can i get fixed rate on stage payment mortgage?

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nina

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I was hoping someone could help me as don't trust the bank to tell the truth!We are drawing down a mortgage which we are receiving in stage payments. We have 2 stage payments yet to draw down. Our mortgage is with AIB. When we got the mortgage they told us that we had to go on the variable rate, until the mortgage is fully drawn down. Is this true? Does anyone know why? We would like to change it to the 5 year fixed rate which seems quite good at the moment and don't want to have to wait until it shoots up.
Any knowledge appreciated.
Thanks, Nina.
 
Banks differ, some allow it some dont so if AIB say they dont then that is just their policy and they are not lying just for the sake of it.
 
Thanks for that,
It's not that I think that they'd lie for the sake of it, it's just that the lady that we were dealing with made numerous mistakes and a=i wanted to make sure this wasn't another one.
 
I reckon they're right .... they can't fix until you have drawn down all your loan or what you need.
 
We are in the same position only a little further along. I would double check the policy of your lender with their head office. We did this, made out it was a general query and well the rest you can see at the attached post. Would be interested to know how you get on.

Thread: "Fixed rate on new build" a few lines down from this thread on the list. Can't post url link as haven't made minimum 15 posts yet!!
 
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