I have a buy to let mortgage with AIB. The original amount sanctioned 6 years ago was €120k. At the time I only drew down €100k. Since then I have fixed the loan for one and two year terms. The last two year term has now expired and I asked the bank to fixed again for one year. However they have come back and said that unless I confirm in writing that I will not ever be drawing down the remaining €20k, they cannot give me a fixed rate.
They never required this before. I have told them that I will not require the money in the next 12 months, i.e. the period that I am looking to fix for, but this is not acceptable.
This seems to be the bank making rules as they go along. Has anyone come accross this before and how have they dealt with it?
They never required this before. I have told them that I will not require the money in the next 12 months, i.e. the period that I am looking to fix for, but this is not acceptable.
This seems to be the bank making rules as they go along. Has anyone come accross this before and how have they dealt with it?