Hi PK I am in a similar boat, did you get a resolution?Hello Everyone,
I am in the final stage of new house purchase and all the documents have been submitted by me and my solicitor to BOI mortgage team to withdraw the mortgage money from bank. We are just waiting on one document from our builder which is Homebond/Structural Defect insurance (10 years cover). Now, our builder is not registered under National House building guarantee scheme and that's the reason he is ready to give a structural guarantee to fix any defects for 6 years from the day of completion.
BOI is asking for Structural defect insurance but as my builder doesn't have it, he is ready to provide a Structural Defects Indemnity letter along with a compliance certificate from the architect who has surveyed this construction. Will this be sufficient for BOI to give them a guarantee/assurance on structural defect and start the process of mortgage drawdown?
Any suggestion/help/information will be very helpful. Thanks
PK
Hi PK, We only just drawdown our mortgage with AIB on Monday 14th November, we also bought a new build. Although the builders gave us the 10 year home bond documentation but AIB never asked us for it. They were only interested in the property and life insurance. I don’t know if this help but I would say you should try AIB if you cannot find a resolution with BOI.I am in the final stage of new house purchase and all the documents have been submitted by me and my solicitor to BOI mortgage team to withdraw the mortgage money from bank. We are just waiting on one document from our builder which is Homebond/Structural Defect insurance (10 years cover). Now, our builder is not registered under National House building guarantee scheme and that's the reason he is ready to give a structural guarantee to fix any defects for 6 years from the day of completion.
BOI is asking for Structural defect insurance but as my builder doesn't have it, he is ready to provide a Structural Defects Indemnity letter along with a compliance certificate from the architect who has surveyed this construction. Will this be sufficient for BOI to give them a guarantee/assurance on structural defect and start the process of mortgage drawdown?
Any suggestion/help/information will be very helpful. Thanks
PK
Hi TTMash,Hi PK I am in a similar boat, did you get a resolution?
Hi AB, Congratulations on your drawdown. You are correct its best to start looking for other lender. Thank youHello Everyone,
Hi PK, We only just drawdown our mortgage with AIB on Monday 14th November, we also bought a new build. Although the builders gave us the 10 year home bond documentation but AIB never asked us for it. They were only interested in the property and life insurance. I don’t know if this help but I would say you should try AIB if you cannot find a resolution with BOI.
AB
Hi Jins,Hello PK, AB,
I'm also having similar scenario. Did you guys get any waiver from BOI for homebond? Or did they ask for any additional documents as a workaround?
Appreciate any responses regarding this matter!
Regards, Jins
EBS as well.. I just got my offer letter from EBSHi PK,
Thank you very much for the response.
Is this AIB, the only lender who's not looking for homebond?
Rgds, Jins
Just FYI.. I got a message from BOI yesterday asking for below 2 documents instead of homebond certificate
the Architects Certificate of Compliance with planning permission and builders personal Indemnity Insurance Cover
Once these documents are provided they will be reviewed by BOI
Hi Jerry,Hi @Raj786, I'm facing same issue with BOI right now, Builder confirm that they have registered with homebound but they don't have final certificate until house is fully finished. I have done final valuation only documents pending is homebound certificate. Could you please advise your experience with BOI? will they accept initial registration certificate and later can we provide final homebound certificate?
How did u manage to get another mortgage from EBS so quickly.As far i understand we need to get all documents again including salary certificates ? Can u please advise your experience please..
Thank in advance
Jerry
Same situation, bank didn't accept any letters. Solicitor appealed banks decision regarding homebond as other houses in area sold without it but no luck. Appealed mortgage from AIB and 3 weeks later got it. My suggestion is to apply somewhere.Hi just checking did anyone get around BOI with this builder have given us a letter but BOI have rejected.
Any help would be appreciat
Hi Raj, good afternoon. Same problem with us, and after reading your post we will apply with EBS. About your application on EBS, after approval in principle, they landed the money to the builders in 33days? About the other certificate instead of homebond, the EBS asked for some specific to be sent? Thanks for your post, really helped us.Hi Jerry,
Apologies, I didn't visit thus site for last couple of months. Just saw this today. With BOI my experience wasn't good. They keep you hanging and won't give you a yes or no answer.
EBS was very quick, I had all my documents ready in 10 days and the lady was EBS knew my situation as I was very upfront and honest with her. After documents were submitted she took exact 33 days to get the drawdown done. Yes, I had got all my salary certificates from my employer in 4 days. Overall my interest rate increased but I had peace of mind. Let me know if you need any other information Jerry.
Regards,
Raj
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