Time limit on Letter of Offer

I am reading a loan offer in connection with a tracker issue. I had an idea that a Letter of Offer usually had a time limit of 6 months on it. (But I might be confusing that with an AIP).

But in this AIB case, it says "Please sign to indicate your acceptance within 30 days - otherwise the offer will lapse"

There doesn't seem to be any limit on the time to draw down the mortgage.

So, if it takes a few months or even a year to complete the deal, the Letter of Offer still stands?



Registered User
Hi Brendan, as far as I know the letter of offer only lasts 6 months, I got a mortgage last year thru AIB and it went past 6 months before all the details were sorted and I had to request an extension



Frequent Poster
Yes, the current ones have an expiry from date of offer : I think AIB is 3 months for 2nd hand house, and 6 months for a new build.
However, it might not always have been the case if you're looking at offers from pre 2009.

The dates are called out in a few places on mine (AIB) from 2012 - the 2nd paragraph on the letter of offer "This offer is valid until XX/XX/XXXX and the mortgage must be fully drawn by this date".

The same sentence is repeated in the General Conditions: "Draw down of mortgage loan"