Hi there
A query where a financial/legal advisor may be able to help.
We have already drawn down €170k re site & legal cost for a new build. We got a self build mortgage from EBS back in September.
Luckily for us we've been given a temporary loan circa €260k from both our parents to build the house, which we are looking to do over the next year. This should enable us to benefit from having to repay a mortgage for two years.
We will obviously repay the loan in two years time.
My question is how will the EBS deal with us in two years time when we look to pay back our parents with a loan from the EBS, bearing in mind the self build mortage requires stage payment withdrawals and more importantly the contract we entered into with the bank.
Cheers
Phil
A query where a financial/legal advisor may be able to help.
We have already drawn down €170k re site & legal cost for a new build. We got a self build mortgage from EBS back in September.
Luckily for us we've been given a temporary loan circa €260k from both our parents to build the house, which we are looking to do over the next year. This should enable us to benefit from having to repay a mortgage for two years.
We will obviously repay the loan in two years time.
My question is how will the EBS deal with us in two years time when we look to pay back our parents with a loan from the EBS, bearing in mind the self build mortage requires stage payment withdrawals and more importantly the contract we entered into with the bank.
Cheers
Phil