Does anybody who have been approved under the old CB limits know how long AIP or full loan approval lasts?
Do you get say 6 months to find a property & go sale agreed and then say 6 months to draw down?
Is it different for each bank?
Approved with AIB, KBC and BOI before Christmas and was told in each case I had 6 months to receive letter of offer (i.e. go sale agreed and get back valuation for a specific property). These approvals were under the old limits and AIB has just issued a letter of offer so old approval being honoured.
update - I was issued final offer letters (with house name on them) from AIB yesterday and they give 6 months to close from date of letter. So it appears that with AIB at least, you have 6 months to go sale agreed/get bank valuation and a further 6 months to close.