AIB Approval in principle - validity period reduced

I was talking with a manager in an AIB Branch today about mortgage approval.
He said the were open for business but many people were not taking up mortgages
preferring to wait it out for further drops.

I asked about approval in principle and how long it was valid for. He said it was valid
for 3 months. I said, was it not usually 6 to which he replied ‘Yes, but house prices are
changing so fast we are only giving 3 months validity’

Interesting.

JA1

I can confirm this alright. Got approval from AIB a few weeks back and it was valid for only 3 months. Put a smile on my face. Didn’t go ahead in the end as couldn’t get place at what I considered a fare price let alone at a discount. Considering state of economy and amount of work that needed doing on the place, I wanted a discount. O well. Next year.

No, No, No, the banks aren’t giving out credit. Thats why we need the homechoice loan!

:wink: