I am in the process of being a property in Cork from abroad with the intention of moving back to it in the next 12 months and am currently working through the mortgage application with AIB and legal side of things with my solicitor.
My solicitor is concerned with the Homebond Scheme documentation which was dated in Dec 2012 (only 1 year smoke/water penetration and 5 years major structural defect cover guarantee). My solicitor has asked the developer for a Structural Defects Indemnity under Seal to protect our rights under common law for redress should and issue arise in the near future but they are refusing.
Personally, I'm struggling to understand how they have come up with a Homebond date of Dec 2012. The shell of the house was built in 2008 but was never finished until recently.
Our engineer has had an informal review of the house and is not unduly concerned with any defects.
I've some questions if anyone can help/has experience....
Will AIB insist on an indemnity being provided under these circumstances...could they refuse to proceed with providing a mortgage without it or will they accept the view of the engineer's report?
I've heard there isn't much worth held on the Homebond Scheme but do the banks still consider it vital.
My solicitor is concerned with the Homebond Scheme documentation which was dated in Dec 2012 (only 1 year smoke/water penetration and 5 years major structural defect cover guarantee). My solicitor has asked the developer for a Structural Defects Indemnity under Seal to protect our rights under common law for redress should and issue arise in the near future but they are refusing.
Personally, I'm struggling to understand how they have come up with a Homebond date of Dec 2012. The shell of the house was built in 2008 but was never finished until recently.
Our engineer has had an informal review of the house and is not unduly concerned with any defects.
I've some questions if anyone can help/has experience....
Will AIB insist on an indemnity being provided under these circumstances...could they refuse to proceed with providing a mortgage without it or will they accept the view of the engineer's report?
I've heard there isn't much worth held on the Homebond Scheme but do the banks still consider it vital.