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EBS Refuse to Lend... despite Loan Offer and Agreement

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    #2
    sasol
    Registered Users Posts: 282 ✭✭sasol


    I have heard similar stories in relation to EBS.

    I know of one couple who were approved for a certain amount 2 years ago and they drew down 40% of it to buy a site early in 2010 and when they recently went to draw down some more so they could start building they were told that the money was not there for them to draw down, so they are left with an expensive 0.5 acre of land and not much hope of getting money to build on it.

    I have completed a self build in the last 6 months, with an EBS mortgage and I could not get my final drawdown. They made it as awkward as possible until it got to the stage that I just could not wait any longer and I have emptied all my savings to get me over the finish line. Luckily I am not in as bad a situation as you as I had 80% of my mortgage drawn down but it its annoying and frustraing beyond belief.

    The banks in general make my blood boil but EBS in particular seem to just have stopped lending and don't give two hoots about any legal implications or any contracts etc signed. I would get onto my solicitor if I were you.


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