and have been for a few weeks, however myself and my boyfriend are now thinking of building as we can find nothing suitable for us to buy.

    Does anyone know if I will have to reapply for a self build mortgage or if I will keep my approval in principle subject to the bank okaying the plans etc..?

    Thanks

    They are very different products. One based on assist they can't really lose out at the moment. And the other on a promise of an assist the might win on.

    Reapply.

    AIP is with nothing until you show the bank the assit your are swapping the mortgage for. We had AIP but got turn down mid application.


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